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What’s the process to refinance your home loan?

Whether you’re thinking about refinancing or you’re ready to get started, we’re here to help. Here’s how the process works.


Step 1. Start by working out your exit costs

It’s a good idea to work out up front what it’s going to cost to exit your current loan . You can get an idea of the fees your lender will charge you by taking a look at the terms and conditions for your current home loan.

The good news is even if there are exit fees, with the right refinancing options you could still be making significant savings in the long run.


Step 2. Talk to us about finding the right loan for you

Make a time that suits you to come and talk to us about your home loan needs – you can either see us in branch, call our call centre or one of our mobile home loan experts can come to you.

You may already have an idea of what you’re after – perhaps a lower interest rate or you’re interested in switching to a fixed rate; maybe you want a loan with additional features such as a linked offset account. Or perhaps you’re not sure what you’re looking for and need some expert direction. Either way, we’re here to help.

Taking your needs into account, our home loan experts can present you with different options that’ll show you how with the right home loan you could potentially save money, cut years off your loan term and build equity in your home faster.

Step 3. Found the right loan? It’s time to apply

Once you’ve selected the right home loan, we can help you with the application process. Although the thought of applying for a new loan can seem daunting, we’re here to help guide you through the process.

There’s likely to be some documentation you’ll need to supply along with your application (think recent payslips and bank statements) – we’ll let you know in advance what you’ll need to include.


Step 4. Taking care of the paperwork– documentation, valuation and approval

Once we’ve received your application and any necessary documentation we’ll start to process it. There are a few things we’ll need to do. First up, as responsible lenders we’ll make sure your application meets our lending criteria. If this stacks up, we’ll verify your documents and arrange a valuation for your home.

Once we’re done we’ll be in touch to let you know the outcome. If your refinance has been approved, we’ll issue you with a letter of offer. You’ll need to sign this and get it back to us – the sooner the better as once we’ve received it we’ll be able to start the settlement process.


Step 5. Settlement

Just like when you first bought your home, settlement is the day when your existing mortgage is paid out. Don’t worry – we’ll take care of the hard yards. We’ll arrange to meet with your old lender, payout your old mortgage, arrange for titles to be exchanged and register a mortgage over your property.

Once this is done – it’s congratulations! You’ve successfully refinanced and can begin to enjoy the benefits.


How long does settlement take?

Settlement generally takes a few weeks. However, if your loan qualifies for FastRefi, it can be wrapped up much quicker, sometimes even as short as two to five days! FastRefi is a process that enables a refinance to take place with no attended settlement – this means a refinance can occur within days, not weeks when compared to the standard refinance process.


Any recommendation made in this article does not take your objectives, financial situation or needs into account. Read the terms and conditions at before making a decision and consider if the product is right for you.

Important information

Any recommendation made in this article does not take your objectives, financial situation or needs into account. Read the terms and conditions before making a decision if the product is right for you.