Refinancing & investing
Home Loan Refinancing
Lenders often save their sharpest rates for new customers, so loyal borrowers can end up paying more than they need to. We compare your current loan against the market, ask your existing lender to sharpen its rate, and only recommend switching when the numbers clearly work after costs.
Homestead is a mortgage broker, not a lender. Our service costs you nothing.
How it works
- 1
We review your current rate, loan balance, fees and features.
- 2
We compare the market and work out the real saving after switching costs.
- 3
We approach your current lender first. Sometimes a repricing is the simplest win.
- 4
If switching is better, we manage the application, discharge and settlement for you.
Who it suits
- Borrowers who have not reviewed their rate in the last year or two
- Owners coming off a fixed rate period
- Anyone wanting an offset account, redraw or a different structure
- Owners who want to consolidate debts or access equity
What lenders look at
A guide only. Each lender sets its own criteria, and they change.
- Current loan balance against the property's value (your LVR)
- Recent repayment history on the existing loan
- Income that still supports the loan at today's assessment rates
- Any break costs on fixed rate loans
Frequently asked questions
Compare the interest saved against discharge fees, new loan costs and any fixed rate break costs. We do this sum for you and show the break-even point before you decide.
A new application adds an enquiry to your credit file. That is why we compare and shortlist first, and only apply where approval is likely, rather than shopping the application around.
Typically a few weeks from application to settlement, depending on the lenders involved. We keep you updated at each stage.