Refinance Smarter.
Not Just Cheaper.
Is your loan still a good fit? A review can compare your rate, repayments and features with your needs today.
Any savings depend on the new rate, fees, switching costs and loan term. Extending the term or consolidating short-term debts can increase total interest even if repayments fall.
Refinancing in one minute
Short answer: A loan review checks whether your current rate, costs and features still suit your needs. Refinancing may help, but staying with your lender can also be the right outcome.
- Compare total costs, not just the rate.
Which switching costs should I check?
Include any new Lenders Mortgage Insurance (LMI), fixed-rate break costs, discharge fees and new-loan fees.
LMI may apply with less than 20% equity. LMI paid on your old loan does not automatically cover a new loan.
Compare loans over the same remaining term and estimate how long savings would take to recover the switching costs.
- A lower repayment may come from a longer term, which can increase total interest.
- Equity and eligibility depend on the lender’s valuation and lending assessment.
What a review could improve
Most people don’t realise their home loan should be reviewed regularly. Banks change rates, policies and products constantly and what suited you years ago may not be the best fit today.
Lower Interest Rate
Potentially reduce repayments and save money over time.
Access Equity
Borrow more against your property’s value, subject to lender approval. This increases your debt.
Equity is your property’s value minus the debt secured against it. It is not money sitting in a savings account. Accessing equity through refinancing means taking on additional borrowing. The amount available depends on the lender’s valuation, lending limits and your ability to repay. You may not be able to borrow against all your equity.
Consolidate Debts
Combine eligible debts into one repayment. Check the total interest and fees, not just the monthly saving.
Moving credit cards or unsecured personal loans into your mortgage makes those debts secured against your home. Your home may be at risk if you cannot repay. Spreading a short-term debt over a longer mortgage term can also increase its total cost, even at a lower interest rate.
Better Features
Offset accounts, redraw facilities, flexible repayments and more.
End Fixed Rates
Review your options before your fixed period expires.
Improve Cash Flow
Reduce financial pressure and create breathing room.
What happens during a review?
Share your current loan details, discuss your goals and understand the options available.
See the three review steps
- Share your current position. Tell Liran about your loan, current rate and what you would like to improve.
- Have a conversation. Choose a suitable time to discuss your repayments, fees, features and goals.
- Understand your options. Liran can explain whether staying put or exploring other available options may make sense, including likely switching costs.
A review does not commit you to applying or changing lenders. Any new loan is subject to assessment.
See the home loan health check processTest your refinancing knowledge
A little knowledge can open up a better conversation. Test your home loan know-how with ten quick questions, then discover what to ask at your next review.
Offset vs Redraw: Same Vibe? Not Quite.
Before choosing: Compare account fees, any higher loan rate and access rules. Offset money stays in a linked account while redraw is access to extra loan repayments, subject to the lender’s rules.
Fixed vs Variable: The Certainty or Flexibility Question
Choosing between fixed and variable is not about guessing the future perfectly. It is about choosing the structure that suits your comfort level, goals and plans. Explore the fixed vs variable guide to compare certainty and flexibility.
Fixed rates offer repayment certainty for a set period but may limit extra repayments and involve break costs. Variable rates can change and usually offer more flexibility. A split loan combines both, subject to product terms.
Let's See If Your Loan Is Still Working For You
Whether you are looking for a better structure, lower repayments, access to equity or simply want a second opinion, I can help you understand your options clearly and confidently.
Mortgage broker for first home buyers, refinancers and investors.
Call 0410 446 041 | liran.morris@mortgagematrix.com.au
Australia-wide service.
* The information on this website is general in nature and does not take into account your personal objectives, financial situation or needs. Lending criteria, fees, terms and conditions apply. You should consider whether any information or product is appropriate for your circumstances before making financial decisions.
** Liran Morris (Credit Representative 548043) is authorised under Australian Credit Licence 389328. Australian Credit Licence held by Connective Credit Services Pty Ltd.