Life changes. Maybe the family’s grown, you’re dreaming up a renovation, or you just want to know your loan is still pulling its weight. Rates and lender rules change too, so the loan that suited you a few years ago might not be the best fit today. A loan review looks at the whole picture — not just whether a lower rate exists somewhere else.
Cashback offers and advertised rates can look great on the surface. But they don’t always account for break costs, discharge fees, or losing features like an offset account (a savings account linked to your loan that lowers your interest). A proper refinance review weighs the full cost of switching against what you’d actually save over time.
Refinancing is also a good time to rethink your whole loan setup — rolling other debts into one loan, using your equity (the value you already own in your home) for a renovation, or restructuring before buying an investment property.
I compare your current rate against what’s realistically available, based on your loan-to-value ratio (how much you owe compared to the property’s value) and your credit history.
I check whether features like an offset account or redraw (taking back extra repayments you’ve made) are worth more to you than a slightly lower rate.
I work out if the cost of leaving your current loan is actually smaller than what you’d save by switching.
Each reason changes what I focus on when comparing your options.
Simply moving to a better rate or loan term with a different lender, once I’ve checked the numbers still work after switching costs.
Cashback deals can be worthwhile. I check the ongoing rate and the fine print behind the upfront offer before recommending it.
Rolling higher-interest debt (like credit cards) into your home loan to simplify repayments. A lower rate doesn’t always mean less interest overall — spreading short-term debt over a long loan can cost more in total, so I check this first.
I structure a refinance to release usable equity for a renovation or your next property, without stretching you too thin.
Healthcare pay doesn’t always look the same year to year. Moving from casual to permanent work, picking up extra agency shifts, or changing your salary packaging can all change what a lender sees on your file. These variations can apply to many different careers and all need careful assessment so your application shows your income fairly. My nursing background means these changes aren’t treated as warning signs to work around. They’re normal parts of a healthcare career, and a refinance can actually be timed around them.
A few things worth understanding before you commit to refinancing.
I compare the total cost of staying with your current loan against the total cost of switching — rate, fees, features and break costs — rather than just looking at the rate difference.
These are fees your current lender charges for leaving a loan early. They’re most common on fixed-rate loans. I check these before recommending you switch.
A refinance application does involve a credit check. This can have a small effect on your credit score, usually for a short time. I’ll talk about timing if this worries you.
It varies by lender. A refinance is usually quicker than buying a first or second home. I keep you updated at every step.
Send me your current rate and loan details. I’ll give you a straight answer on whether switching is actually worth it.