Refinance Your Home Loan with Confidence
If you haven’t reviewed your home loan in over 12 months, you could be leaving thousands on the table.
At Money Bar, we help Australians refinance with clarity, confidence, and zero pushiness – so you get the right loan for today and tomorrow. Whether you’re chasing better rates, freeing up equity, or simplifying your finances, we’ll show you how to refinance your home loan with a strategy that works for you.
What Is Home Loan Refinancing and How Does It Work?
Home loan refinancing means replacing your existing mortgage with a new one, usually to save money, change structure, or unlock features. Here’s how it works:
- You speak with a broker to clarify your goals
- We compare your current loan against options from 40+ lenders
- You choose a loan that better fits your needs – lower rate, more flexibility, or better features
- We handle the application, settlement, and bank handover
- You enjoy a loan that works smarter for you
It’s not just about rate – it’s about fit. We help make that decision simple.
Refinance Rates: What You Need to Know
Refinance interest rates are typically lower than the average variable rate – especially if your current loan is more than 2 years old.
Rates vary based on:
- Loan-to-Value Ratio (LVR) — the less you owe, the better your rate
- Credit history and income
- Loan structure — variable, fixed, or split
- Repayment type — principal & interest or interest-only
- Lender policies and appetite for refinancing
At Money Bar, we compare rates across major banks, online lenders, and non-bank providers — so you don’t waste time (or money) shopping around.
Refinance Cashback Offers & Promotions
Some lenders offer cashback incentives – typically between $2,000 and $4,000 – for switching your loan to them.
It’s a great short-term sweetener, but not always the best long-term move. There are several considerations to weigh up:
- Cashback vs. ongoing rate savings
- Hidden fees or lock-in clauses
- Your refinance goals – short vs. long term
We’ll show you the real value behind every cashback offer – so you can refinance with both eyes open.
Costs of Refinancing a Home Loan
Refinancing your home loan can deliver long-term savings but it’s important to understand the short-term costs involved. The total cost of refinancing will vary based on your lender, loan type, and property details. Common refinance costs to be aware of include:
These may include:
- Discharge fees: Charged by your current lender to finalise and close out your existing mortgage. This covers admin and legal processing.
- Application or establishment fees: A one-off fee charged by your new lender when setting up your new home loan.
- Valuation fees: Your new lender may require a current valuation of your property as part of the approval process.
- Land registration fees: These government charges apply when removing your old mortgage and registering the new one.
- Lenders Mortgage Insurance (LMI): If your equity is below 20%, LMI may apply again – even if you’ve paid it before. We’ll help you assess whether the savings from refinancing still outweigh the cost.
- Ongoing loan fees: Some home loans come with monthly or annual account-keeping fees, especially package loans.
- Break costs on fixed-rate loans: If you’re refinancing during a fixed-rate period, your current lender may apply a break cost based on remaining term and interest rate movements.
- Settlement or legal fees: Some lenders charge a small legal or settlement fee to finalise the new loan documentation and funding process.
Not all of these fees apply in every situation. At Money Bar, we help you compare the total cost of switching – so you can weigh the short-term fees against the long-term benefits.
Use Our Mortgage Home Loan Calculators
Curious how much you could save? Use our calculators to compare your current loan against today’s best rates.
See:
- Your potential monthly savings
- Estimated switching costs
- Break-even timeline
It’s a quick way to explore your refinance options — and when you’re ready, we’re here to make it happen.
Should I Refinance My Home Loan?
Refinancing could make sense if:
- Your current interest rate is 0.5%+ above today’s offers
- You want to fix part of your loan or access redraw
- You’re looking to consolidate debt or release equity
Your loan features no longer suit your lifestyle or strategy
Here to help
Reach out to us effortlessly! Whether you opt for a chat, an email, or a brief form, we’re ready to establish a connection and offer the personalised assistance you require. Select your preferred contact method and initiate the discussion today.
Email: money
Phone: 0476 291 998
Address: 547 Chapel Street, South Yarra, Victoria, 3141