Refinancing your home loan can help you:

  • Secure a better interest rate on your home loan
  • Reduce your loan repayments and pay off your mortgage sooner
  • Consolidate personal loans, car loans or credit cards into your home loan
  • Get better product features on your loan (i.e. offset accounts, redraw)

We’ll compare hundreds of home loans from 40+ top home lenders.

With over 40 lenders and 100s of loan products on our panel, we will be able to find the right lender to suit your unique circumstances. We will compare and present the best lender options for you in a simple, easy to understand way.

We will manage all paperwork, documents and research required for your refinance. The days of refinancing being difficult to navigate are gone- our digital, streamlined process makes refinancing your home loan to a better rate simple.

Our knowledge of the offerings of the different lenders mean we can assist you in structuring your home loan properly. If you want offset, interest only repayments, debt consolidation and much more, we know how to piece the application together and choose the right lender.


All lenders are required to correctly identify all applicants. A passport, driver’s licence and Medicare card covers the requirements for nearly all lenders, but substitute documents are available.

Financial information

You will need to supply supporting documents to validate your income, expenses and other liabilities including bank statements. We will detail any supporting documents required for you.

Current home loan details

This includes rate, loan type, fixed or interest only expiries and loan term information so that we can make an accurate comparison with alternate lender options.

Debt consolidation information

If you would like to consolidate any credit cards, personal or car loans into your home loan, you will need to provide statements and details on these facilities

Lender and loan type preferences

If you would prefer a certain lender or loan type (fixed/variable/interest only), please let us know. We will make recommendations based on our assessment and your circumstances, but we are happy to factor in any preferences you may have

Refinancing your home loan is a good deal for many people.

With refinancing, Simplifi Lending can help you secure a more favourable home loan and achieve your financial goals sooner. We have access to more than 40 lenders, so we can find the ideal mortgage for your situation.

When refinancing a home loan, we consider more than just the interest rate. Refinancing comes with fees that can influence which loan is right for you:

Many home loan deals come with an application fee which may not be considered as part of the home loan refinancing costs. This covers the lender’s expenses in processing your application and deciding whether to approve the loan.

Shifting your mortgage from one lender to another requires lots of paperwork. The settlement fee covers the cost of the required administrative and legal expenses.

Your lender may charge a fee to release you from your mortgage early. This is called a ‘discharge’ or ‘break’ fee, and it covers the admin costs of closing your account.

Some home loan products have ongoing fees. Annual fees, account keeping fees, offset fees – these all need to be considered when comparing your loan options.

  1. Talk to our mortgage broker as part of your obligation-free phone consult
  2. Provide your information and supporting documents in our secure Client Portal
  3. Your mortgage broker will research and present home loan options for you to choose from.
  4. Once you have selected your lender and product, your mortgage broker will prepare and package your application and send it to the lender
  5. Upon application approval, we will co-ordinate your new loan documentation as well as the discharge process for your current lender
  6. Once your previous lender accepts the settlement date, your home loan with your new lender will be completed
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Refinancing home loans is a great opportunity to access more favourable terms that can help you pay off your home. There are lots of things to look for when refinancing, including:

Jump to a section in the guide:

  1. Interest rates
  2. Refinancing fees
  3. Loan term
  4. Loan features
  5. Property value
  6. Break fees with existing lenders
  7. Eligibility
  8. Incentives

Your new home loan should have a better interest rate than the one offered by your current lender. Interest rates vary widely depending on the terms of the loan, including its length, the value of the property and your eligibility. Be mindful of introductory interest rates that change after a certain period.

Refinancing home loans comes with various fees. This includes application fees, break fees, legal fees and home valuation fees. By doing your homework, you can mitigate the cost of refinancing your home loan. Make sure that the amount you save by refinancing is enough to cover upfront and ongoing fees.

The length of your loan has a big impact on how much interest you pay over its lifetime. When you refinance, you can usually opt to shorten or lengthen the loan term. Longer loan terms have lower monthly repayments, but you pay more interest in the long term. Shorter loan terms have higher repayments, but you could pay your mortgage off much sooner.

Home loan products each come with their own features. Things like additional repayments, offset accounts, redraw facilities and fixed vs variable interest rates. You need to assess these features and refinance to a home loan that will support your goals.

Lenders consider the value of your property when assessing loan applications. Changes in property values can affect your ability to refinance, and it may make the new loan more or less favourable than your existing deal.

Many lenders charge a fee to release you from your mortgage early. Break costs and penalties are designed to protect the lender from losing money when a customer refinances. Talk to your mortgage broker to find out what fees you’ll be charged if you refinance your home loan.

Although you were successfully approved for your current home loan, lenders still want to check your eligibility when refinancing. Credit scores, income, savings and expenses all change over time, and this can affect your eligibility. Your mortgage broker can check your eligibility and help you refinance to a home loan that suits your current situation.

While your current lender won’t want to lose your business, your new lender may offer incentives to refinance. These incentives include things like useful loan features, introductory interest rates and cash rebates that can offset the upfront costs of refinancing.

Check out our calculators to work out repayments on your current and new interest rate, savings with offset accounts and more!

Making Financing Simple Book A Consult

Why consider refinancing your home loan?

Your home loan was probably a good fit when you originally signed up. But markets shift, interest rates change and property values fluctuate. 

These things can all have an impact on whether your existing home loan is the “right” one for your current situation. If it has been a while since you reviewed your mortgage, it’s time to have a chat with Simplifi Lending.

Our expert mortgage broker can refinance your home loan to a deal that allows you to:

  • Access a more favourable interest rate
  • Switch between fixed and variable interest rates
  • Access your home’s equity
  • Consolidate personal loans, credit cards and more
  • Extend or shorten your loan term
  • Improve your cash flow and savings
  • Take advantage of useful home loan features

Refinancing to the right home loan product can save you hundreds or thousands of dollars and shave years off your mortgage. That means you could own your home sooner, save money for the next big holiday, or use the equity to invest!

What is a Preliminary Assessment?

A preliminary assessment forms an important part of our home loan application process. We will get your basic information, payslips, ID, statements etc. and prepare a detailed, personalised borrowing capacity and funds position assessment.

This forms the basis of a pre-approval should you choose to proceed to that stage, with the information provided for the preliminary assessment comprising nearly all (if not all) information required to get you pre-approved!

We find giving you all of this detail and information upfront means you get far more value out of your meeting with us. We would much rather give you tailored, specific information than ‘rough’ figures from basic online calculators.

How often can you refinance a home loan?

There is no hard and fast rule on how often you can refinance. We suggest you look to review your existing lending at least every two years. This may not necessarily mean you refinance every two years, but reviewing means you ensure you are on a deal that is competitive with your current lender.

As part of our home loan review process, we can check to see what your current lender will offer to retain you and if this is not competitive in the current market, we can then look to refinance you if required.

How long does a home loan refinance take?

The application approval time for a refinance is very similar to that of a home purchase. Some simple applications with certain lenders can be approved in as little as one business day, while more complex scenarios may take 1-2 weeks.

Once your refinance is approved, we will co-ordinate the discharge process with your previous lender, who will generally take 2-4 weeks to allow your new bank to book settlement and finalise the refinance.

What is a refinance rebate?

Some lenders will offer an incentive for you to consider refinancing to them called a refinance rebate. This is generally a sum credited to you once the new loan settles that is designed to cover your switching costs (typically ranging from $2,000-$4,000). This is not available at all times or with all lenders. If a refinance rebate is available to you on a suitable lender, we will bring it to your attention and manage it on your behalf.