Refinance Home Loan and Associated Costs

 

Paying too much on your current home or investment loan?

 

Get a better interest rate, even with your current lender?

 

In less than 2 minutes we can give you an honest opinion if you are paying too much on your current home loan or investment loans.

 

We can also show you how to structure your loan so you can  save thousands and years off the term of your loan.

 

If you choose to refinance we will fully cost the change and provide significant cash rebates to reduce the cost of switching loans.

 

 

THE COSTS OF REFINANCING

Before refinancing it is important to calculate the cost of refinancing. You will need to take into account exit and entry fees.

 

Exit Fees

Some of the exit fees that may exist when refinancing are;

 

Discharge of mortgage fee: Can be anything from $50 to $400 depending on the lender.

 

Deferred establishment fee - Usually payable if you refinance your loan within the first 5 years. This largely depends on the lender.

 

Entry Fees

Entry fees you can expect are;

 

Loan application fee: Generally nil to $700 depending on the lender. This includes legal, valuation and other upfront costs incurred by a lender

 

Mortgage Stamp Duty: This may or may not have to be paid again, but you could have to pay up-front and have your lender apply for a refund on your behalf. In most cases you have to pay the stamp duty again, unless everything is the same, i.e. the same names and the same security property. Mortgage Stamp Duty is not applicable in Victoria, ACT and NT

 

Lenders Mortgage Insurance: This may be paid again if your loan amount is greater than 80% of the properties value for fully verified applicants or 60% for low documentation applicants. You may be able to apply for a rebate from your current lender if your loan is less than a year old but this depends on the lenders mortgage insurer.

 

Your Solicitors Costs: This cost may be incurred if you use a solicitor to help with refinancing. Generally, most people act for themselves to reduce this cost

 

REFINANCE CALCULATOR

 

Use our online refinance calculator to help you decide if refinancing is worth the cost

 

 

 

FREE HOME LOAN CHECK

 

Get us to calculate your refinance costs to see if you will benefit from refinancing.

 

 

Important! There are no mandatory fields. Only provide details you feel comfortable disclosing. The more information you provide will help us assess your lending requirements more quickly.

 

Personal Details   Title: Please Select Mr Mrs Ms Miss Name: State: Please Select Australian Capital Territory New South Wales Northern Territory Queensland South Australia Tasmania Victoria Western Australia Other Home Phone Number: Mobile Phone Number: Business Phone Number: Email Address: Preferred Contact: Please Select Home Phone Mobile Phone Business Phone E-mail Best time to Contact: Please Select Any time Morning after 9am Afternoon before 6pm Evening after 6pm       Your Current loan   Current interest rate: % Ongoing fees: Please Select Weekly Fortnightly Monthly Annually Years remaining on your loan: years Your repayments: Please Select Weekly Fortnightly Monthly Annually Who is your current lender?: Property Value: Amount owing:   Additional questions or comments: