Refinance Your Home Loan Melbourne

REFINANCING · MELBOURNE

When did you last check your home loan rate?

Lenders save their sharpest rates for new customers — so the longer you’ve had your loan, the more likely you’ve drifted onto a rate you’d never agree to today. Finding out what you’re really paying takes about a minute.

FREE LOAN HEALTH-CHECK

See what you could be saving

Your loan balance

Your current rate

Compare against

Set to 0.25% below your rate — a conservative view of a sharper rate. Drag to explore.

Estimated switching costs

Includes your current lender's discharge fee and the new loan's setup and admin fees — so it's a fair comparison.

Cashback on new loan

Some lenders pay refinancers a cashback if you're eligible — a one-off, counted in your Year 1 and 3-year totals.

Year 1 saving (after costs)

$420

around $2,920 over 3 years · about $104 a month from your new rate*

You'd recoup switching costs in

about 8 months

Get a free loan review

Estimate only — not a quote, an offer, or credit assistance. Year 1 and 3-year totals are net of your estimated switching costs and include any cashback (a one-off); the monthly figure is your ongoing rate saving. Actual results depend on your circumstances, lender criteria, valuation and fees. *Many owners refinance every 2–3 years.

THE LOYALTY TAX

The longer you stay, the more you pay.

Lenders compete hard for new borrowers — sharp rates, cashback, the lot. But once you’ve signed, that effort disappears. Your rate quietly creeps up with every increase and stalls on the way back down, while the deals you’d qualify for today go to someone walking through the door for the first time.

It’s not a glitch — it’s the model. They’re banking on the fact that life’s busy and switching feels like a hassle, so most people never check. The ones who do are often paying hundreds, sometimes thousands, less a year for the exact same thing.

The average Australian household on an unchecked loan is overpaying by more than $1,000 a year.

WHY PEOPLE REFINANCE

Five good reasons to take a look

A sharper rate

Stop overpaying and bring your monthly repayments down.

A loan that fits

Offset, redraw or split — features that make your money work harder.

Unlock your equity

Put your home's value to work for a reno, an investment or a big expense.

Consolidate debt

Roll high-interest cards and personal loans into your mortgage rate.

Lock in certainty

Fix some or all of your loan, or reshape the term to suit you.

WHEN NOT TO REFINANCE

Sometimes the answer is: don't.

A sharper rate is tempting — but switching only makes sense if you actually come out ahead. So here's when it might not, and when staying put is the smarter call.

When the sums don't stack up

If the saving is small, or you won't hold the loan long enough to clear the switching costs, refinancing can cost more than it saves. That's what the break-even above is for — and if it's too far out, we'll say so.

When a phone call would do it

Sometimes your current lender will simply drop your rate to keep you — no switch, no paperwork. We'll often suggest you ask them first. If they won't budge, then we look elsewhere.

When a lower rate hides a longer loan

Stretching your debt back out over a fresh 30 years can cost you more overall, even at a sharper rate — especially when rolling in other debts. We keep your term honest, so a smaller repayment doesn't quietly cost you more.

That's the whole point of a free review: you find out where you actually stand, with no pressure to switch.

WHY KIAARA

A better deal now — and someone watching it later.

We’re not a bank, so we’re not steering you toward one bank’s products. We compare across 60+ lenders to find the one that genuinely fits — then we stay in your corner. Because the best rate today has a habit of quietly slipping, we check your loan every year, so you’re never the one paying the loyalty tax again.

Sixty-plus lenders

The whole market compared — not one bank’s answer.

Reviewed every year

We don’t disappear after settlement — we keep your loan honest.

A selection of the 60+ lenders we work with

FAQs

Refinancing questions, answered.

How much does refinancing actually cost?

Usually a discharge fee from your current lender, plus setup and valuation fees on the new loan — often a few hundred dollars, up to around $1,000. If you're on a fixed rate, break costs can apply. The calculator above shows the point where your saving outweighs these, so you can see if it's worth it before you commit.

Will refinancing hurt my credit score?

A refinance involves a credit enquiry, which can have a small, short-term effect. What actually causes damage is applying to lots of lenders at once. We match you to one well-suited lender and submit there — minimising the impact on your credit score.

How long does it take?

Typically two to six weeks from application to settlement, depending on the lender and your situation. We manage the discharge from your old lender, so you're not the one chasing paperwork between two banks.

Do I have enough equity to refinance?

As a rule, owing less than 80% of your home's value lets you avoid Lenders Mortgage Insurance and access sharper rates. If you're above that, there may still be options — and rising property values may have quietly moved you under 80% since you bought. We'll check where you actually sit.

I'm self-employed — can I still refinance?

Often, yes. Lenders vary widely in how they assess self-employed income — what one won't count, another will. Finding the lender that's comfortable with your situation is exactly what we're here for, so you're not knocked back for being your own boss.

Should I just chase the biggest cashback?

A one-off cashback is a nice bonus, but a genuinely lower rate almost always beats it over the life of the loan. We weigh both together — using your real numbers — so you're choosing on what leaves you better off, not just the biggest upfront figure.

YOUR FREE LOAN REVIEW

Let's find out if you're overpaying.

Book a free loan review — we’ll check your loan against 60+ lenders, tell you honestly whether switching is worth it, and if it is, handle the paperwork and the discharge for you.

or call 0451 713 231