Refinancing Home Loans for Owners Reviewing Their Mortgage
Looking to reduce your loan repayments?
Wanting a lower interest rate? Wanting to increase your loan and take cash out? Look no further!
At SB Finance we can assist with refinancing your Home loan and help you find a loan that suits your situation. Refinancing doesn’t have to be with your same lender. We have access to over 40 of Australia’s biggest lenders and can help you find the right loan for your needs and circumstances.Based in Sydney's Hills District and helping clients right across Australia, we make refinancing your home loan simple.Reasons you may consider re-financing your Home Loan
- Fixed rate period on your current loan is expiring and is changing back to a higher variable rate
- Your property has increased in value and you would like to use the equity to cash out for renovations or use towards purchase of an investment property
- You want to reduce your repayments by moving to a lower interest rate
- You can afford to pay off the loan faster and want to re-finance to reduce the term
- You want to consolidate other debts such as car-loans, credit cards or personal loans.
SB finance does not offer personal advice and aims to provide information which is factual and in-line with lenders requirements and a customer’s best interest. We encourage you to seek independent legal and financial advice before proceeding. our credit guide and Privacy disclosure is available on our website.
Competitive Options
With access to over 40 lenders, we compare the market to find a finance option suited to your situation. Terms and conditions, fees and eligibility criteria apply.
Loan Deals
Talk to our team about the options available across property, asset and personal finance. We'll explain how each could suit your needs.
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Our Application process is straight-forward and hassle free. We pride ourselves in being responsive and prompt with processing your application!
Personalised Service
Here at SB Finance we treat everybody like one of the family. We pay attention to the detail and make sure we offer nothing but first class service tailored to your needs!
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Whether you have questions or inquiries about our services, we’re here to assist you every step of the way.
Behind on your repayments?
If you are already struggling to keep up, refinancing may not be the right first step. Read our guide to mortgage arrears in NSW for your hardship options and where to get free help.
Frequently Asked Questions
Yes. Refinancing replaces your existing loan with a new one, either with your current lender or a different one. The new lender assesses your income, expenses, credit file and the property’s value, then pays out the old loan. Discharge and establishment costs apply, so the change needs to be worth making.
Common reasons to refinance are to restructure repayments, consolidate other debts into one secured facility, release equity for renovations or an investment, add an offset or redraw facility, add or remove a borrower, or move from interest-only to principal-and-interest. We compare the total cost of changing against the cost of staying.
Often yes. Cash-out means borrowing more than the balance you are paying out and taking the difference as available funds. Lenders will ask what the money is for and may require evidence, and the amount is limited by your property’s value and your serviceability. Larger cash-out requests attract closer scrutiny.
We compare more than the lender. Options include the repayment type, fixed, variable or split, offset and redraw, the loan term, splitting the loan into separate accounts for budgeting or tax, debt consolidation, and whether a partial refinance or a simple restructure with your current lender achieves the same result more cheaply.
It is possible. Lenders weigh the size, age and status of any default or arrears alongside your conduct on the existing loan, and a clean recent repayment history carries real weight. We check your credit file first and approach only those lenders whose written policy accepts your circumstances.
If your new loan is above 80% of the property’s value, Lenders Mortgage Insurance will generally be payable again, and a premium already paid is usually not transferable between lenders. If your property has grown in value or the balance has reduced enough to sit at or under 80%, LMI can often be avoided altogether.
Book a free review. We collect your current loan details, recent statements, income evidence and an estimate of your property’s value, then compare what your existing lender can offer against our panel. If a change is worthwhile we prepare the application and coordinate the discharge with your current lender.
Where to go next
Refinancing is usually a question of structure rather than a single number: the loan type, the features attached to it, and whether the balance is split. Our home loans overview sets out the options, and if you also hold a rental property, refinancing an investment property covers what changes.