Refinance

Your loan was competitive the day it settled

Lenders price new customers better than existing ones, so the gap widens quietly every year. We work out what yours has become.

Most people do not refinance because they cannot tell whether it is worth the trouble. The honest answer is a single number: what your loan costs you over a year against what the same debt would cost somewhere else, minus what it costs to move. If that number is small, we will say so. Should I refinance? Only when the gap between what your loan costs you now and what it would cost elsewhere is bigger than the cost of moving, and stays bigger long enough to be worth the paperwork. On most loans that is a matter of months rather than years, but it turns on your balance and your remaining term, not on a headline.

Your balance, not the rate gap

The same difference in pricing is worth several times more on a large balance than a small one. A gap that is not worth moving for on a modest loan can be worth thousands a year on a bigger one, which is why a general answer is useless and your own figure is not.

What moving actually costs

Discharge, registration, and sometimes a valuation or application fee. They are knowable in advance and they are not large, but they have to be subtracted before anything is called a gain. If you are inside a fixed term there may also be a break cost, and that one has to be quoted before any decision.

How long you will hold it

A move that pays for itself in eight months is obviously worth doing if you are staying. If you are selling next year it may not be. We ask this before we do the arithmetic, because it changes the answer more than anything else on this page.

What happens, in order

The same six steps run for every refinance, in this order, so nothing is a surprise partway through.

Steps

1

You send your current loan statement and we read the position from it.

2

We work out what it costs you over a year, on your actual balance.

3

We compare that against what the same debt would cost at other lenders.

4

We price the move: discharge, registration, and any break cost, quoted not estimated.

5

You get the payback period in months, and our recommendation, including when it is to stay.

6

If you go ahead, we handle the application and the discharge and keep you posted.

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What the gap could look like

A worked example only — the shape of a comparison, not your number. Your own figure comes from your statement.

LenderMonthly costRate (reference only)Notes
Lender A$2,9106.09% p.a.Example only — offset account included.
Lender B$2,8455.94% p.a.Example only — lower rate, no offset.
Lender C$2,9706.21% p.a.Example only — fixed for the first two years.

Verified on 24 August 2026 — example figures only.

Your own numbers decide this — the table shows the shape, not your deal.

Questions people ask first

From first conversation to formal approval is usually two to four weeks, and settlement follows once the outgoing lender releases. The part that most often adds time is waiting on documents from you, which is why we ask for them all at once at the start.

Every year you wait, the gap gets wider. Find out what yours is.

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