Refinance

Refinance and Save: Smarter Choices for Your Financial Future

Refinancing your mortgage can be a powerful tool for Australian property investors seeking to grow their wealth. Ratewise Finance offers comprehensive refinancing services, connecting you with competitive loan options from banks and lenders nationwide.

By refinancing, you can potentially secure a lower interest rate, reducing your monthly repayments and freeing up funds for other investments.

You can also adjust your loan term, either extending it for lower repayments or shortening it to pay off your mortgage faster.

Additionally, refinancing allows you to access equity, tapping into your home’s value for property purchases or other investments, and consolidate debts, simplifying your finances and potentially improving your credit score.

Ratewise Finance provides personalised guidance, streamlining the application process and helping you find the best loan for your needs. We assess your financial situation, credit history, and goals to recommend tailored solutions.

Contact Ratewise Finance today to discuss how we can help you achieve your financial objectives for your construction projects and make your dream come true.

Low rates and affordable monthly payments

Home Purchase

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Refinance

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Loan Options

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What is Refinancing?

Refinancing involves replacing your current home loan with a new one. This can help you secure a lower interest rate, reduce your monthly payments, or access the equity in your property. Common reasons for refinancing include:

With interest rates fluctuating due to economic changes, refinancing can be a smart move. As Reserve Bank of Australia Governor Dr Philip Lowe suggests, it’s worthwhile to explore refinancing options to find better deals.

Lowering monthly repayments

Changing the loan term

Accessing home equity

Consolidating debt

Am I Eligible to Refinance?

Eligibility for refinancing is influenced by factors such as credit score, income, property type, and loan-to-value ratio. Even if traditional refinancing options seem out of reach, we have access to a broad range of lenders who may offer alternatives.

Refinancing Process Timeline

Typically, refinancing takes about 15 to 30 business days, involving a credit check, property appraisal, and underwriting to determine your eligibility and the new loan terms.

Is Refinancing Worth It?

Generally, refinancing is beneficial, but it’s essential to review your individual circumstances with a mortgage broker. A broker can provide clear insights into the advantages and potential savings of refinancing, helping you make an informed decision.

Documents Required for Refinancing

To refinance, you’ll need to provide documents similar to those required for your initial loan. This includes proof of identity, income, expenses, assets, and existing liabilities, such as driver’s licences, passports, loan statements, and payslips. Your mortgage broker will guide you on the specific documents needed.

Potential Disadvantages of Refinancing

While refinancing can offer many benefits, it’s important to consider potential costs such as government fees, bank fees, and possible break costs if you’re on a fixed-rate loan. Multiple credit inquiries in a short period may also impact your credit score. Consulting with a mortgage broker can help minimise these issues and find the best solution.

Call our mortgage brokers to find the ideal home loan and start your property journey with your family

Why Choose Ratewise Finance for Your Refinance?

Ratewise Finance is dedicated to providing exceptional loan options and customer service. Our experienced brokers are well-versed in government schemes and regulations across Australia, ensuring a smooth refinancing process.

Reduce Your Monthly Payments

Adjust Your Loan Term

Access Your Home Equity

Consolidating debt