What Is Refinancing?
Refinancing means switching your existing home loan to a new one — either with your current lender or a different one. The goal is usually to get a lower interest rate, better features, or to access the equity you’ve built up in your home.
Sign 1: Your Rate Starts With a “6” or Higher
If your home loan interest rate is 6% or above and you haven’t reviewed it in the past 12–18 months, there’s a very good chance a better deal exists. Lenders regularly offer lower rates to new customers while keeping existing customers on higher rates — a practice known as the “loyalty tax.”
Sign 2: Your Fixed Rate Is About to Expire
If you locked in a fixed rate 2–3 years ago, it’s likely about to roll onto a variable rate that could be significantly higher. Now is the time to start shopping around — ideally 3 months before your fixed period ends — so you’re not automatically rolled onto whatever rate your lender decides to give you.
Sign 3: Your Circumstances Have Changed
Got a pay rise? Paid off a debt? Had a child and gone to one income? All of these change your financial picture and may mean you qualify for a better loan — or need to restructure your repayments to suit your current situation.
Sign 4: You Want to Access Your Equity
If your home has gone up in value, you may have built up significant equity that can be accessed through refinancing. This can be used for renovations, an investment property deposit, or consolidating high-interest debt into your lower-rate home loan.
Sign 5: You’re Not Happy With Your Lender
Poor service, slow responses, or a lender that just doesn’t communicate well — these are all valid reasons to move. Your home loan is likely the biggest financial commitment of your life, and you deserve a lender (and a broker) who actually looks after you.
How Much Could You Save?
On a $500,000 loan, just a 0.5% reduction in your interest rate saves you approximately $2,500 per year — or over $75,000 over the life of a 30-year loan. It’s worth spending 10 minutes filling out a form to find out.
Start Your Refinance Review
Claire can review your current loan and compare it against hundreds of options from her panel of lenders — at no cost to you. Fill out the refinance enquiry form and she’ll come back to you with a clear picture of whether switching makes sense for your situation.
Ready to Take the Next Step?
Claire is here to help you navigate your finance journey — no jargon, no pressure, just honest advice.