Refinancing your home loan

Refinancing is the process of taking out a new mortgage to replace an existing loan. While this can be with the same lender, it often involves switching to another bank.

It might be time to think about switching your loan if you have been thinking about moving home or renovating. Refinancing could also give you access to additional features like an offset account or a lower interest rate.

To get a better interest rate or different features and add-ons such as redraw facilities or flexible payments.

To use the equity in your home to borrow money to renovate or improve your lifestyle with a new car or holiday.

To consolidate debts such as a personal loan, car loan or credit card into your mortgage so it’s easier to manage your finances.