Signs it may be time to refinance
- Your rate is no longer competitive compared with current offers.
- Your fixed rate is ending and the revert rate is too high.
- Your property value has increased and your equity position is stronger.
- You want better features such as offset, redraw or split-loan flexibility.
- Your income or expenses have changed and the loan needs to fit your cash flow.
When waiting may be smarter
Refinancing may not help if break costs are high, your credit file needs repair, your income evidence is temporarily weaker, or you plan to sell very soon. In those cases, a rate negotiation or short-term plan may be more suitable.
Review before a major change
It can be worth reviewing your home loan before parental leave, a new investment purchase, debt consolidation, renovations or a business change. Lender assessment can be easier before your income profile changes.
How CredQ helps
We assess your current loan, estimate refinance costs and compare suitable lenders so you can decide whether now is the right time.