Home Loan Refinance

Reasons for a home loan refinance

  • A home loan refinance could save you money with a lower interest rate and lower ongoing lender fees
  • Refinancing allows you to release equity in your home to build wealth or achieve other personal goals
  • Refinancing can give you the opportunity to change loan terms & conditions to better suit your changing needs
  • Refinancing allows you to consolidate debts into one low interest loan
  • Refinancing allows you to switch between variable and fixed interest rates

    Have one of our team contact you for advice on refinancing your loan

    No matter what your reason for considering a home loan refinance, Assured Lending Mortgage Brokers will help you through the entire process. We have been able to find a better loan option for 82% of the home owners who have contacted us for a loan review. We will look at saving you money with a lower interest rate and loan fees, improving your cash flow by consolidating debts or redrawing equity from your property and finding the loan and the lender that suits your needs.

    A free, 3 minute home loan review could save you thousands

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    If your not having your home loan reviewed on a regular basis, you could be spending thousands of dollars on unnecessary interest payments and loan fees. A very simple three minute phone call with an Assured Lending Mortgage Broker can ascertain if a home loan refinance could save you money or meet other financial needs you may have. We look at your current interest rate, loan fees and the terms and conditions of your loan. We also consider any changes you may want to make to your financial situation like consolidating debts or drawing some of the equity from your property. We will let you know what better home loan options are available for you and will provide you with a full home loan comparison report. Any advice we give you is completely cost and obligation free. A home loan review costs you nothing but it could save you thousands.

    The process of a home loan refinance

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    Step 1 – Current Home Loan &
    Needs Analysis Review

    Our Mortgage Brokers will provide you with a completely cost and obligation free home loan review. We will gather some basic information from you over the phone, this takes about three minutes and then we begin the process of comparing over 30 of Australia’s leading lenders to find other home loan solutions for you. We will provide you with a written summary of the costs to refinance your home loan and the current most suitable home loan options available to you. We will outline what the refinance application process involves so you have all the necessary information before you decide to go ahead.

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    Step 2 – Assembling Your Home
    Loan Refinance Application

    Once you have decided on the prefered option for your home loan refinance, your Assured Lending Mortgage Broker will complete all the application paperwork on your behalf. We will let you know exactly what documentation the lender will require and we make sure you understand all the terms and conditions of your loan. We will liaise with the lender on your behalf and make sure the application is structured for the highest chance of approval.

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    Step 3 – Getting Your Home
    Loan Refinance Approval

    We will advise you as soon as the home loan refinance has been approved and assist you with completing your new loan documents and the discharge documents to release your existing loan.

    The new lender will pay out your existing loan (if you decided to change lenders) and you can commence repayments on the new loan.

    We will continue to monitor your loan over the years, having regular conversations with you about your changing needs and ensuring you continually remain on the best home loan option.

    What our customers say about their home loan refinance with Assured Lending

    Home Loan Refinancing FAQ’s

    What is a home loan refinance?

    A home loan refinance is the process of taking out a new home loan that pays out your current loan.

    Do I need to change lenders to refinance ?

    No, you do not need to change lenders to refinance. Your current lender may simply have a different loan product that better suits your needs or you may refinance the same loan product so you can withdraw some of the equity in your home.

    Why do people get a home loan refinance?

    There are several different reasons to refinance a home loan.

    • Interest rates are constantly changing and lenders are continually changing the offerings of their loan products to get your business. A home loan refinance to a new loan with a lower interest rate could save you a significant amount of money over the life of your loan.
    •  All home loans come with different terms and conditions. As your needs change, you may want a loan that has more flexible terms and conditions, for example,  the ability to make interest only repayments or to make additional payments.
    •  As the value of your home increases over the years, you gain equity in your property. Equity is the difference between what your home is worth and how much you owe on it. A home loan refinance can give you the opportunity to release some of this equity to pay for other things like renovations, a holiday, a car, an investment property or just to free up some spare cash.
    • As interest rates fluctuate, you may want to change your loan from a variable rate to a fixed rate to give you certainty of repayments or low in a low interest rate. If your current loan product does not allow you to make this change, you can do it by refinancing.
    •  A home loan refinance can give you the opportunity to consolidate your debts. If you are paying high interest rates on credit card bills or personal loans, you may be able to refinance your home loan to pay out these debts.
    What does it cost to refinance a home loan?

    If you are refinancing with a different lender, in most cases, you will be charged an exit fee from your current lender, and potentially an application fee with the new lender. You will also have to pay mortgage discharge and registration fees. Generally the sum of these costs is between $700 to $1,000, all of which can be included in the new loan refinance amount so you do not have any out of pocket expence. An Assured Lending Mortgage broker will ensure that the money you save on a lower interest rate will out way these initial costs to refinance.

    Every loan product and lender have different exit fees, your Assured Lending Mortgage Broker will explain all the costs to you for your individual circumstances, allowing you to make an informed decision on the advantages and disadvantages of refinancing before your commence.

    The Mortgage Broking services of Assured Lending are free to you as the lenders pay us.

    How can a Mortgage Broker help me with my home loan refinance?

    An Assured Lending Mortgage Broker will give you an obligation free, 3 minute home loan review over the phone. If there is an opportunity for you to gain value from refinancing, we will provide you with a detailed loan comparison of the most suitable loans and lenders. We will explain the pros and cons of all your options in an easy to understand manner, helping you to make an informed decision on whether a home loan refinance is in your best interests. We will complete all the application paperwork and liaise with the lender on your behalf, keeping you informed through the entire process from application to settlement and for the life of your loan.

    How many lenders do you compare?

    Assured Lending Mortgage Brokers work with over 30 of Australia’s leading lenders, these include all the major banks as well as 2nd & 3rd tier lenders who specialise in loans for people with more complicated finance needs.

    Mortgage Brokers Manly Lenders

    Home Loan Refinance Tools

    Get my free property valuation report

    Do you know how much your property is currently worth and how much equity you have in your home? We will email you a free property valuation report which includes an estimated valuation on the property, previous sales history, location highlights, comparative sales details for similar properties that have been sold in the same area, median property prices for the suburb, properties sold per year in the suburb, capital growth and more.

    Access free online mortgage calculators

    Assured Lending have a range of free online mortgage calculators so you can get instant estimates on how much you can afford to borrow, loan repayment costs on varying mortgage amounts, repayment comparisons for making additional repayments or varying the frequency of your repayment, the changes to your repayments if you split your loan between fixed and variable rates or if you use a mortgage offset account and more.

    Have one of our team contact you

    to discuss refinancing your current home loan

    A 3 minute home loan review over the phone will let you know if there’s a better option for your lending needs.