Question 1

How do I know if refinancing is worth it?

Accepted Answer

Refinancing is worth it when the total benefit over the time you plan to keep the loan clearly exceeds the total cost of switching — interest saving and any cashback against discharge fees, application fees, valuation fees and break costs.

Question 2

What does it cost to refinance a home loan in Australia?

Accepted Answer

Typical costs include a discharge fee (often $150–$400), an application or settlement fee (sometimes waived), a valuation fee, and government registration charges. Breaking a fixed-rate loan can add break costs in the thousands.

Question 3

Can refinancing trigger Lenders Mortgage Insurance again?

Accepted Answer

Yes. LMI is not transferable between lenders, so if your new loan is above 80% of the property’s current value you may pay a fresh LMI premium.

Question 4

How long does refinancing take?

Accepted Answer

A straightforward refinance typically settles in two to four weeks from application, depending on the lenders, valuation turnaround and how quickly documents are supplied.

Question 5

Will refinancing hurt my credit score?

Accepted Answer

A refinance application creates a credit enquiry, which can cause a small, temporary dip. Applying to many lenders at once has a larger effect — a broker matches you to the most suitable lender first.

Refinancing in Australia, without the guesswork.

Frequently Asked Questions