Why some people refinance their home loan:

Lower Interest Rates

Refinancing may allow you to secure a new loan with a lower interest rate, reducing monthly repayments and potentially saving substantial amounts of money over the life of your loan.

Reduced Monthly Repayments

Refinancing to a loan with a lower interest rate and/or a longer repayment period, can result in smaller monthly payments, which can be helpful for budgeting or freeing up cash for other purposes.

Debt Consolidation

Refinancing can incorporate high-interest debts (such as credit card balances or personal loans) into your home loan, consolidating multiple payments into one. Mortgage interest rates are often lower than other forms of credit, leading to significant reductions in monthly repayments.

Cash-Out Refinance

Tap into your home’s equity through a cash-out refinance, providing a lump sum of cash that can be used for various purposes, such as home improvements, investments, larger purchases (such as swimming pool or caravan), or emergencies.

Change in Loan Type

Refinancing can allow you to switch from variable-rate loan to a fixed-rate loan; a basic variable rate to a variable rate with an offset account; a Principal & Interest loan to Interest-Only. There are various changes that can be achieved by refinancing, depending on your situation and requirements.

Things to consider

Before refinancing, it is important to carefully consider all associated costs, including discharge fees, application fees, and any prepayment penalties (e.g. if you are breaking a fixed rate contract). Understanding the total cost of refinancing is essential to ensure that the potential savings or benefits outweigh the expenses involved in the process.


Residential Loan and Refinancing Application Process

Residential Loan and Refinancing Application Process - Preliminary Calculations
Residential Loan and Refinancing Application Process - Pre-Submission
Residential Loan and Refinancing Application Process Loan Approval
Residential Loan and Refinancing Application Process - Loan Settlement




With interest rates increasing, a couple with a $550k Home Loan were looking for a way to reduce their financials commitments and find potential savings.


After careful analysis, we recommended a refinancing option that would replace their original home loan with a new loan at a lower interest rate.


The couple achieved an interest saving of $8,000 per year, providing them with increased financial flexibility and peace of mind. With the reduced financial commitment, the client could now allocate these savings towards investing in their future financial goals.

Complex Refinance


A young rural property owner had a $430k ‘farm business’ loan with high-interest rates and restrictive loan conditions. The client wanted to save money and improve his loan flexibility.


After a thorough evaluation, we proposed refinancing the existing farm business loan into a home loan with lower interest rates, extended loan term, and increased flexibility. This wasn’t without its challenges, with the refinancing of business loans into personal home loans being against bank policy. However, our expertise at navigating the bank’s assessment process and utilising key contacts helped us achieve this fantastic result.


The client achieved an interest saving of over $6,000 per year. This substantial reduction in interest expenses allowed the client to have better cash flow, enabling him to pursue other personal financial goals.


Absolutely outstanding customer service. Bertie and Kim are a phenomenal team who gave us the best experience. Their communication and follow up was fantastic which make the whole process stress free!

Jayce & Katherine Croake

Stanley Finance were extremely helpful and did their utmost to ensure my needs were met. Everything was discussed very clearly and I would definitely recommend Stanley Finance and would not hesitate to use them again in the future.

Kieren D