Refinance home loan

Refinancing, or switching home loans, can save you money.

It can also free up cash for renovations, investment property and other purchases. A Smartline Adviser can help you work out if it’s the best option for you and, if so, arrange the home loan that’s right for you.

• Why refinance?

  Home loan refinancing can mean securing a loan that better suits your needs today. First, it's important to consider your goals and reasons.

• Secure a competitive interest rate

  Refinancing to a home loan that offers a lower interest rate can reduce your monthly repayments. You'll need to weigh up any costs involved for switching loans.

• Move between variable and fixed rates

  With a fixed rate, you know what you're up for over a period of time. However, when interest rates are low, you may want to take advantage of a variable rate and accept the risk that rates can rise in the future.

• Access equity in your home

  Equity is the difference between the market value of your home and the amount you still owe on your loan. With some loans you can access this money to grow your wealth, buy investments or use for personal goals.

• Consolidate your debt

  Home loan interest rates are usually much lower than interest you'd pay on credit cards, car loans and personal loans. Bringing them together in one lower interest rate loan might save you on payments, fees and time spent juggling and managing your debt.

• Refinancing costs

  As with any new loan, there are costs involved in changing loans. It's important to weigh up what you'll need to pay out against all the benefits of refinancing your home loan.