Refinancing (also known as home loan switching) is the process of replacing your existing home loan with a new one, typically through a different lender or under new terms. The new mortgage pays out your current loan, and you begin making repayments on the new agreement.
This strategy allows homeowners to realign their mortgage with their current needs, financial goals, or changing market conditions.
Here are some of the most common reasons homeowners choose to refinance:
Use our refinancing calculator to see how much you could save.
At Fox Home Loans, we’ll help you compare options, simplify the process, and ensure refinancing works in your favour.
Refinancing your home loan can be a smart financial move, potentially saving you thousands over time. It typically involves replacing your existing mortgage with a new one at a lower interest rate, reducing your monthly repayments and overall interest costs.
It also gives you the chance to renegotiate your loan terms, which can be helpful if your financial situation or repayment capacity has changed.
Searching for the right home loan takes time and expertise. At Fox Home Loans, our brokers access exclusive rates and negotiate directly with our panel of 50-plus lenders to secure the best deals for you.
At Fox Home Loans, we make refinancing simple, strategic, and stress-free. Whether you’re looking to lower your rate, unlock equity, or take control of your financial future, our expert brokers will compare options across more than 50 lenders to secure the best possible deal for you.
Get in touch with our experienced mortgage team today for a confidential, no-obligation chat. We’ll do the legwork, and if the timing isn’t right, we’ll stay in touch and reach out when it is.
Don’t leave potential savings on the table. Let's discover how much you could save by refinancing your home loan.
Home loan pre-approval is a process by which a lender reviews your financial and credit history to determine how much money they would be willing to lend you for a home purchase. Pre-approval is not a guarantee that you will receive a loan, but it does provide an indication of how much you can borrow and the terms of the loan.
To obtain pre-approval, you typically need to provide the lender with information about your income, assets, and debts, as well as your credit score. The lender will use this information to assess your creditworthiness and calculate how much they are willing to lend you.
The pre-approval process typically takes a few days to a week, depending on the lender and the complexity of your financial situation. Once you receive pre-approval, you can start shopping for homes with the confidence of knowing how much you can afford to borrow.
Enquire for Pre ApprovalA first home buyer loan is a type of home loan specifically designed for individuals who are purchasing their first home. These loans typically have features that are intended to help first-time buyers enter the property market, such as lower deposit requirements, reduced or waived fees, and government incentives.
It’s important to do your research and compare the features and costs of different loans to find the one that best suits your individual needs and financial situation. Or leave it to the experts at Fox Home Loans. We’re here to help first home buyers navigate the complex road to owning their first home.
Enquire for your First Home LoanHome loan refinance is the process of replacing an existing home loan with a new loan from a different lender or with a different loan product from the same lender. The primary purpose of refinancing a home loan is usually to obtain a better interest rate or to access different loan features or benefits.
When you refinance a home loan, you essentially pay off the existing loan with a new loan, and the terms and conditions of the new loan may differ from those of the old loan. For example, you may be able to obtain a lower interest rate, switch from a variable rate to a fixed rate or vice versa, or access features such as offset accounts or redraw facilities.
Refinance your Home LoanBefore you start the process of switching home loans, it’s important to consider why you want to make the switch. Do you want to lower your interest rate, access different loan features, or consolidate debt? Understanding your reasons for switching can help you choose the right loan product and lender.
It’s important to note that switching home loans can be a complex process, and it may be helpful to seek advice from a mortgage broker like Fox Home Loans to ensure that you are making the right decision for your individual circumstances.
Switch Home LoansAn investment property loan is a type of home loan designed specifically for individuals who are looking to purchase a property for investment purposes rather than to live in themselves. These loans are typically used to purchase a property that will be rented out, with the rental income used to help repay the loan.
It’s important to carefully consider the costs and risks associated with investing in property and to do your research to find the right investment property loan for your needs. A financial advisor or mortgage broker may be able to provide guidance and advice to help you make informed decisions about your investment strategy.
Enquire for an Investment Property LoanA renovation home loan, also known as a home renovation loan or a home improvement loan, is a type of home loan that is specifically designed for borrowers who want to renovate or improve their existing home. These loans can provide funding to cover the cost of renovations or improvements, which can be a more affordable way to upgrade a home than selling and buying a new property.
If you are considering a renovation home loan, it’s important to have a clear understanding of your renovation plans and budget, and to work with a reputable lender or mortgage broker who can help you find the right loan product for your needs.
Enquire for a Renovation Loan
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Enter some basic details in our simple online form.
Discuss your refinance loan preferences and application information.
Discuss the features and benefits of your proposed refinance options.
With our technology, you can simply sign your loan documents electronically.
Your refinance transition will occur when settlement is finalised. It's that simple!
Enter some basic details in our simple online form.
Discuss your refinance loan preferences and application information.
Discuss the features and benefits of your proposed refinance options.
With our technology, you can simply sign your loan documents electronically.
Your refinance transition will occur when settlement is finalised. It's that simple!
Enter some basic details in our simple online form.
Discuss your refinance loan preferences and application information.
Discuss the features and benefits of your proposed refinance options.
With our technology, you can simply sign your loan documents electronically.
Your refinance transition will occur when settlement is finalised. It's that simple!
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The amount you can save by refinancing your home loan depends on your current interest rate, loan balance, remaining term, and the new loan’s rate and fees. Savings can come from lower interest rates, reduced fees, or cash-back offers.
At Fox Home Loans, we can review your situation and help you explore options across our panel of 50-plus lenders.
You can also use our Home Loan Refinance Calculator to see an estimate of your potential savings quickly and easily.
Refinance products are available to all clients. Sometimes commercial products can attract high fees to exit the commitment before the loan term matures. It’s worthwhile speaking to our Home Lending Specialist to weigh up your options, and what is going to be most viable.
Refinancing is available for most property loans, subject to terms and conditions. Reviewing your loan each year can show where you could save, whether through a lower interest rate, cashback offers, or a product with reduced fees.
Working closely with your mortgage broker and staying open to all options is key during the investment property refinancing process. By tailoring solutions to your profile, we ensure you have access to the most competitive products available when your loan is reviewed.
A mortgage broker like Fox Home Loans helps by acting as your advocate, comparing options from our 50-plus lenders to find the best deal for your unique situation. We will review your financial details, explain current market conditions, and manage the entire application process, saving you time and effort.
Debt consolidation is the process of rolling high-interest debts, like credit cards or personal loans, into your new home loan when you refinance. This combines multiple payments into a single, lower monthly repayment, potentially saving you money on interest and simplifying your finances.
