Refinancing Home Loans Brisbane
Compare refinancing options for your Brisbane home loan. We help you find better rates from 40+ lenders and connect with qualified brokers. Free comparison.
Is your current home loan still the best deal? Refinancing your Brisbane home loan could save you thousands in interest or free up equity for renovations, investments, or debt consolidation. Compare options from over 40 lenders.
Why Refinance Your Home Loan?
Brisbane homeowners refinance for many reasons. Our comparison service helps you understand if refinancing makes sense for your situation.
Common Reasons to Refinance in Brisbane
- Better interest rate - Rates change constantly. You may be paying more than you need to
- Access equity - Use your home’s increased value for renovations or investments
- Consolidate debt - Roll high-interest debts into your home loan
- Change loan features - Add an offset account or redraw facility
- Switch from variable to fixed - Lock in a rate if you’re worried about increases
- Remove a guarantor - Now your property has grown in value
How Much Could You Save by Refinancing?
Even a small rate reduction makes a big difference over time. Here’s an example:
Current Loan: $500,000 at 6.5% = $3,160/month Refinanced Loan: $500,000 at 5.9% = $2,965/month
Potential Saving: $195/month = $2,340/year = $70,200 over 30 years
A qualified mortgage broker can calculate your exact potential savings based on your current loan and available options.
When Does Refinancing Make Sense?
Refinancing has costs including discharge fees, application fees, and legal costs. Generally, refinancing may make sense if:
- Your current rate is 0.5% or more above market rates
- You have at least 20% equity in your property
- You plan to keep the property for 2+ years
- You want to access equity for a specific purpose
Refinancing to Access Equity
Brisbane property values have increased significantly. If you bought your home years ago, you may have substantial equity. Accessing equity through refinancing lets you:
- Renovate or extend your Brisbane home
- Purchase an investment property
- Fund major purchases
- Consolidate high-interest debts
Lenders We Compare for Refinancing
Compare refinancing options from:
- Major Banks: Commonwealth Bank, ANZ, NAB, Westpac
- Regional Banks: Suncorp, Bank of Queensland, St.George
- Online Lenders: ING, UBank, Macquarie
- Non-Bank Lenders: Pepper Money, Liberty, Bluestone
Common Refinancing Questions
How long does refinancing take?
Typically 4-6 weeks from application to settlement.
Will I pay Lenders Mortgage Insurance (LMI)?
Not if you have 20% or more equity. If your equity is below 20%, there may be options to avoid or minimise LMI.
Can I refinance with bad credit?
Some lenders consider borrowers with credit issues. Options may be more limited, but a broker can help find solutions.
Free Refinancing Comparison
Not sure if refinancing is right for you? Use our free comparison service to explore your options, then connect with qualified Brisbane mortgage brokers for personalised advice.
This is general information only and not financial advice. Connect with a licensed mortgage broker for advice specific to your situation.