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Home Loan Refinancing in Australia
Over time, a home loan that once suited you can become outdated. Interest rates change, lender policies evolve, and your own circumstances often look very different from when the loan was first set up. Without reviewing your loan, you may be paying more than necessary or missing out on better features.
At Palisade Brokers, we help Australians refinance their home loans with a clear strategy in mind. Whether your goal is to reduce repayments, access equity, consolidate debts, or improve loan flexibility, we focus on structuring a refinance that genuinely improves your position.
Because we’re broker-led, we compare lenders rather than pushing a single option. That means clearer advice, realistic expectations, and a refinance solution aligned with your long-term plans, not just a short-term rate change.
What Is Home Loan Refinancing?
Home loan refinancing involves replacing your existing mortgage with a new loan, either with your current lender or a new one, to better suit your needs.
Refinancing may allow you to:
- Secure a more competitive interest rate
- Access improved loan features
- Release equity
- Adjust loan structure or term
The right refinance should improve your overall financial position, not just look cheaper on paper.
What Home Loan Refinancing Is Commonly Used For
- Reducing interest rates or repayments
- Accessing equity for renovations or investments
- Consolidating debts into one repayment
- Switching loan types (fixed, variable, or split)
- Improving flexibility with offset or redraw
How Home Loan Refinancing Works
Refinancing follows a similar process to applying for a new home loan, but with additional considerations around your existing mortgage.
Common steps include:
- Reviewing your current loan and costs
- Assessing property value and usable equity
- Comparing lender options and policies
- Discharging the existing loan and settling the new one
Factoring in fees, timeframes, and future flexibility is just as important as the interest rate.
Who Home Loan Refinancing Is Best Suited For
Home loan refinancing may suit:
- Homeowners whose loan hasn’t been reviewed in years
- Borrowers seeking lower repayments or better features
- Those looking to access equity
- People whose income or circumstances have changed
- Homeowners planning renovations or investments
If refinancing isn’t the right move, we’ll explain why and explore alternatives instead.
Key Benefits of Home Loan Refinancing
- Potentially lower interest rates
- Improved loan features and flexibility
- Opportunity to restructure debt
- Access to home equity
- Alignment with current financial goals
Common Challenges (And How We Solve Them)
Refinancing costs outweighing savings → We calculate real-world savings before recommending a move.
Changes in borrowing capacity → We assess serviceability upfront to avoid surprises.
Unclear loan structures → We design structures that support future plans.
Confusion around lender policies → We compare lenders and explain trade-offs clearly.
Our Process at Palisade Brokers
- Initial Review & Strategy Call
Understand your current loan and goals - Assessment & Structure Review
Analyse equity, costs, and refinancing options. - Lender Selection & Application
Match you with lenders offering genuine improvements. - Settlement & Ongoing Review
Support through settlement and future reviews.
Related Loan Options You May Want to Explore
Frequently Asked Questions
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A refinance is worthwhile if the long-term benefits outweigh the costs and suit your goals.
Speak with a Refinancing Specialist
