RESTRUCTURE YOUR EXISTING
LOAN WITH BETTER TERMS
Refinance Home Loan
Many Australians struggle to afford their mortgage repayments, leaving them stressed out at the thought of paying off debt. Don’t miss out on good home loan refinance offers to help you pay less interest over time and free up cash to spend on other things.
Refinancing with Stryve Finance means securing the right loan for your circumstances.
Get a mortgage broker to restructure your existing loan with better terms
Is it time to switch loans?
We will provide you with the right advice and structure that meets your goals.
Should I refinance my house?
Refinancing is the process of taking out a new mortgage, potentially with a different bank or lender, to repay your current home loan.
Refinancing with your existing lender or with a new one could save you thousands of dollars over the term of your loan. In fact, you may be able to access between $2K-3K in cash back home loan refinance offers from some lenders who are offering this type of incentive
Currently, refinance home loan rates are increasing with the steady interest rate hike. This momentum is not likely to change soon, and the question has shifted from whether or not there will be another rate hike to how much the hike is going to be.
However, depending on the urgency of your financial goals, it is never a bad idea to look at refinancing as a means to achieving them.
Here are some things to consider when thinking about home loan refinance:
Are you happy with your interest rate? Or have you found a better rate elsewhere?
How do you feel about the current interest rate environment?
Have you had your property’s value and equity checked by a home loan mortgage broker?
What are the costs of refinancing, and will refinancing require you to pay break fees and exit costs?
Are you confident about your credit rating? A bad credit score may work against your efforts to refinance.
What are your reasons for refinancing? Common reasons to refinance is to renovate your house, buy a car, consolidate debts, shorten the loan term, have a home loan with more flexibility.
When was the last time you’ve reviewed your mortgage?
Interest rates are historically low meaning there has never been a time to review your existing loan. Refinancing could assist with saving interest, reducing fees, restructuring your existing loan, or negotiate better terms.
Refinancing with Stryve Finance means securing the right loan for your circumstances.
Key steps when refinancing
Listen and uncover your current reality
Refinancing is a great opportunity for you to recalibrate your existing loan. We try to learn as much about your current situation by asking you to clearly identify what you are looking to achieve with your loans.
Identify different options and a strategy
A strategy is important. The team will negotiate across multiple lenders and tailor the right loan for your circumstances. Let us find the best solution for you and remove the hassle by taking care of all the paperwork at no cost to you.
Manage the loan process
We will handle the entire application process by submitting your documents and liaising with all parties involved. From interest rate reviews right through to ongoing loan maintenance. You will always have a point of contact for all future lending
FAQs
Can I refinance my home loan?
You must analyse your borrowing capacity and check your credit score to see if you qualify for a new mortgage and take up a lender on their refinance home loan offer.
Why refinance home loan?
To answer this, check if your current home loan is still meeting your needs. While you may be happy with your current lender or your current mortgage structure, do they have new and better rates that you ought to know about but are not being offered to you? Are you finding it more difficult to manage your payments because of your lifestyle changes?
Refinancing is worth it as long as it fits the needs of your current situation and if you understand the fine print of your existing mortgage plan and that of your new one. This is so you can avoid incurring charges that could offset your potential savings from refinancing.
How does refinance work?
The process of refinancing involves contacting your current lender or a new lender and asking them to refinance your loan. They will then negotiate a better deal for you. Once they’ve found a suitable replacement loan, they’ll send you an offer letter which details all the terms and conditions of the new loan.
If you accept a refinance home loan offer from your current lender, they will simply proceed to changing your current mortgage rate and terms. If you accept a refinance home loan offer from a different lender, your original lender will transfer ownership of your property to the new lender. You can then begin your monthly mortgage repayments with your new lender with the rate and terms you have agreed on.
Alternatively, you can speak with a mortgage broker and get them to negotiate on your behalf with their own panel of lenders and represent you in such a way that will get you the best refinance home loan offer for your personal circumstances.
How to refinance a home loan?
Whether you want to get a home refinance loan with your current lender or switch to a different one, the best way to go about it is to talk to a mortgage broker.
Mortgage brokers have an intimate understanding of refinancing and have access to some of the best home refinance loan rates from across their panel of lenders. They will get an understanding of your borrowing capacity, find out what deposit is required, determine which home loan product would best suit your circumstances, scour for competitive interest rates, and do the bulk of research for you.
What are the costs to refinance home loan?
Although the objective of refinancing is to save money, you might end up spending more if you do not understand the monetary implications of switching loans like break fees and other charges.
To avoid this, best to talk to your mortgage broker so they can manage the transfer process and get rid of these inconveniences.
When can you refinance a home loan?
The first thing you need to do to determine if it is time to refinance is to review your current home loan and compare its rate to the ones currently in the market.
A home loan health check done by a trusted mortgage broker would help you narrow down your questions and clear up any confusion around your home equity and available finance options.
How much equity do I need to refinance?
Rule of thumb says you need 20% to refinance with a conventional mortgage to avoid paying Lenders Mortgage Insurance (LMI) or to do a cash-out refinance.
How long does it take to refinance a home loan?
Before moving ahead, review your current home loan, analyse its disadvantages, and check the market for better deals. This process could take a few weeks, but mortgage brokers can expedite the process.
How do I get the best home loan refinance offer?
We couldn’t recommend this enough — talk to a mortgage broker Australia to explore your options, get access to a wide panel of lenders, and leverage their connections to possibly get preferential treatment and special discounts.
See what our clients have to say about us
“I have dealt with a few banks and brokers during the course of a couple of mortgages. The experience I had with Dylan trumps all former experiences. He offers choice and guides you through the process. He takes away the headache and stress associated with mortgages and constantly keeps you updated. Dylan takes best customer practices to a whole new level and I seriously cannot thank him enough. If you're thinking about a mortgage or refinance - Dylan's your man - simple!``
Donna,
NSW“I could not fault Dylan throughout the entire experience working with him. Both husband and I are very new to the world of refinancing and home loans, etc and Dylan was so incredibly patient and clear with all information and options. He was incredibly professional, responsive and friendly and made the entire experience so easy. I will definitely be working with Dylan again in the future. Highly recommend working with Dylan to get you the best deal as painlessly as possible!``
Jordan,
ACT“Dylan was absolutely fantastic to work with, made our remortgage and investment property loan run seamlessly. Always contactable even during January holidays and Covid. Always gives 100% and attention to detail early on made the process less stressful and gave us confidence.``
Kristy,
NSW“Being a first home buyer can be a nerve-racking minefield but Dylan Bertovic from Stryve Finance made the whole process feel smooth. He checked-in regularly over a two year period (off the plan purchase) and was confident, clear and friendly in his approach. Dylan was a clear leader when other brokers failed to deliver. He was most definitely the most pleasurable person to deal with compared to everyone else in the experience. Also still managed to get us a very competitive rate considering our extremely tricky situation. He made our dream happen and for that we could not thank or recommend him enough!``
