Book a free assessment
Awesome Image
Awesome Image
WHY REFINANCE

Maximize Savings with the Right Loan

  • 1. Lower Your Rates

    Reduce your monthly payments by securing a lower interest rate.

  • 2. Earlier Payoff

    Pay off your mortgage earlier with a shorter loan term.

  • 3. Debt Simplification

    Streamline finances by consolidating high-interest debts.

  • 4. Unlock Equity

    Tap into your home’s equity for renovations or investments.

Switch & Save Today

Discover how much you can save by refinancing. Check your loan options and secure an affordable rate.

Mortgage Switching Calculator
Awesome Image
Awesome Image
WHAT YOU NEED

Equity Requirements for Refinancing

Understand the equity needed to secure more affordable interest rates and avoid Lenders' Mortgage Insurance (LMI).

Optimal Equity Level

Achieve over 20% equity to refinance without paying LMI.

Higher Borrowing Options

Borrow up to 95% of property value with LMI.

KEY POINTS TO COVER

What to expect when refinancing your loan.

Reason for refinance

Cost for refinance

Assess your LVR

Prepare your application

Discuss your needs

Prepare valuation

Disclosure documents

Get conditional approval

Obtain approval

Complete refinance

After care service

Why Choose US

Your Trusted Refinancing Partner

At Everrich Finance, we make refinancing easier by securing competitive rates, streamlining applications, and ensuring long-term financial benefits tailored to your needs.

Book a free assessment

Access to Affordable Rates

With access to over 30 lenders, we secure exclusive discounts, cashback offers, and preferential interest rates to maximize your savings.

Pre-Assessment of Application

We review and package your application to identify potential issues, protecting your credit score and improving approval chances.

Save You Time

Our strong lender relationships help expedite approvals, reducing delays and making the refinancing process transparent and well coordinated.

Product Insights

Our experienced professionals compare lender products, explaining their pros and cons, so you can make informed decisions with confidence.

We compare loans from a wide range of lenders

logo-22
logo-21
logo-18
logo-3
logo-9
logo-23
macquarie-bank-logo
logo-4
logo-5
CHL-logo
logo-13
logo-6
logo-2
salt-and-lime-logo
thorn-money-logo
finance-one-logo
homestart-logo
ICG-logo
moneyme-autopay-logo
moneytech-logo
bank of china logo
ubank-logo
me-bank-logo
TMB-logo
HPB-logo
unibank-logo
FMB-logo
pn-bank-logo
virgin-bank-logo
logo-1
firstmac-logo
auswide-bank-logo
gateway-bank-logo
heritage-bank-logo
peoples-choice-logo
imb-bank-logo
mystate-bank-logo
bfs-logo
connective-logo
deposit-power-logo
CORE ESSENTIALS

Smarter Home Loan Refinancing Solutions

What is refinancing?

We refinance your loan by getting you a new loan to repay your existing home loan. You can do this with your current bank or a different one. We look at your current home loan and compare rates, fees and cash back that you are eligible for.

Why use Everrich Finance for refinancing your home loan?

Access to budget-friendly interest rates
Our experienced team of advisors have access to over 30 lenders giving you the exclusive access to rebates, tailored solutions and preferential rates.
Save you time
With experienced advisors at Everrich Finance we help you save time and effort because of the relationship that we hold with the bank. We get access to well-coordinated assessments and senior credit managers giving you access to expedited outcomes.
Pre assessment of application
To avoid your application being declined we review your application to identify anything that could go wrong. We pre-package your application and check your scenario with the bank before lodging the application. This allows us to protect your credit score and allows us to strengthen your chances of approval.
Product insights
Our team of experienced advisors have access to over 30 lenders and know exactly what products these lenders have. We will explain the pros and cons of each product and lender giving you the right information to make an informed decision.
Aftercare service
Our advisors monitor your rates and continuously negotiate your rates with the existing lender. If you have any questions or want to discuss any questions around your loan, our team is always available to assist.
Ready to apply but don’t know how? Please contact us on (03) 9034 5223 or enquire online and our team can walk you through the process.

Applying for Refinancing: The Process

We generally recommend that homeowners refinance their loans every 3 to 4 years to ensure that they are getting the most suitable deal. Banks generally give acquisition rates and cash back to lure their clients in. They will gradually increase the rates on the existing clients and over time the spread in the rates make sense to refinance to another bank.

What to expect when refinancing your loan

  • Reason for refinance: We help you understand why you want to refinance, whether it is for a more affordable interest rate, lower payments, or accessing equity.
  • Cost for refinance: We consider fees like discharge fees, application fees, and valuation fees. By comparing the costs versus potential savings we will help you understand if refinancing is beneficial to you.
  • Assess your loan to value ratio: We calculate your loan to value ratio and equity in your property by subtracting your mortgage balance from your property value.
  • Prepare your application: With the aid of technology, we help you gather necessary documents like home loan statements, income proofs and identification documents.
  • Discuss your needs with our brokers: Our team of experienced advisors will take time to understand your needs including product features, competitive rate options and cash back available.
  • Prepare valuation: Your lender will arrange valuation on your property that we are refinancing.
  • Disclosure documents: We will summarize our recommendations, providing you a summary of the lender we are applying for.
  • Get conditional approval: Once we have all the documents returned and authority for us to proceed our broker will work with you to submit a conditional approval on your behalf.
  • Obtain approval: We will work with the lender to answer any queries that the bank might have to arrange an approval for you.
  • Complete refinance: Our brokers will explain the terms and condition of the loan and walk you through the loan documents. Normally the outgoing bank will need to be notified so our team will complete the discharge form and handle the process to book in settlement and refinance your loans.
  • After care service: Once your loan is refinanced, our advisor will touch base with you to make sure your loan repayments are set up correctly, offset accounts are linked to the account and that you are still at the most affordable interest rate.

