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Why refinance?

We are currently seeing some of the most competitive interest rates and refinance incentives on offer across a range of lenders. In the digital world refinancing your home loan is not the painful process that it used to be…. Especially if you have a lending expert doing all the work for you!

The broker does all the work, The bank pays the bill and you save the money !
Some banks are paying up to $4000 for your home loan business. You can have a lower interest rate and have $4000 deposited into your account while the broker does all the work for you.

What is the true cost or refinancing?

We consider all the exit cost as well as the discharge fees before you make your final decision. You will need to provide your broker the payout figure so they can calculate your total savings accurately.
Consolidating debt such as credit cards, personal loans and even tax debts is possible.

Make sure you are in a position to refinance! Ask your broker to see if you are locked into anything before you make an expensive error.

Why choose Lendable for refinancing?

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Lock in a Lower Rate and Repayment

The most common reason people look to refinance is because they want to save money wherever they can and ‘beat the banks’. If you are finding that your interest rate doesn’t seem to be the best of offer or you have seen/heard someone advertising something better, its definitely a good time to chat to Lendable and have a specialist broker see what can be done to save you some of that hard earned money because its better in your pocket and not the Bank’s!

As another option you can always look into fixing your interest rate, that way your rate wont change over the fixed period and will give you peace of mind knowing that it wont go up over the fixed period either.

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One of the important factors when it comes to refinancing your home loan is to take into consideration the features and benefits of your current mortgage and if they apply to your situation now. For example, you may want to have the ability to pay as much as you want extra into the mortgage and if a rainy day comes along be able to take out of that mortgage without being charged any fee’s or charges.

Another example may be you want to have a fixed rate and repayment but be able to make some additional payments and not be penalised for it or even have an offset attached to a fixed rate mortgage.

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Releasing Equity

Another great reason people look to refinance is to release equity they have been building up over the years.

For example you have a starting mortgage balance of $400,000 and your property is worth $500,000 fast forward to now and you only owe $315,000 and your property has increased to being worth $540,000 you may be eligible to release up to $117,000 to spend on other things like renovation’s, that pool you have always wanted or even to use as deposit on an investment property.

Refinancing FAQs & Resources:

  • Can I refinance my loan if it is fixed?

    • Yes you can……. BUT you will be charged break costs from the bank to do so. Make sure you look into this before you look into refinancing. The costs may far outweigh the benefits.

  • Can the bank charge me if I leave?

    • NO it is illegal for banks to charge you break costs. They can only charge you if you have a fixed term loan that you have entered into.

  • Is the lowest rate always the best option?

    • NO. Low interest rates are great but you need to look into all the costs associated with a loan. Does the low rate come with high bank fees or limited flexibility on the product? Look at what your goals and objectives are and select the product that suits you accordingly.

  • Loan terms?

    • Be aware that if you keep refinancing your home loan over 30 years you are not actually repaying the loan any quicker ! you are just lowering the payments. I.e. if you refinance you loan with 25 years remaining over 30 years are you actually better off or are you 5 years further back than you were?

  • If I paid mortgage insurance on my initial loan will I need to pay it again if I refinance?

    • If your new loan is still in mortgage insurance range yes you will need to pay LMI again. Your premium is attached to your specific loan and not transferable.

Happy Lendees

Incredibly friendly

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I want to personally thank you for all your help I wouldn’t have managed it without you. From our first meeting you made me feel comfortable working with you and your organization, at all times I felt I could trust you and you had my best interests at heart. Thanks for everything


Over the moon

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I’m emailing to let you know we received our keys today, and just wanted to say how grateful Monique and I are for all your help/advice you have given us. We can’t even describe how happy we are with the end result


Tireless efforts

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We can not thank you enough for your tireless efforts in helping to get this over the line and settled. What you did for us yesterday amazes us and we are so grateful.


Borrow sooner. Buy smarter. Build better.

Lendable puts first home buyers in control of the situation. We’ll work with whatever your financial situation is get a better deal from your lender.