Refinance Mortgage Broker

Free expert help to refinance your home loan – we compare 50+ lenders to lower your rate, access equity, or consolidate debt.

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Refinance Mortgage Broker – How We Help

A home loan refinance broker takes the heavy lifting out of switching your mortgage. Instead of approaching lenders one by one, working out which products suit your situation, and managing the paperwork yourself, you get a broker who compares options across a 50+ lender panel, handles the full application, and manages the switch through to settlement. Under ASIC’s best interests duty, they’re legally required to act in your interests, not the lender’s.

The service is free to you. Lenders pay brokers upfront and trail commissions when your loan settles, and any commissions must be disclosed before you proceed. If your current lender has refused a better rate or another bank has said no, a mortgage refinance broker is often where the conversation gets more useful, as lender credit policies vary considerably, and the right broker already knows where to look.

Talk to a specialist refinance mortgage broker for free, 7 days a week.

Why Refinance Your Home Loan?

The average variable rate in Australia was 6.92% as at July 2026, while competitive non-bank rates for refinancers start from 5.69%. On an average Australian loan of $734,881, that gap translates to over $800 per month. But rate savings are only one reason homeowners refinance. Here’s the full picture:

Lower your rate and reduce repayments: If your loan hasn’t been reviewed in the past 12 to 24 months, there’s a reasonable chance you’re on a rate that no longer reflects what’s available. Lenders consistently offer sharper rates to new customers than they retain for existing ones.
Access equity: If your property has grown in value, refinancing can release equity for renovations, to fund a deposit on an investment property, or for other purposes. Your mortgage refinance broker assesses your current LVR and identifies how much equity is accessible.
Switch loan features: Moving from a basic variable to a loan with an offset account, redraw facility, or split structure can reduce interest costs without changing lenders entirely.
Fix vs variable: If your fixed rate term is ending and you’re rolling onto a standard variable rate, that’s one of the best times to review your options. A home loan refinance broker compares both fixed and variable options across lenders before your fixed period expires.
Consolidate debt: Rolling higher-interest debt, such as credit cards or personal loans, into your home loan can significantly reduce monthly outgoings, though it comes with an important caveat covered below.

When is Refinancing Worth It?

The right time to refinance depends on your rate, your equity position, and the full cost of switching.

The starting question is how your current rate sits against the market. If you’re more than 0.40% above competitive lender pricing, refinancing typically pays off once switching costs are factored in. On a $600,000 loan, even a 0.20% rate reduction saves meaningful money over time.

Your equity position matters too. If your LVR is above 80%, refinancing may trigger Lenders Mortgage Insurance on the new loan, which affects the break-even calculation. A refinance home loan broker models this clearly before recommending a switch.

The break-even point is how long it takes for rate savings to outweigh switching costs. On a typical refinance, this is often 12 to 24 months. If you’re planning to sell within that window, refinancing may not make financial sense. If you’re staying for the medium to long term, the numbers usually stack up.

Use Selectabroker’s borrowing power calculator and repayment calculator to run your own numbers before your first conversation.

What Does Refinancing Cost?

Discharge the fee from your current lender. Typically $150–$400, charged when the existing loan is closed and the security is released.
Application and valuation fees at the new lender. These vary by lender, with some waiving application fees to attract refinancers. An upfront valuation is typically required to confirm the property’s current value before the loan is approved.
LMI. If your refinance takes your LVR above 80% (for example, if you’re accessing equity), Lenders Mortgage Insurance may apply on the new loan. This can range from a few thousand to tens of thousands, depending on the loan size and LVR.
Break costs on fixed loans. If your current loan is on a fixed rate and you exit before the term ends, break costs can be high, sometimes equivalent to months of interest. A home loan refinance broker calculates this before making any recommendation.

If you’re considering debt consolidation, keep in mind that rolling personal debt into your home loan can reduce monthly repayments considerably, but it extends the term over which that debt is repaid and typically increases total interest paid over the life of the loan. A mortgage refinance broker models both the short-term and long-term picture before recommending this approach.

How a Refinance Broker Saves You Time and Money

A refinance home loan broker does more than compare rates. Here’s what the process actually looks like:

Panel comparison: Rather than approaching lenders individually and leaving a trail of credit enquiries, a broker compares options across 50+ lenders in a single process, including non-bank lenders and specialist lenders that aren’t accessible through rate comparison websites.
Financial health assessment: Before recommending anything, a broker reviews your credit position, current LVR, and loan features to determine what’s actually achievable and which lenders are most likely to approve your application at a competitive rate.
Negotiation: A broker can approach your existing lender on your behalf before recommending a switch. Sometimes a rate reduction or feature upgrade from your current lender is the more efficient outcome, and a broker knows how to have that conversation.
Paperwork and application management: Refinancing involves discharge paperwork with your current lender, a new application with the incoming lender, and property valuation coordination. A broker manages all of it, including helping you gather the right documents and ensuring the application is complete before anything is submitted.
Managing the switch to settlement: The discharge and new loan settlement need to be coordinated so there’s no gap in your finances. A broker handles this across all parties, so you’re not chasing lenders, valuers, and conveyancers simultaneously.
Ongoing support: Once your loan is settled, a good broker monitors the market and flags when your rate may no longer be competitive, so you’re not back in the same position in two years.

Refinance Loan Options We Compare

A mortgage refinance broker through Selectabroker can compare options across a wide range of loan types and structures. Here’s what’s available:

Rate structures: Variable rate, fixed rate (1–5 year terms), split loans (part fixed, part variable)
Repayment types: Principal and interest, interest-only (typically for investors)
Features: Offset accounts, redraw facilities, extra repayments, portability
Specialist products: Low doc loans for self-employed borrowers, line of credit, home equity loans, guarantor arrangements
Purpose: Rate reduction, equity release, debt consolidation, bridging loans during property transitions

Refinancing for Your Situation

Refinancing looks different depending on why you’re doing it and what your financial position looks like.

