The Reserve Bank of Australia (RBA) today increased the cash rate for the seventh ...
Your local brokers
Capx Finance
Refinancing.
Things in life change – and that includes interest rates, your circumstances and
goals. When they do, it could be time for your home loan to change too. It’s a way
you could potentially save money, trim your mortgage and ultimately, get a better
deal. You don’t have to go it alone – with a broker doing the legwork with your best
interests at the heart of all recommendations, refinancing can be easier than ever.
Why refinance?
There are many reasons why people choose to refinance. Lenders rarely reward customers for being loyal, so it’s a good idea to regularly check to see if there is a better-suited loan for you. Some benefits can include:
Get down with low rates
Interest rates regularly change. Is yours still competitive? If you have a variable rate, or your fixed-rate is due to expire, you may be able to negotiate a lower rate with your lender, or find one that will.
More bells, better whistles
Not all home loans are packaged equal. They offer different features and functionalities. Switching to a loan that allows more regular or extra repayments, an offset account or redraw facility can help you pay less over the life of the loan. Or, if you aren’t using features with your existing loan, switching to a more basic loan could save you in fees.
Debt consolidation
If you have multiple debts, such as a personal loan, car loan or credit card, you may be able to roll them into your home loan. This consolidates your debt to one repayment and could save you in interest. We will consider the whole picture including fees and repayments to determine if debt consolidation is right for you.
Free up money for your projects
Whether you’re planning a renovation, need to upgrade your car or have another project in mind, if you have grown equity in your home, you may be able to refinance to access more money to fund it.
The right time to refinance.
Fixed-rate expiring
If your fixed-rate term is due to expire in the upcoming months, it is a good idea to find out your options. Often, when a fixed-rate expires, you will be automatically transferred to the lender’s variable loan, which may not be competitive or suit your needs.
Your equity has grown
If you have been making your home loan repayments, it is likely the equity you own of your home has increased. If this is the case, lenders may be willing to offer you a lower interest rate.
Your credit score has improved
If your credit score has changed for the better since you took out your home loan, it is possible you could be eligible for a lower interest rate. It is always worth asking the question.
How to refinance.
The thing is, refinancing can be made simple with a broker. Here’s what the process looks like.
-
Check in
We’ll take the time to understand your circumstances and goals and review your current mortgage, including any exit fees or additional costs.
-
Your shortlist
Next, we compare your loan with others offered by over 60 lenders to see if you could be better off somewhere else. You will receive a shortlist of our recommendations, which may include renegotiating with your current lender.
-
Take action
When you’ve made an educated decision, it’s go time. We do the legwork for you from application to settlement. We then regularly check in to make sure your loan is still working hard for you.
Loan comparison calculator.
How do the numbers stack up between your loan and another? This calculator can help you find out. Alternatively – reach out and we can run the numbers for you. We always factor in any costs involved to weigh up the overall benefit and determine if refinancing is in your best interest.
How much could I save by switching loans?
Different loans have different fees, features and repayment options. Use our loan calculator to see how the numbers stack up between two loans.
FAQs about refinancing.
Connect With Us!
If you’re interested in learning more about our services or have questions regarding your current loan, please fill out the form, and someone will reach out to you soon!
Want to speak with someone right now Call 0459 348 384
Have an inquiry? Reach out to our team!
Read more from our blogs
10 reasons you’re better off with a broker
Let me say this loudly, loyalty doesn’t necessarily pay anymore. Not with lenders (banks) ...
#BROKERSWORKFORYOU
Copyrights © 2025 All Rights Reserved.