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The mortgage that helped you purchase your first home may not be the best option, five, ten or twenty years down the track. As your lifestyle and financial circumstances change, it will be necessary to review your home loan to ensure you’re getting the best deal.

Refinancing involves switching your home loan for a more suitable product that will suit your changing needs or to take advantage of a better rate and lower fees. While it may seem easier to keep your home loan where it is, complacent borrowers could miss out on thousands of dollars and prolong the life of their loan.

Comparing the entire range of mortgage products on the market is daunting, but with the help of our Home Loan Specialists you can ensure refinancing gives you a product that suits your exact needs and a better rate.

Types of Refinancer Loans

Variable Home Loans

Fixed Home Loans

Split Home Loans

Toggle Offset Loans

If you’ve decided to refinance an existing property, you’ll need to take a look at a few things such as the terms of your current loan including interest rate, maturity rate, and type of loan, as well as the equity you have in your property.

A home loan health check will look at all these things and help you to identify if your current home loan is still working for you and meeting your requirements.

A home loan health check can be performed with a Mortgage House home loan specialist in person or over the phone in as little as 20 minutes. They can advise the perfect rate and home loan product for you.

After you determine the amount of equity you have in your property, we’ll introduce you to the wide range of products that we have available. You’ll have flexibility, security and a product designed to suit your needs.

After a preliminary meeting with a Mortgage House Home Loan Specialist, we’ll be able to provide pre-approval of your loan and help you move ahead with your plans.

You have options with Mortgage House. We can help if you are looking to:

  • Save money on your current interest payments by refinancing at a lower rate
  • Consolidate your existing personal debt into one, lower-interest home equity loan
  • Upgrade a room in your home

We’re here to advise you and help you make the right choices about your financial future. Our Home Loan Specialists will make the refinancing process as smooth as possible.

How do I know what is the right time to refinance?

The loan you have now might have suited your needs when you first bought your home, and there might have even been different mortgages available then, than there is now. However, times can change, and so can loan requirements. Your current loan may not be the best option for you and your family now. Or maybe you have a number of smaller loans as well as your home loan, and you realise you are paying way too much in repayments. Being able to refinance can mean putting all those loans into one new loan, or taking out a new home loan with a better rate or lower fees. While it may seem easier to keep things where they are now, finding a refinancer could save you thousands of dollars and help you avoid prolonging the life of your loan. Having everything under the one roof, so to speak, can make a big difference. Scheduling a regular mortgage check-up is one way to always ensure you are in the best position you can be. Housing loans can be difficult things to keep on top of, and we want to make sure you are getting the best deal possible. Whether that’s turning to a refinancer, or tweaking your current loan, our experienced advisors can make a big difference.

What new loan options are there?

It is important whether you seek out a refinancer, or whether you keep things the way they are, to be clear about your goals. Perhaps a new loan is the answer. At Mortgage House, we have loans that can suit any situation. Our two most popular loans are our variable rate and fixed rate loans. We also offer split mortgages, which, as the name suggests, can split your loan into variable and fixed rates. No matter what your credit history, we are interested in hearing from you. You might be surprised, and be eligible for a loan even if you thought you weren’t. We have access to loans for people who have had bad credit in the past, as well as low deposit and low doc options. And if you can support your loan application with a pledge from your family, we have a product as well. And, of course, if you are looking for a new loan, we also offer toggle offset loans portable loans, and interest-only loans.

How often should you refinance

What is the best refinanced loan option?

Being a refinancer, we can unlock the potential of your mortgage loan. However, you may not like the idea of a refinanced loan, especially if your first mortgage loan was a difficult and a bit of a struggle. Going through our choice of mortgage loans to find a refinanced loan will be a similar experience in terms of process, but you are not a first home buyer this time, which is great news. The fact you have been through it all once before can make you better equipped. And we can be there to help this time. As a refinancer of mortgage loans, we know every step of the process intricately. And we use that knowledge and experience to help you take the stress out of finding a refinanced loan.

Where can I find out more about refinancing?

So, why should you consider refinancing now? With interest rates at historically-low levels, the current environment can present you with a great opportunity. The current variable rates can be a lot lower than when you first took out your loan, which can be very attractive. But it’s important to not make refinancing all about the interest rate. Refinancing mortgages should be done with a goal in mind. Consolidating your debt in one loan, or refinancing to buy another property, can result in different f loan recommendations from us. There are no hard and fast rules, but we can help you keep an eye on things, and let you know when the time is right to refinance to achieve your goals. That can mean keeping an eye on your current loans, as well as the economic environment, and even your own family’s needs. There are lots of reasons to refinance, and having us around with access to the same loans as other lenders, means we can make these kinds of moves easier.

Do you know how your home can help?

Your current home can play a big role in refinancing your loan. If you have been paying off your home loan with no major dramas over the years, you have probably built up a lot of what’s called equity. When it comes to refinancing, equity can be solid gold. Equity is the market value of your home, minus the balance of your loan. The more equity you have, the easier it can be to hit your refinancing goals. Lenders will use another equation based around how much you want to borrow, up against the market value of your property, and come up with a percentage. Anything greater than 80% can be labelled as high risk.

Our Refinancer Loans

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