Refinancing
Take advantage of better rates on the market and start saving

Rated 5 from 65 Reviews
Take advantage of better rates on the market and start saving
Rated 5 from 65 Reviews
Refinancing can be a valuable strategy for homeowners looking to optimise their financial situation. At fundfin., we specialise in helping you access loan options from banks and lenders across Australia. Whether your aim is to secure a lower interest rate, change your loan term, or consolidate debts, our expertise can guide you through the process. With a thorough understanding of the refinance interest rates offered by various institutions, we provide tailored solutions that align with your unique needs.
One of the primary reasons to consider refinancing is the opportunity to access a lower interest rate. Interest rates fluctuate over time, and if your current rate is higher than what is presently available, refinancing could reduce your monthly loan repayments. This is especially beneficial if you have a variable interest rate and want to take advantage of more favourable terms. For those with a fixed interest rate whose fixed rate period is ending, now might be an ideal time to reassess your options. Fundfin. offers access to banks and lenders nationwide, ensuring you find the most competitive rates available.
Another significant advantage of refinancing is the potential to release equity from your property. Releasing equity could provide the funds needed to buy your next property or invest in other ventures. Additionally, if you're looking to consolidate debts, refinancing can simplify your repayments into a single, more manageable loan amount. This approach not only streamlines the application process but may also lead to improved financial health by reducing overall interest costs. Our team will work with you to check eligibility for special lender policies that may apply to your situation.
Refinancing can be tailored to suit various objectives beyond just accessing better loan options. For instance, adjusting your loan term can have immediate benefits on your financial flexibility. Whether you wish to extend your term for lower payments or shorten it to pay off your mortgage faster, our advisors can help structure the loan to fit your goals. With access to banks and lenders nationwide, fundfin. ensures a comprehensive comparison of options that cater specifically to your needs.
Assessing your credit history and financial situation is a crucial part of the refinancing process. Lenders will typically require recent bank statements and an evaluation of your credit profile as part of the application process. At fundfin., we simplify this step by providing a streamlined application process that minimises hassle and saves you time. By understanding the nuances of refinance interest rates and lender requirements, we facilitate a smoother transition into more favourable loan conditions.
Refinancing can be an effective tool for managing your financial future more efficiently. At fundfin., we are committed to helping you access the most advantageous loan options from banks and lenders across Australia. With our assistance, you can explore possibilities such as reducing loan repayments, releasing equity for new investments, or securing a more suitable interest rate. Contact us today to discover how our expertise can support your aspirations and improve your financial outlook.
Initial Consult
Have a chat with one of our qualified Mortgage Brokers who will understand your situation and talk you through the next steps.
Fact Find
We'll work with you to understand a bit more about your situation (including your financials, assets etc.) to make sure you will qualify for a loan.
Loan Approval
We'll find the best loan on the market for you and your situation and present you back some options.
Sit back and relax!
We'll prepare and submit your application on your behalf and let you know when it's all complete.
Book AppointmentBC
Bertrand Caron
James was extremely competent and helpful. 10/10 would recommend!
GK
George Kallinicos
We found James timely and responsive making the mortgage process easy. Highly recommend him
NH
Narelle Heck
James's knowledge and understanding of SMSF loans was instrumental in getting our commercial property purchase over the line. Will definitely be continuing with James for all our future finance needs.
An offset account is a transactional account that sits against the loan. Any funds held in this account go to offsetting interest payable on the loan. For example, if your loan balance was $100,000 and you held $90,000 in your offset account, you would only be paying interest on $10,000. While the principal reduction repayments would remain the same, you would pay less interest over the life of the loan, thereby reducing the overall loan term saving you thousands or more! As with any everyday transactional account the funds are accessible at any time.
Generally if you are on a fixed rate loan you won't have access to an offset account however some lenders offer niche products that allow you to offset all or part of the fixed loan.
Redraw is where you make additional repayments above the minimum required as part of your loan contract. Some lenders allow you to draw on these additional repayments as required (sometimes for a fee) however this may impact on your loan balance and the interest payable.
Mortgage brokers operate independently of any financial institution. We're not locked into any relationships with specific lenders and want you to have the most competitive option based on your own unique set of circumstances. There is no 'one fit' solution for any client and we aren't limited to one lender's suite of products.
Best of all - there is no cost to you to use our service!
Yes you can. It comes down to the purpose and use of funds, as dictated by the appropriate lending guidelines.
For example, residential loan cannot be used for business purposes and vice-versa. We can assist in determining what loan is most suitable for your circumstances.
Not necessarily! Lenders Mortgage Insurance (LMI) is a premium charged by the lender's insurer for customers who need to borrow money above the maximum thresholds set by the insurer. Usually this is for loans above 80% loan to value ratio (LVR). However, some lenders offer LMI waivers for clients with certain professional qualifications up to 95% LVR, and other lenders may offer an alternate interest rate for customers with lower deposit without charging an LMI premium. There are also government backed first home buyer schemes which may allow for a deposit of 5%.
If you have any existing properties, you could also use the equity towards some or all of the deposit, including any associated costs such as stamp duty.
Some lenders also offer family pledge, or guarantor products where you can use the equity in a family member's home to borrow up to 100% of the purchase price plus costs.
Borrowing power is determinant on several factors. These can be a combination of, but are not limited to;
The lender
Your income (including rental income, pensions or super annuities, and government payments)
Your existing liabilities, such as credit cards, personal loans and HECS debts
Your monthly living expenses, fixed and discretionary
Lenders stress test the ability to afford loan repayments by running the loans against a floor rate, which is usually a couple of percentage points above the current market rate. This is to safeguard you in the event that if interest rates were to rise, you could still afford to make your repayments without experiencing significant hardship. Some lenders' floor rates are higher than others, meaning that you may be able to borrow more with Lender A than Lender B.
Existing debts, such as credit cards will also have an impact on how much you can borrow. While a $10,000 credit card might not seem like a lot in the scheme of things, it could be the difference of tens of thousands of additional borrowings on your home loan! This is where we can guide you to find the right options to suit your circumstances.
Absolutely - we can guide you through the entire process, from how much you can borrow, to first home buyers concession eligibility, putting you in touch with conveyancers and much, much more!
Absolutely, however it is important to note about what your goal actually is. For the sake of a few thousand dollars is it worth paying a few basis points more where any cash gain you have made will be eroded by the additional interest you're paying. If you have entered in to a longer loan contract, then you will likely end up paying more interest over the life of the loan, even if your initial rate is lower than what you were on.
Many lenders are offering rebates between $1000 and $4000 and some of these multiply per property refinance. We can discuss these options with you in your initial enquiry.