Many Australian homeowners stick with their existing lender long after their rate stops being competitive. The Reserve Bank of Australia has found that loyalty rarely pays — existing customers often pay significantly more than new customers with the same lender. Refinancing gives you the opportunity to access a better rate, consolidate debt, access equity, or change your loan structure.
Common Challenges
What's Included
Our Process
Why Choose Wiseman Financial?
Frequently asked questions
How much could I save by refinancing?
This depends on your current rate, loan balance, and remaining term. Even a 0.5% rate reduction on a $600,000 loan can save approximately $3,000 per year in interest. We'll calculate the exact figure for your situation.
Are there costs involved in refinancing?
Yes — discharge fees from your existing lender, application or establishment fees with the new lender, and potentially break costs if you're leaving a fixed rate. We calculate all of these before recommending a switch.
How long does refinancing take?
Most refinances settle within 4–6 weeks from application submission, depending on the lenders involved and how quickly you can provide documents.
Can I refinance to access equity?
Yes. If your property has increased in value, you may be able to refinance and draw on that equity for renovations, investment, or other purposes — subject to lending criteria.