Jose Poly
Director & Mortgage Broker
- First home buyers
- Refinancing
- Investment lending
Refinancing
Is your home loan still earning its keep?
The loan that suited you at settlement can quietly drift out of shape — rates move, fixed terms end, and lenders save their sharpest pricing for new customers. Refinancing is simply making your loan compete again. We run the numbers honestly, including the switching costs, and only recommend a move when you genuinely come out ahead.
Who this is for
- Owners who haven't reviewed their rate in two or more years
- Borrowers coming off a fixed term and facing the revert rate
- Homeowners wanting to access equity for renovations or investment
- Anyone whose circumstances have changed since they took out their loan
The usual sticking points
Loyalty is rarely rewarded
Lenders commonly offer new customers lower rates than existing ones — the so-called loyalty tax. Unless someone checks, you won't know what you're leaving on the table.
Switching costs muddy the maths
Discharge fees, government fees, possible break costs on fixed loans, and new-lender fees all eat into the savings. A lower rate isn't automatically a better deal.
Refinancing means requalifying
You'll be assessed as a new borrower — income, expenses and equity. If your situation has changed, lender choice matters more than rate.
How Influx helps
What we actually do about it
A real comparison, not a rate headline
We model your current loan against alternatives including every switching cost, and show the break-even point in months — so the decision is arithmetic, not marketing.
We negotiate with your current lender too
Sometimes the best move is staying put on a repriced rate. We routinely ask your existing lender to sharpen up first, which can save you the hassle of switching at all.
Structure while you're at it
Refinancing is the natural moment to fix, split, add an offset, or consolidate debts. We make sure the new structure fits your next few years, not just today's rate.
Step by step
How the process runs
You'll know what's happening at every stage — this is the map.
- 1
Loan health check
A quick review of your current rate, structure and fees against the market.
- 2
Savings analysis
We calculate genuine savings after all switching costs, with a break-even timeline.
- 3
Reprice or refinance
We push your current lender for a better deal and compare it with alternatives.
- 4
Application & discharge
If switching wins, we manage the new application and the old loan's discharge.
- 5
Ongoing reviews
We diarise regular reviews so your loan doesn't drift again.
Worth knowing
Key considerations before you start
- Break costs on fixed loans can be significant and change daily with market rates.
- Extending your loan term back to 30 years can lower repayments but increase total interest.
- Cashback offers can be genuine value or a distraction — the long-term rate matters more.
- Accessing equity increases your loan and repayments; it needs a purpose and a plan.
The information on this page is general in nature and does not take your personal objectives, financial situation or needs into account. Consider whether the information is appropriate for your circumstances and seek advice before acting on it. Lending criteria, fees and charges apply to all loan products.
FAQs
Refinancing questions, answered
How much does it cost to refinance?
Commonly a few hundred dollars in discharge and government fees, plus any application or valuation fees with the new lender. Fixed-rate break costs can add substantially more. We itemise every cost in our comparison so there are no surprises.
How long does refinancing take?
Typically two to six weeks end to end, depending on the lenders involved. Some lenders offer fast-track digital refinances for straightforward cases.
Can I refinance to renovate?
Yes — if you have enough equity, you can increase your loan to fund renovations. For larger structural projects, a construction loan may suit better; we help you choose between the two.
Will refinancing hurt my credit score?
A refinance application adds a credit enquiry, like any loan application. One well-targeted application arranged through a broker has far less impact than applying to several lenders yourself.
Your specialist
Who you'll be working with
Related services
Also worth a look
Debt Consolidation
Roll credit cards, car loans and personal debts into one manageable repayment.
Learn moreInvestment Loans
Finance for property investors — loan structuring, equity access and lender comparison, with tax considerations handled alongside.
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Melbourne mortgage brokers comparing home loans from a wide lender panel.
Learn moreHelpful reading
Refinancing
What does refinancing actually cost? The full list
Discharge fees, break costs, government charges and the loyalty-tax maths — every cost of switching home loans, and how to work out your break-even point.
Read article → Loan basics
Offset accounts explained: how they work and when they beat redraw
An offset account can quietly save years of interest — if you use it right. How offsets work, offset vs redraw, and who benefits most.
Read article → Loan basics
Fixed vs variable home loans: how to actually choose
Fixed, variable or split? The right answer depends on your plans, not on predicting interest rates. A plain-English guide to the trade-offs.
Read article →Get a free loan health check
Send us your current rate and balance and we'll tell you honestly whether refinancing stacks up — including all the costs.
Or send an enquiry and we'll call you back.