Refinance With Mortgage Broker Help
At NextCredit, we review your home loan, question offers that don’t stack up and explore better refinancing options.
Whether you’re looking to reduce repayments or access equity, we’ll help you understand what’s possible.
Worth Another Look
Are You Still Getting a Good Deal?
Don’t just take your lender’s word for it. Rates change, lenders adjust their offers and the mortgage that suited you a few years ago might no longer be competitive.
Even if you’re comfortably managing your repayments, you could be paying more than you need to. That’s money that could be going towards your savings, your family or the plans you’re making for the future.
Different Starting Points
Refinancing Situations We Can Help With
You might be ready to refinance, or simply wondering whether a change is worth exploring. Here are some of the situations we commonly help with.
1. Reducing Your Repayments
If repayments are stretching your budget, we can review your current loan and explore whether refinancing could genuinely ease the pressure.
2. Coming Off a Fixed Rate
Your lender’s next offer isn’t your only option. We can compare what’s available before your fixed rate ends and help you decide what makes sense.
3. Cash-Out Refinance
Looking to access equity in your home? We can explore refinancing options to help fund renovations or other plans, and explain what the additional borrowing would mean for you.
4. When Your Circumstances Change
If your situation has changed since you arranged your mortgage, we can review whether your home loan still suits your needs.
The Details Behind the Decision
Making Sure the Numbers Stack Up
A lower rate or smaller repayment can look appealing, but there’s more to consider. Extending your mortgage could mean paying more interest over time. Accessing equity might help fund your plans, but it also increases what you owe. And switching lenders can involve costs.
We look at whether refinancing would genuinely leave you in a better position, including the trade-offs that aren’t always obvious. We’ll explain the numbers, challenge anything that doesn’t look right and tell you if staying with your current lender makes more sense.
Important Factors
What Shapes Your Refinancing Options?
Different lenders can assess the same application quite differently. Here are some of the main factors.
Your Existing Lender: Your bank may be willing to improve its offer to keep your business. We can investigate whether it’s worth staying.
Property Value & Equity: Your home’s current value can affect the rates available and how much equity you may be able to access.
Income & Commitments: Refinancing involves a new lending assessment, even if you’re comfortably meeting your current repayments.
Fixed Rate Considerations: Breaking a fixed-rate loan early can be expensive, so the timing of a switch deserves careful consideration.
Loan Features: Offset accounts and extra repayment options can be valuable, provided the benefits justify the cost.
Your Future Plans: Planning to sell or move in a few years? We can check how easily you could pay out your new mortgage when the time comes.
The NextCredit Advantage
Refinance Without the Runaround
Refinancing can easily end up in the too-hard basket. Between the paperwork, lender requirements and the hassle of changing a mortgage you’ve had for years, it’s understandable why people put it off.
We take much of that work off your plate. From preparing your application to dealing with lenders and organising the switch, we’ll help keep things moving.
You’ll have someone you can speak to directly, who understands your circumstances and keeps you informed as things progress.
A Note From Tom
I’m Tom Raeder, founder of NextCredit and a finance broker helping homeowners across Australia.
When someone asks me to review their mortgage, I know they’re trusting me with a decision that could affect their household for years. I take that seriously. There’s no point recommending a new loan unless there’s sound reasoning behind the decision.
You’ll deal with me directly, and I’ll explain what I find in plain English. I want you to feel confident about whatever you decide, knowing your home loan has been given a proper review.
I’m an authorised credit representative (CRN 580839) of Purple Circle Financial Services Pty Ltd, Australian Credit Licence 486112, and an MFAA Accredited Broker (Member 204039). You can verify my details on ASIC’s Professional Registers or view my profile on the MFAA Find a Broker directory.
Your Next Step
Let's See What We Can Improve
You don’t need to be ready to switch lenders to get started. Tell us a little about your current mortgage and what prompted you to take another look.
We’ll investigate what’s available, identify any worthwhile opportunities and help you understand what the next steps could look like.
More Information
Frequently Asked Questions
Yes, although your options may be more limited. Some lenders will refinance loans above 80% of the property’s value, but you may need to pay lenders mortgage insurance again, even if you paid it when you first bought your home. That additional cost could outweigh the benefits of switching.
Applying for a new home loan generally involves a credit enquiry, which is recorded on your credit report and may affect your score. Making several applications in a short period can also raise concerns with lenders. It’s worth exploring suitable options before submitting formal applications.
Possibly, but missed repayments can make refinancing more difficult. Lenders will review your repayment history and current financial position before deciding whether to approve a new loan. If you’re struggling to keep up with repayments, contacting your existing lender’s financial hardship team should be an early priority.
If you’re switching lenders, you’ll generally need to arrange a new offset account if your replacement loan offers one. Any money held in your existing offset account remains yours, but you’ll need to organise its transfer and make sure the new account is correctly linked to your mortgage.
Yes, provided you have sufficient equity and meet the lender’s borrowing requirements. A cash-out refinance may allow you to access funds for renovations or other purposes without selling your home.
We can help you understand how much equity may be available and what the additional borrowing could mean for your mortgage balance and repayments.