Refinancing | Mortgage Brokers Essendon, Moonee Ponds & Coburg

Refinancing your home loan

Refinancing is the process of replacing your home loan with a different product from a new lender. But refinancing isn't our first step - there are a few other things to think about before we get there. Our refinancing journey starts with a free review of your home loan to re-assess what you want from your loan and how your needs have changed.

As Mortgage Brokers, our focus is always on what you want from your refinance: do you want to save money? consolidate debt? access equity to renovate? maximise cashflow? There are so many things you can achieve through reviewing and refinancing your home loan.

Our free home loan review includes:

A review of your home loan and goals: There's so much you can do with your home loan, so the first question our team asks you is: what do you want from your loan? And how does your home loan and rate compare with the rest of the market?

Negotiation with your current lender: We then approach your current lender to negotiate your home loan rate, structure or features. This step is about seeing if your current lender can give us what we need at a cheaper rate. This step might involve a free valuation of your property.

Approach our panel of 35+ lenders: If your current lender doesn't come to the table with a great rate, we go out to our panel of lenders to see if anyone else has a more competitive offer. We do all the negotiation and strategy for you.

Legwork and paperwork: Our Mortgage Broker Essendon team talk you through all the options including what exit fees and other costs come with refinancing. We then do all the paperwork, legwork and follow-up on your behalf.

Our Home Loan Calculators

Refinancing to consolidate debt

Reviewing your home loan can also bring up any other smaller debts you may have acquired since settling. It could be beneficial to merge these debts into your home loan to access a lower interest rate - otherwise known as debt consolidation. But it's not the right move for everyone, so it's important to chat to our team of Mortgage Brokers about the details of your own unique financial circumstances.

What our refinancing clients say

"I just received an email from Fab & his team to say they had renegotiated my mortgage rate to a much better rate. They did that all by themselves! If that isn’t outstanding customer service I don’t know what is! 5 stars ⭐️ Fab always goes above & beyond." [Fiona, Moonee Ponds]

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We're passionate about your loan

Even a small reduction in your repayments can make a difference to your finances. Our team at Mortgage Choice in Essendon work on your behalf to ensure you're getting a market-competitive deal.

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Refinancing FAQs

What is the lower interest rate right now?

Interest rates have changed significantly over the last two years. While your interest rate is important, it's not everything. There are lots of features that could save you money on your home loan, but come with a slightly higher rate. It's all about finding the loan option that works with your finances. You can see what our lenders are currently offering below.

The lowest interest rates from our panel

What is repricing vs refinancing?

While refinancing is a word that everyone knows, repricing is not as well-known. While refinancing usually means going to a new lender with your home loan, repricing is when you re-negotiate with your current lender. Your lender likely has some room to move on your interest rate, so it's always important to ask them what discount they are willing to offer, before going out to a wider panel of lenders. Usually the discount is applied to your home loan that day and there is little to no admin required.

What do I need to provide for a refinance application?

Refinancing with a new lender is basically applying for your home loan all over again. The new lender doesn't know you or your financial situation, so you will need to provide documentation proving your living expenses, assets, debts and identification. But don't stress - that's what our team are here for! We will let you know what we need to apply for your refinance and take it from there.

Let's make it happen

Our team at Mortgage Choice in Essendon are passionate about refinancing and the huge difference it can make to the finances of our clients. If you haven't reviewed your loan recently or are coming to the end of a fixed rate, please get in touch with us to book a free review of your home loan.

Visit our office at 94 Fletcher Street, Essendon. We can also chat by phone, video or in-person across Essendon, Moonee Ponds, Brunswick, Coburg and across Melbourne.

Call: 0433 417 078 Book a free review

Refinancing | Mortgage Brokers Essendon, Moonee Ponds & Coburg

Negotiating our way to a better deal