Self-Employed and Low Doc Borrowers

Standard refinancing documentation (payslips, tax returns) doesn’t always reflect self-employed income accurately. Low doc loans exist for borrowers who can verify income through alternative means (BAS statements, accountant’s letters, or bank statements), typically at higher deposit requirements. A home loan refinance broker identifies which lenders are most workable for your income structure.

Property Investors

Refinancing an investment loan to access equity, restructure for tax purposes, or secure a more competitive rate involves different lender policies from owner-occupier refinancing. A broker experienced with investment property loans compares investor-specific products across the panel.

Debt Consolidation

Combining higher-interest debt into a home loan is a common refinancing goal, particularly as credit card rates (typically 18–22%) and personal loan rates (10–15%) sit well above home loan rates. A mortgage refinance broker models the full cost, including term extension, before recommending this approach.

Equity Release

If your property has grown in value, refinancing to access that equity for renovations, investments, or other purposes requires a refinance home loan broker who understands how different lenders assess accessible equity and LVR limits.

Bridging Situations

If you’re selling one property and buying another with overlapping settlements, bridging finance may be relevant alongside or instead of refinancing. A broker assesses which approach suits the timing.

Refinance Mortgage Brokers Across Australia

Selectabroker is a Victorian-based broker-matching service helping homeowners refinance across Australia, entirely by phone and online, with no office visit required at any stage. A matched mortgage refinance broker compares options from a lender panel that includes majors, non-banks, and specialist lenders suited to your specific situation and location.

Our matched brokers service borrowers across Victoria, New South Wales, South Australia, Western Australia, and Queensland. Regional refinancing conversations are welcome, whether you’re in a capital city or a regional town; the process is the same.

If you’re in a specific region, our location pages cover the local property and refinancing context in detail:

How It Works

Tell us your situation: Current lender, approximate loan balance, how long you’ve had the loan, and what you’re trying to achieve, whether that’s a lower rate, equity access, debt consolidation, or a feature change. No paperwork, no commitment.
We review your loan and equity position: Your income, current LVR, credit position, and loan features all shape which lenders and products are suitable. This is where we identify whether switching makes sense once switching costs are factored in.
Your broker compares the panel: Options from 50+ lenders are assessed against your situation, covering rate, features, fees, and lender appetite for your income type and property.
We manage the switch to settlement: Discharge coordination with your existing lender, new application lodgement, valuation management, and lender communication, all handled by your home loan refinance broker through to settlement day.

Connect with a specialist refinance broker today. Free, available 7 days by phone or online, Australia-wide. If your bank has said no or won’t budge on the rate, start a conversation here.

Just a few of our happy customers

Trusted by 1000's of Australians

When we found you guys we thought we had no hope. 3 Banks said no, and you were able find the right home for us. How you guys work for free amazes us

David & Clare

Castlemaine, Vic

The extensive documentation required seemed daunting, but Select a Mortgage Broker helped me organise everything efficiently. The process was smooth and stress-free

Mia

Surry Hills, NSW

Being self-employed, I was concerned about proving stable income, but Select a Mortgage Broker worked with me to find the best loan option. Their dedication finding me the right loan was exceptional! Highly recommend.

Jimmy K.

Busselton, WA

Refinance Mortgage Broker FAQs

Is using a refinance broker free?

Yes, for you. Lenders pay brokers an upfront and trail commission when your loan settles. You pay nothing directly. All commissions must be disclosed before you proceed, and any direct broker fees must be confirmed in writing upfront.

How much could I save by refinancing?

It depends on your current rate, loan size, and what’s available. On average, an Australian loan the gap between the average variable rate (6.92%) and the lowest available rate could save over $800 per month. On a $500,000 loan, a 0.50% rate difference saves over $58,000 over 30 years. A home loan refinance broker calculates your specific savings before recommending any switch.

What does refinancing cost?

Typical costs include a discharge fee from your current lender ($150–$400), application and valuation fees at the new lender (varies by lender, sometimes waived), possible LMI if your LVR is above 80%, and break costs if you’re exiting a fixed rate early. A mortgage refinance broker runs the full cost comparison before making any recommendation.

Will refinancing affect my credit score?

Applying for credit creates an enquiry on your credit file, which can have a minor short-term impact. A refinance home loan broker submits one application to one lender at a time, rather than triggering multiple enquiries across lenders simultaneously, which reduces the credit score impact compared to approaching lenders independently.

How long does refinancing take?

Refinancing with a new lender typically takes 2–6 weeks, depending on the lender’s processing times, the complexity of your application, and how quickly your existing lender discharges the current loan. Switching products with your existing lender can happen faster.

Can I refinance with bad credit or a low-doc situation?

Yes, though the lender options are different. Specialist lenders exist for borrowers with credit impairments, and low doc loans are available for self-employed borrowers who verify income through alternative documentation. Both typically require higher equity and carry different rate structures. A mortgage refinance broker identifies which lenders are suitable for your specific situation before any application is submitted.

Can I refinance an investment property?

Yes. Investment loan refinancing follows the same process but with investor-specific lender policies, rates, and income assessment criteria. If the goal is accessing equity for an additional investment property purchase, a broker structures both the refinance and the new loan simultaneously.

Not sure which loan type is right for you?

Connect with Craig and he can guide you through the various loans and help you work out which is going to be the best fit.