Refinancing your mortgage

Same home. Better deal? Let’s find out.

We’ll compare your options, crunch the switching costs and see whether your mortgage could work harder for you.

Same home. Could your mortgage work harder?

Life changes. Your mortgage should keep up.

Whether you’re chasing a better deal, wanting more flexibility or wondering what your current bank could offer, we’ll help you compare your options and work out whether switching makes sense.

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What does refinancing mean?

Refinancing means moving your home loan from your current lender to another one, usually while keeping the same property.

It’s different from refixing, which means choosing a new fixed interest rate with your existing lender.

We can help you explore both—because sometimes switching stacks up, and sometimes your current bank is worth sticking with.

Why consider refinancing?

A mortgage review could help you:

  • Find a more competitive deal on interest rates and lending costs.

  • Get more flexibility with features such as offset or revolving credit.

  • Adjust your repayments or loan term to suit your circumstances.

  • Explore borrowing for renovations or other planned expenses.

  • Simplify existing debts, where appropriate.

You don’t need to know exactly what you want to change. Start with what’s working, what isn’t and what you’d like your money to do.

Will switching banks actually save me money?

A lower interest rate is a good starting point. The overall cost matters too.

We’ll compare your current lending with suitable alternatives, including:

  • Interest rates and repayments.

  • Any cost to break an existing fixed loan.

  • Legal, discharge and other switching fees.

  • Any cash contribution you may need to repay to your current bank.

  • Any new lender incentives and their conditions.

Then we’ll help you understand whether the potential savings justify the cost of moving.

A cashback offer can be appealing, but it shouldn’t be the only reason to pack your mortgage’s bags.

Could a different mortgage structure help?

The interest rate gets the headlines, but how your loan is set up matters too.

Depending on your circumstances, you might benefit from:

Splitting your fixed terms: Different portions of your loan come up for renewal at different times.

An offset account: Eligible savings balances reduce the amount of your linked loan charged interest, while your money remains accessible.

A revolving credit facility: Flexible borrowing that lets you repay and redraw within an agreed limit. It needs careful management to keep your debt heading in the right direction.

We’ll explain the options in plain English and recommend a structure that suits how you earn, spend and save.

How does refinancing work?

1. Tell us what you want to achieve

Lower costs? Renovation funds? More flexibility? We’ll look at your goals alongside your current mortgage.

2. Compare your options

We’ll review suitable alternatives from the lenders we work with and explore what your existing bank can offer.

3. Check the numbers

We’ll weigh up repayments, switching costs and potential benefits so you can make an informed decision.

4. Apply if a move makes sense

We’ll prepare your application and help meet the new lender’s requirements. Approval will depend on your finances and the property.

5. Make the switch

We’ll help coordinate with your new lender and solicitor, explain your loan structure and support you through settlement.

A few more questions, answered

  • When should I review my mortgage?

    Before your fixed term ends is a useful time. It’s also worth reviewing when your income, expenses or plans change. Talk to us early so there’s time to assess your options.

  • Can I refinance before my fixed term ends?

    Potentially, but an early repayment charge may apply. We’ll help you obtain the costs from your lender and assess whether switching now makes sense.

  • Will I need a solicitor?

    You’ll generally need a solicitor or conveyancer when changing lenders. Some lenders offer alternative switching services for eligible loans. We’ll explain what’s available and any costs involved.

  • Can I borrow extra for renovations?

    Possibly, depending on your available equity, affordability and lender criteria. We’ll also check whether a top-up with your existing lender could achieve your goal.

  • Can I consolidate other debts into my mortgage?

    It may be possible, but there are trade-offs. Spreading short-term debt over a long mortgage term can increase the total interest paid, even if repayments fall. You’re also securing that debt against your home. We’ll help you consider an appropriate repayment plan.

  • Will lower repayments mean I’m saving money?

    Not always. Extending your loan term can reduce repayments while increasing the total interest you pay. We’ll show you the difference between improving cash flow and reducing overall cost.

  • Do I have to move all my everyday banking?

    Requirements vary. Some offers require your income to be paid into an account with the new lender. We’ll explain what a switch would involve before you decide.

Your mortgage deserves more than an automatic renewal

Before you click “accept” on the next offer, let’s see how it stacks up.

We’ll help you understand what’s available, what switching would cost and whether your mortgage could be doing more for you.

Review my mortgage

General information only. Lending is subject to approval, eligibility criteria and terms. See our Important Information for details about our advice, providers and fees.