Most people set and forget their home loan — but lenders regularly launch sharper rates for new customers, and loyalty rarely pays. Here are seven signs it might be worth a review.
Signs it's time to refinance
- You haven't reviewed your interest rate in more than two years.
- Your fixed rate period is ending in the next few months.
- Your credit score or income has improved since you took out the loan.
- You want to consolidate credit cards or personal loans into one repayment.
- You need to access equity for a renovation, investment or other big expense.
- Your current lender's service or flexibility isn't meeting your needs.
- You've simply never compared your rate against what's available today.
What you'll typically need
- Recent payslips or two years of tax returns if self-employed
- Your current loan statement
- Details of other debts and living expenses
- Identification documents
Use our extra repayment and offset calculators to see how a lower rate could accelerate paying off your loan, then get in touch for a free loan health check.