Refinancing

Refinance to a loan that works harder for you

If your rate has crept up or your needs have changed, refinancing can lower your repayments, unlock equity or simplify your debts. We compare what is available and manage the switch for you.

Why people refinance

Lenders often save their best rates for new customers. A refinance review shows whether you could be paying less, or getting more from your loan.

A sharper rate

Moving to a more competitive rate can save a significant amount over the life of your loan.

Lower repayments

Free up monthly cash flow by resetting your rate or your loan term.

Access your equity

Release equity for renovations, an investment property or other goals.

Debt consolidation

Roll credit cards and personal loans into one repayment, usually at a lower rate.

Better loan features

Add an offset account or redraw facility your current loan does not offer.

Pay it off sooner

Put your savings toward a shorter term and less interest overall.

Is refinancing right for you?

It is worth a review if any of these sound like you.

Homeowners who have not reviewed their rate in a while
Borrowers coming to the end of a fixed rate period
Investors wanting to unlock equity
Anyone juggling several debts and repayments
Self-employed borrowers after more flexible lenders

How it works

We review your current loan and your goals
We check costs such as discharge and break fees
We compare lenders and show you the difference
We handle the application and approval
We coordinate the discharge of your old loan and settlement

All loans are subject to lender approval, terms and conditions. Fees and break costs may apply.

Common questions

What borrowers usually want to know before they switch.

Will refinancing actually save me money?

It depends on the rate difference and the costs of switching, such as discharge fees, application fees and any fixed rate break costs. We work out the numbers before you decide.

How long does refinancing take?

Typically a few weeks from application to settlement, depending on the lender and how quickly documents are provided. We keep things moving and keep you updated.

Can I refinance a fixed rate loan?

Yes, but breaking a fixed rate early can attract break costs. We will ask your lender for an estimate so you can compare it with the potential savings.

Will refinancing affect my credit score?

A new application adds an enquiry to your credit file. We focus on lenders that suit your situation rather than applying widely, which keeps enquiries to a minimum.

Find out if you could be paying less

Tell us about your current loan and a ProNest Finance broker will get back to you with a refinance review.