Apart from accessing cheaper interest rates and new home loan options, refinancing your mortgage grants you access to equity that can be used to borrow additional funds for personal or investment opportunities overseas. If your income is in a foreign currency, refinancing your mortgage may also allow you to assess the impact of currency fluctuations and cut down your home loan costs.

Get a home finance assessment

Get your Loan Market mortgage broker to conduct a home finance assessment, they will help you compare your current loan to new finance products, consolidate debt and even negotiate a better deal with your current lender. Simply complete the form on this page or call +61 2 9249 3739 and we will contact you at a time that is convenient for you.

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Refinancing costs

While beneficial, refinancing your mortgage can be a costly process, to ensure that the costs do not outweigh the benefits before proceeding with a refinance. A simple home finance assessment can be used to weigh the pros and cons and determine if a refinance is the right strategy for your situation. Some of the costs you can expect to pay when refinancing include:

• Exit fees such as deferred establishment fees and deferred settlement fees
• Penalty interest if you are currently on a fixed rate loan
• Switching fee if refinancing with your current lender
• Entry fees such as application fees
• Lenders Mortgage Insurance (LMI)
• Valuation fee
• Duties and taxes
• Legal costs