Should I refinance my home loan?

Some of the reason that our clients consider when looking to refinance include:
  • Get a lower rate and reduce their monthly repayments.
  • Access equity to buy an investment property, invest in shares, managed funds, ETF, renovate, build etc.
  • Consolidate your unsecured loans like credit cards, personal loans and car loans into 1 easy to repay facility on a much more affordable rate.
  • Refinance from a non conforming lender to a major lender after you rectify your credit issues.
  • Have additional funds available to take advantage of tax benefits.
  • Refinance to a home loan product that helps you repay your home loan sooner.
  • Refinance to grow your business by having more funds available to grow your business and reducing monthly minimum repayment.
Speak to us today on (03) 9034 5223 or enquire online.

How much equity is needed to refinance?

To get budget-friendly interest rates and avoid lenders’ mortgage insurance in most situations we only recommend that you refinance your loan if you have more than 20% equity in your home. Some lenders will allow you to borrow up to 95% of the property value but you would have to pay Lenders Mortgage Insurance (LMI).
Common examples of client that we assist with refinancing include:
  • Refinancing your loan when your loan to value ratio is under 80%. Ideally, this is to get you a more favourable interest rate and avoid lenders mortgage insurance.
  • You are currently on a variable rate loan and looking for a more affordable rate, terms and lower fees. We generally avoid refinancing your loan if you are on a fixed rate to avoid break fees.
  • Once the credit default is lifted and ability to repay is demonstrated over 6 months, we would generally recommend refinancing non-conforming loans by moving from non-bank lenders to a major lender
  • If you had a low doc mortgage and your tax returns are now completed, we can refinance you from low doc to a full doc loan to get you a more affordable interest rate.
Speak to us today on (03) 9034 5223 or enquire online

What to consider before I refinance?

Before considering to refinance:
  • You should consider the real cost of refinance like discharge fees, registration of mortgage fees, registering of mortgage fees, set up fees, valuation fees, and ongoing fees.
  • Research different products and compare repayments, rates, fees and set up fees. At Everrich Finance we can assist you with the product comparison.
  • At Everrich Finance we can evaluate your financial situation including your credit score, current income versus expense to work out your debt to income ratio and loan to value ratio to ensure that you qualify for the refinance before submitting your application.
  • Be clear on why you are refinancing. Some clients are looking for lower rates, lower repayments, offset features on their loans or access to equity in their property for investment or renovation.
  • Whatever the purpose of the refinance is, we need to consider what your future plans are and think about how this will affect your long-term financial goals.
REFINANCING HOME LOAN FAQ

Refinancing Home Loans: Your Questions Answered

  • 1. What are the costs involved in refinancing?

    General refinance fees include discharge fees, break fees, application fees, valuation fees and title search fees. Normally to refinance your loans it will cost between $800 and $1,600.

  • 2. How do I know how much I can save by refinancing my home loan?

    The amount saved will depend on current rates versus the new rates you receive minus any refinancing cost. For a detailed breakdown on savings that you are entitled to please contact us on (03) 9034 5223 or enquire online and our team can walk you through the process.

  • 3. How can Everrich Finance help me get affordable refinancing rates?

    Our experienced advisors have access to over 30 lenders, allowing us to secure preferential rates, exclusive rebates, and tailored loan solutions. We leverage our strong relationships with banks to negotiate the best possible terms for your refinancing needs.

  • 4. How does Everrich Finance ensure my refinancing application gets approved?

    We conduct a thorough pre-assessment of your application to identify potential issues before submission. By pre-packaging your application and consulting with banks in advance, we protect your credit score and improve your chances of approval.

Testimonials

Love from Clients

Murray helped us through purchasing our first home and the subsequent refinancing. Couldn’t recommend him and his team more highly!

Mark Bolitho
Refinancing Home Loan

Murray helped us refinance and get a new home loan and walk us through a very stressful period providing key advice at the right time and raising concerns early so that we…

C H
Refinancing Home Loan

Murray has been great in providing a guided and informative experience throughout the entire process of refinancing my home loan. He is always quick to respond and has been extremely proactive in…

Raymond
Refinancing Home Loan

Murray helped us through purchasing our first home and the subsequent refinancing. Couldn’t recommend him and his team more highly!

Mark Bolitho
Refinancing Home Loan

Excellent costumer service. I can not thank Murray enough who work tirelessly through my refinance process. Always response in a timely passion, great advise and gives his client the best…

Michael Dejaresco
Refinancing Home Loan

James and the team at Everrich are fantastic to deal with, helping to make the process of refinancing easy and smooth end to end. Great service - highly recommended 👌

Ryan
Refinancing Home Loan

Find Out Your Eligibility Today

Unsure if you qualify? Let us assess your situation and explore the home loan options available to you for your own home or your investment property.

Book a free assessment