• We can discuss your requirements and options over the phone, in a zoom meeting, via email or face-to-face – whatever you prefer.

• We’ll provide you with product comparisons from over 40 lenders, so you can see the best refinance home loan options in the market.

• We’ll let you know if it is beneficial for you to refinance and what cashback promotions are available to help cover any break costs.

• We will prepare the application documentation for the lender you choose and send it to you for your final sign off.

• We’ll request a discount on the banks advertised rate, so you get the best refinance home loan interest rate available at the time.

• Submit your loan application and chase up the bank to ensure you get an approval quickly.

• We’ll ensure the correct interest rates and product selections are detailed in your home loan contract before you sign.

• We’ll make sure your old home loan is discharged.

• We will confirm that the bank has applied the discounted interest rate to your loan and make sure they have transferred the cashback (if applicable).

• We’ll check in to make sure your internet banking is set up and talk you through any issues.

• We’ll review your home loan interest rate every six months to ensure you’re still getting the best interest rate.

How to find the best refinance home loan mortgage broker?

When it comes to finding the best mortgage broker to refinance, it’s important to check a few things before going ahead.

• Check the quality and quantity of their Google reviews and how frequently reviews are posted. If the reviews are not responded to by the business, that could indicate they aren’t very responsive.

• Confirm their qualifications and also that they have a membership with industry bodies either the Mortgage and Finance Association of Australia (MFAA) or Finance Brokers Association of Australia FBAA.

• Check they have their own Credit Representative License appointed by ASIC and that they aren’t an ‘assistant’ or ‘lending support officer’ to the actual mortgage broker that you’ll never have contact with.

• Time how long it takes them to respond to your enquiry. Great mortgage brokers are proactive and responsive both in their client communications and application processing.

What to consider when refinancing your home loan

• Will you be able to secure a lower interest rate than what you are on now?

• Is the bank with the lowest interest rate going to provide you with better service or more flexibility?

• Will the bank you are refinancing with provide a property valuation that enables you to achieve the purpose of the refinance?

• Do you need access to a bank branch network or are you comfortable with an online lender?

• Are there any fixed interest rate break fees payable to your existing bank when you refinance to another lender?

• Will you receive a rebate or cashback offer from the new bank to cover any discharge fees from your current lender?

• Has your current lender ever offered to reduce your interest rate because you’re a loyal customer?

• Are you working with a specialist refinance mortgage broker to help you choose the right home loan for your current and future needs?

Refinance to buy an investment property without a cash deposit

A refinance loan enables homeowners to access the available equity in their property as a deposit for an investment property.

With property values increasing significantly over the last two years, property owners can tap into the capital growth they’ve experienced and build their property portfolios. Regardless of where you want to purchase your investment property, Sydney, Central Coast, Newcastle, Brisbane or anywhere in Australia, becoming a property investor is less restrictive than many think, particularly when working with a specialist refinance mortgage broker like Mint Equity.

How much can I save by refinancing my mortgage?

How much you will save will depend on the difference between your current interest rate and the new interest rate. Interest rates are influenced by the RBA cash rate, however many banks and lenders are providing competitive interest rates to attract new customers. You may also want to consider temporarily changing from Principal and Interest (P&I) repayments to Interest Only (I/O) if you want to reduce your repayments.

You could even consider refinancing personal loans as part of your property refinance process. Incorporating other higher cost debt into the lower cost home loan, for example, will save you even more money because credit card, personal loan and car loans interest rates are significantly higher than a home loan interest rate.

Can I refinance a Self Managed Super Fund (SMSF) loan?

Yes, there are now many more lenders offering Limited Recourse Borrowing Arrangements for Self Managed Super Funds (SMSF).

Many lenders also offer offset accounts for SMSFs, which is an excellent option for SMSFs with funds sitting in a cash management account earning minimal interest. By moving the funds into the SMSF offset account, you can reduce the amount of interest payable on the repayments, enabling you to pay down the principal quicker.

Refinancing SMSF loans can take a bit longer to complete as it is a more complex loan scenario, and there are more costs associated with the refinance process, however some lenders are waiving the SMSF loan legal review fees and offering cashback promotions to reduce the costs of refinancing.