If you've got a young family to look after, an affordable home loan is sure to be a priority. At some point, you may find yourself thinking about refinancing. Alternatively, you may not have considered the prospect at all.

Here are three signs you're ready to refinance your mortgage.


As children get older, it's quite possible that your existing property may become cramped and you want to upgrade to a roomier property.

There are several reasons why your home might feel too small. For example, your living space might not be big enough to accommodate the entire family comfortably, your outdoor space might be too small or you might need more bedrooms for future children. 

If you've built up equity in your home, you may be able to refinance your loan to access this and purchase a more spacious property for you and your family.


Mortgage brokers can help you find the right home loan for your needs. This kind of assistance is not limited to getting a favourable interest rate – though that is certainly one part of the equation!

Refinancing your mortgage could be a great move if you want to obtain particular features that you don't currently have access to.

For instance, a line of credit could be a welcome feature, particularly if you want to complete a few minor renovations around your home.


Perhaps you've been working hard on your career and have finally landed that dream position. If you've recently gotten a promotion and are earning more money, refinancing could be a good option.

Rather than spending the extra cash, you could increase your payments slightly. This will help shorten the term of your home loan and get that much closer to complete home ownership.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.