How can we help you refinance?
Get free help from an FND Broker at each stage of the refinancing process.
Find a lower rate
We'll compare thousands of home loans from 50+ lenders and provide you with a personalised shortlist.
Save money on interest
We will assess if loan features like a redraw facility or offset account can help you save on interest.
Tap into your home equity
Want to free up cashflow for a renovation or holiday? Find out if you can access your home equity to make it happen.
1. Compare home loan options and lenders
With our friendly broker, get easy access to your loan experts who can compare your options.
We'll answer your questions and support you through the refinance process, at no cost to you.
2. Prepare your documents and submit an application
At FND, we've simplified the refinance process to make it easier for. you to unlock greater savings.
Provide the requested documents and submit your application online with an FND broker's support.
3. Continue making repayments on your new home loan
Once approved for your new home loan, your FND broker and new lender will take care of closing your old loan.
This means you can seamlessly continue making repayments on your new loan without any hassle.
What is the refinance process with FND?
Here's how an FND broker can help you save on your home loan.
8 reasons to refinance your home loan
Refinancing might seem like a hassle, but it can be a beneficial move for your home loan
Refinancing your home loan to access equity
Achieve your property goals sooner by refinancing to access equity
Can refinancing your home loan help you save?
We explore mortgage rate movements, loyalty tax and how switching home loans could lead to refinance savings.
Refinancing for debt consolidation
We explore mortgage rate movements, loyalty tax and how switching home loans could lead to refinance savings.
Why refinance
Documents required when refinancing
Find out what documents you might need to refinance your home loan
Refinance cashback offers are ending soon
Cashback offers won’t be around for long. See if you could score $2,000 cashback when you refinance with FND.
How to refinance
Do you need a deposit to refinance?
Find out if you need a deposit to refinance your home loan, how your equity plays a role and what happens if you have equity below 20%.
Refinancing by home loan type
Different home loan types could have different rules around refinancing
Your guide to guarantor home loans
Want to own a home soon but don’t have a big enough deposit to avoid LMI? Find out if a guarantor loan could help you secure a mortgage.
Can you refinance a home loan with bad credit?
Find out what refinancing options might be available if you have a poor credit score.
Eligibility to refinance
How can I negotiate with my lender to get a better rate?
Negotiate a more competitive rate so that you can save on home loan interest and pay off your loan sooner
6 ways a broker can help with rising interest rates
Find out how an FND Broker can help you get a competitive deal on your mortgage so you aren’t overpaying in interest
Home loan refinancing process and timeline
Learn about the 5 simple refinancing steps that can save you now and in the future
Refinancing loan options and interest rates
Understanding your refinancing options and interest rates is an important part of the process
Steps to refinance
Your refinance questions, answered
1. WHAT IS A HOME LOAN REFINANCE? A home loan refinance is the process of replacing your existing home loan with a new one. This might involve switching loan types, lenders or home loan features. Refinancing can allow you to potentially save money, access equity, consolidate debt or adjust your loan terms to better suit your financial goals. An FND Broker can help you through the process and answer your questions, for free.
2. HOW DO YOU REFINANCE A HOME LOAN? While the refinancing process can vary depending on the lender, type of loan and even your financial situation, there are a few common steps that typically all refinancers must go through. These include: Understand your financial needs and goals so you can find the right home loan Research and compare lenders and home loan products Gather the necessary documents for refinancing Submit a refinance application to your chosen lender If approved, you'll receive a loan offer detailing the new loan’s terms and conditions Review the offer, sign the necessary paperwork and go through the closing process The new loan funds will be used to pay off your existing home loan and you can start making payments on your new loan Get help from your local FND Broker to navigate these steps and make the whole process easier. Remember, home loan help from us is free.
3. WHEN SHOULD YOU REFINANCE A HOME LOAN? You might want to consider refinancing your home loan if: Interest rates have dropped since you last refinanced or got your original home loan Your credit score has improved, making you eligible for better loan terms You want to change your loan type, like switching from a variable rate to fixed rate home loan You’d like to access the equity in your home to fund other purchases, such as a renovation, holiday or your next property You want to shorten or lengthen your loan term
4. HOW OFTEN YOU CAN REFINANCE YOUR HOME LOAN AND WILL IT AFFECT YOUR CREDIT SCORE? Generally, there is no set limit on how often you can refinance your home loan. While refinancing can affect your credit score, the impact will be minor and temporary. Once you start making repayments on your new loan, your credit score will improve. Keep in mind that multiple loan applications with different lenders are recorded as ‘hard enquiries’ on your credit report and can negatively impact your score. You can minimise the number of hard enquiries submitted by comparing your options before applying for a loan, rather than applying for multiple loans in a short timeframe. Get in touch with a financial advisor to find out if refinancing is the right move for you.
5. WHAT IS THE COST OF REFINANCING A HOME LOAN? The cost of refinancing a home loan can vary depending on factors like the lender, outstanding loan amount and your financial situation. Typical costs include: Application and establishment fees Discharge fees Property valuation fees Lenders Mortgage Insurance (LMI) if you have less than 20% equity in your property Break costs if you have a fixed rate home loan and choose to refinance before the end of your fixed term Before starting the refinance process, speak to an FND Broker to weigh the pros and cons and see if refinancing could save you.
6. IS REFINANCING A GOOD IDEA? Refinancing can be a good idea in certain situations. It can potentially help you save money if you’re able to secure a lower interest rate, provide access to home equity or adjust your loan terms to better fit your financial goals. Talk to an FND Broker to get a better idea of whether refinancing might be the right move for you. We can also help you weigh the costs involved to see if you’ll save in the long run.
7. HOW MUCH EQUITY DO YOU NEED TO REFINANCE? The amount of equity you need to refinance depends on the lender's requirements and the type of refinance you're pursuing. Generally, lenders prefer borrowers to have at least 20% equity in their home to qualify for a refinance without Lenders home loan Insurance (LMI).
8. CAN YOU REFINANCE A HOME LOAN WITH BAD CREDIT? Refinancing a home loan with bad credit can be challenging, but it's not impossible. If you have bad credit, you may face higher interest rates or have difficulty qualifying for certain loans. However, there are lenders who specialise in working with borrowers with less-than-perfect credit. It's important to do your research, compare offers and consider improving your credit before refinancing to increase your chances of securing a competitive home loan.
9.WHAT IS A CASH OUT REFINANCE? A cash out refinance allows you to borrow against the equity in your home to receive a lump sum of cash. You can do this by replacing your existing home loan with a new one that has a higher balance. The difference between the two loans is given to you in cash. This cash can be used for various purposes, such as home improvements, debt consolidation or other financial needs. It’s a smart move to speak to your financial adviser to see if a cash out refinance could be right for you and learn more about the costs and potential risks. You can also talk to an FND Broker to learn more about cash out refinance process.
10. WILL YOUR LOAN TERM RESET TO 30 YEARS WHEN YOU REFINANCE YOUR HOME LOAN? When you refinance your home loan, the term of the new loan can be adjusted based on your preferences and the terms offered by the lender. While it is common for homeowners to refinance to a 30-year term, it is not the only option available. You can choose a loan term that suits your needs. If you do decide to choose a shorter loan term, it’s important to consider that your repayments will likely increase (unless the reduction in the interest rate offsets that). This is because you're paying off the loan in a shorter amount of time.