Home Loan Rates at an All-Time Low. Refinance Today!

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Refinancing allows homeowners to replace their existing loans with a new one to acquire better interest rates or additional features. With home loan rates currently at an all-time low, a home loan refinance may be a smart option to improve your current or future financial situation. Some homeowners refinance a home loan to turn real estate equity into cash for renovations, make other investments or even go on a well-deserved holiday. Borrowers may also take out new home loans to simplify their finances by combining their multiple, high-interest debts into a single, lower-interest loan. Whatever your needs are, the mortgage experts at Rateseeker can help you fully understand the upsides and downsides when deciding to refinance your home loan. We’ll assess if refinancing your mortgage is the right decision for you and help lock down a better deal on your home loan with ease.

Our goal is to make refinancing simpler for every Australian. Rateseeker has access to a comprehensive list of home loan refinance offers from Australia’s big four banks and top lenders to help borrowers can secure lower interest rates, consolidate debt or cash out some equity from their current property. -By working with us, you get an expert on your side to help you secure the sharpest refinance rates available. We help you compare today’s mortgage rates from top Australian lenders so you choose the loan product that best suits your financial capabilities. To help you get started, use our free and easy-to-use refinancing comparison tool to find out how much you could save on your home loan.

When you’re ready to refinance, our mortgage brokers will take you through the costs involved from switching from one lender to another such as early exit fees, appraisal fees and application fees that you may need to account for. If you’re exploring how to refinance a home loan, speak with one of our mortgage brokers for a complimentary, obligation-free consultation now.

Why Refinance?

Lower interest rate %

A better rate will lower monthly repayments or help pay down your loan faster.

Consolidate debts

Roll up all high-interest debts into one single lower-interest payment.

Get some cash out

Get cash out for a rainy day or home renovations, or even a well deserved holiday.

Home loan flexibility

Switch to a variable or fixed monthly repayment based on your current situation.

3 Simple Steps

  1. Enter current loan details
  2. Review your position
  3. Compare low rates
  4. Chat with us to see what suits your unique situation
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All-time low rates are waiting!

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Seeking the best rates for you

Rateseeker has access to all of Australia’s major banks and over 30 third-party lenders. Everyone has a unique situation and we’re here to help find the right home loan and interest rate to suit you.

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FAQs about Refinancing a Home Loan

  • What is Refinancing?

    Refinancing is a process of taking out a new loan to pay off the existing loan typically at a lower rate or for better features. People wanting to change their home loan is usually because of a change in the circumstances or goals which can be a smart way to manage money. It may give you the option of securing a lower interest rate, consolidating debts or unlocking equity from your current property. Speak with one of our mortgage brokers and find out if refinancing is right for you.
  • Why do people refinance?

    Refinancing can be used for various reasons, which include but aren’t limited to: Home Renovations, Reducing monthly repayments, Lowering your interest rate, Cashing out your Home Equity, Raise cash for another purchase (another house, car, boat etc), Access Additional home loan features (offset account, redraw facility etc.), Borrow additional funds
  • How much does it cost to refinance?

    Refinance can help you save money and own your home sooner however there are costs involved in refinancing from one lender to another lender.
  • Why should I use Rateseeker over a bank for my Home Loan?

    Going direct to a bank for your home loan means you will only be getting advice on their own home loan products. As much as we would all love a perfect world, a bank will never tell you if other lenders are offering a better rate or deal or whether a different lender's product is better suited to your needs.
  • What fees does Rateseeker charge?

    Absolutely nothing. We get paid indirectly by the banks so we don't charge our clients any consultation fee. In other words, the bank pays us for bringing in new application while giving you the right credit advice. It’s a win - win for everybody.
  • How much can I borrow for my loan?

    Your borrowing power is affected by many factors, such as (but not limited to): your income, price of the property you’re looking to purchase, any other debts you currently hold, no. of dependents, your current living expenses
  • When you shouldn’t consider refinancing your property?

    Refinancing is generally a good idea for most borrowers but there situations where switching loans just isn't worth it.
  • How can I consolidate my debt and is it a good idea?

    Debt consolidation is when you payoff your existing debts such as credit cards, personals and car loans with a new debt.
  • Do I need to organise a valuation on my property if I want to refinance?

    The lender you are refinancing to will request a valuation report on your property to get an up-to-date market value. This valuation fee is generally paid by the lender that you are refinancing to. Your mortgage specialist will be able to confirm this before you put an application in.
  • What home loan type is right for me?

    We have access to over 30 lenders in our panel effectively giving you close to 1,000 different loan options. This can be a daunting task to navigate through so many different options.
  • Should I go for a fixed or variable interest rate?

    This is a very common question. The main reason why you may want to consider a fixed rate product over a standard variable is if you wish to have certainty in your home loan repayment over a period of time. There are limitations to a fixed rate product.
  • What’s the difference between an investment loan and a home loan?

    Most features are the same between an investment loan and a home loan. Some lenders applies a different interest rates on investment loans, usually higher if there is more risk associated with it. A key difference between investment loan and a home loan is that interest on investment loan is 100% tax deductible which can be used to offset your rental income.
  • Once I take out a loan, how frequently will I need to make repayments?

    You will most likely be given a choice to choose a repayment cycle by your lender from weekly, fortnightly and monthly. If your loan is interest only, some lenders will only allow you to have monthly loan repayment.
  • What costs and fees are involved with buying a property for investment purposes?

    There are fees associated with purchasing a property that you will need to make room in your budget for.
  • What is a pre-approval?

    A pre-approval, put simply, is an indication of your borrowing ability. A pre-approval is a good way to understand how much you can borrow with a particular lender. However, it is not an indicator that will guarantee a mortgage offer.
  • What is a mortgage broker?

    A mortgage broker is someone who acts as a go-between between the borrower and the lender to help find you a suitable loan It is the broker’s responsibility to understand your situation and find out exactly what you are looking for. They will then filter through all the home loans available on the panel and narrow down the type of loan you want, taking into consideration your situation and any special requirements you have.
  • What is a Mortgage Registration Fee?

    This fee applies when you register the physical property as the security on a home loan. (Purchase and refinance) This is important because it allows buyers to check if there are any claims on the existing property. The fee is paid when a home loan is established or when it’s discharged. The cost of the mortgage registration fee varies from state to state.
  • Is there a difference between a mortgage broker and a bank lender?

    While banks and other lenders often have their own lending specialist, you may find that they can only provide advice on their own products. A mortgage broker on the other hand has over 30 different lenders and will do the legwork comparing one lender against another giving you the best outcome. This will also save you time allowing you to other important things like finding your dream home.
  • How can you help a mortgage broker?

    The recommendation put together by a mortgage broker is based on the information you as a borrower provide. This means the more information you can provide to your broker about your personal circumstances and financial situation upfront, including proof of income and expenses, the better they’ll be able to tailor their recommendations to suit your specific needs.
  • What is lender’s servicing policy?

    Servicing policy refers to a set of criteria lender uses to determine how much you can borrow. The criteria is based on lender's risk appetite and recommendations by regulatory bodies like APRA and ASIC. Different lenders will have different servicing policy which can affect how much you can borrow.
  • Do I need a lawyer or conveyancer?

    This is a good idea when you are looking at purchasing a property to help you understand the legal aspects of buying a property.

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