Referred by some as ‘loan switching’, refinancing is basically a process of paying out your current home loan by taking out a new loan. This can be done with a new loan from your existing lender or through a different lender.

Every year, thousands of Australians refinance their home loans. Home loan refinancing can help you to:

• get a lower interest rate, so you can pay off your loan faster.
• make your loan repayments more affordable.
• consolidate all your high-interest debts to make them easier to manage.
• afford home renovations.
• buy an investment property or other asset using the equity you’ve built up in your home.
• switch from a variable interest rate to a fixed rate, or vice versa.
• get access to additional loan features, such as redraw facilities or offset accounts.

Variable rate 2.64% p.a.* / Comparison rate 2.66%.

• Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
• Principle and Interest loans up to 80% LVR for owner-occupied properties only.