Refinancing
Is your home loan still working for you?
We can do a home-loan ‘health check’ to see if it’s worth refinancing.
Your Finance Brokers for life
Getting you a home or investment loan is where we start, making sure you’re always in the right loan is what we continue to do.
The beauty of working with us is that our service doesn’t stop once your loan has settled. Think of us as your brokers for life; to assist you with every financial milestone and to always ensure you loans are right for you. Whether this means renegotiating a lower interest rate with your current bank, or looking to potential refinance your loans if there are better deals out there for you!
What you can expect from us as your Brokers for life
Revisiting your goals, whether it’s upgrading, downsizing, renovating, or expanding your investment properties
Conducting a full review of your loan and compare your current situation with the latest offers on the market that are available to you
Review and evaluate your interest rate with your existing lender
Offering you an updated property report, so you can understand its estimated value
If there is a better option that you qualify for, we will let you know how the change could benefit you. If you decide to make the switch to another bank, this is called a refinance.
We have access to more than 60 lenders including major banks, second tier & private lenders
So rest assured, we will find you the options that best suit your needs. Sometimes that means we renegotiate with your existing lender to give you a better (lower) rate, and other times, it means comparing options from other lenders which may be more suited.
Each lender has different application requirements, ever changing policy and risk appetites, so it pays to work with an experienced mortgage broker to find the right fit.
Alicia Papadopoulos13 September 2024Terry, Luke, and the team at Achievement were highly professional and efficient, delivering exceptional results. Their expertise instilled confidence throughout the process. I highly recommend their services.Steven Miller10 September 20245 star experience. Terry, Lucy and Luke showed a great level of care and understanding helping me along the road to securing my first property. Can’t thank the team enough, and can’t wait to come back for the next one🤞Rebecca Salsano31 August 2024Terry and the team at Achievement Finance have been wonderful to work with. They are genuine people with genuine advice. I can’t thank them enough for helping us restructure our loan and in the process reducing our interest rates! I would highly recommend their services.maryse emery30 August 2024The service and communication offered by achievement finance has been amazing. They got me the best loan that suited my financial position and got it lodged and approved very efficiently. Highly recommend!Lisa19 August 2024Terry and Luke were fantastic as my mortgage brokers. They organised everything that I wanted in the loan, were very communicative and there were no surprises when it came to signing. Cannot recommend them enough.Josh Carulli12 August 2024Terry and the team are amazing over at Achievement finance! Despite doing everything the wrong way around (put an offer on a house before getting pre-approval) Terry did everything in his power and successfully lodged and got our approval well before the due date and got all our ducks in a row so we're ready for what the future holds for us a new home owners! a BIG thank you to Terry!! They are very easy to deal with and there's no such thing as a silly question and whenever you talk with them it's like you're talking with an old friend which is very reassuring throughout a stressful process. I couldn't recommend them enough!Aussiie24 July 2024Very easy to deal with, all questions asked where answered and if not understood would be re explained, and found us a better deal after we found one we were already happy with 💪🏽 thanks terryBrandon Malpuss23 July 2024Terry at Achievement Finance is a top bloke and provided exceptional service. His professionalism and keen eye for detail not only made the mortgage process smooth and stress-free but he also reached out and saved us more money a few years down the line. I highly recommend Terry and the team for anyone in need of a top-tier mortgage broker!Lara McCoubrey10 July 2024Terry and the team have been amazing through the whole journey. It’s been a long process trying to purchase a house in this market but Terry made is so much easier having him there to lean back on and ask questions and advise at any time on each of the houses we put offers in on. He made the process very easy for us and we ended up finally getting a place in the end. Would recommend to all my family and friends. Very happylouis hager2 July 2024Great service. Terry was extremely helpful at every stage of the process. Wouldn’t hesitate to recommend.Google rating score: 5.0 of 5, based on 88 reviews
Questions?
We have answers.
Refinancing involves replacing your existing mortgage with a new one, typically to obtain better terms or lower interest rates. It works by paying off your current mortgage with the proceeds from a new loan. This new loan usually comes from a different lender.
You might consider refinancing your mortgage when interest rates have dropped since you took out your original loan, or when your financial situation has improved, enabling you to qualify for better terms. Additionally, refinancing may be beneficial if you want to change your loan term, switch from a variable to a fixed rate, or access equity for other financial goals.
As a general rule, you should review your mortgage every 18-24 months to assess whether it’s still right for you.
Refinancing offers several potential benefits, including the possibility of obtaining a lower interest rate, reducing monthly payments, changing the loan term to pay off your mortgage faster or spread payments out over a longer period, accessing equity for home improvements or other purposes, consolidating debt, or switching from a variable to a fixed-rate mortgage for stability.
Yes, refinancing can often allow you to obtain a lower interest rate, especially if market rates have decreased since you took out your original mortgage. By securing a lower rate, you may be able to reduce your monthly payments and save money over the life of the loan.
Yes, refinancing typically involves closing costs, which can include application fees, origination fees, appraisal fees, title search and insurance, and other expenses. To determine if refinancing is worth it, consider the potential savings from obtaining a lower interest rate or changing your loan term, weighed against the upfront costs of refinancing. Your mortgage broker can help you assess the financial impact.
$0. Our services come at no cost to you – This is because we are paid a commission by the bank of your choice once your loan has settled. This means you benefit from our expertise and support without an additional out-of-pocket expense.
In the (very) rare event that a fee-for-service is required, we will notify you upfront.
The refinancing process usually takes anywhere from 30 to 45 days, but this can vary depending on factors such as the complexity of your financial situation, the lender’s application processing times, and the efficiency of your documentation submission. Working with an experienced mortgage broker can help streamline the process.
Yes, refinancing allows you to switch from a variable-rate to a fixed-rate mortgage, or vice versa. This can provide stability if you’re concerned about interest rate fluctuations or if you want to take advantage of potentially lower rates with a variable-rate mortgage.
Refinancing may still be possible if you’ve had financial difficulties or missed payments in the past, but it could be more challenging. Lenders will assess your credit history, income stability, and overall financial health when considering your application. Working with a mortgage broker can help you explore options and find lenders willing to work with your specific situation.
Yes, you can refinance an investment property, but the process and requirements may differ slightly from refinancing a primary residence. Lenders may have stricter eligibility criteria and interest rates for investment property refinancing. Working with a mortgage broker experienced in investment property financing can help you navigate the process.
Refinancing can affect the remaining term of your loan depending on the new loan term you choose. For example, if you refinance into a new 30-year mortgage after having paid off 10 years of your original loan, you’ll restart the clock with a new 30-year term. However, refinancing into a shorter loan term can help you pay off your mortgage faster.
Thinking about refinancing?
We’re here to help.