People choose to refinance for a range of reasons. Changes in interest rates, loan features, property value or personal circumstances can all prompt a review. We provide credit assistance to help you understand how refinancing works and what options may be available.
Our role is to explain lender requirements, compare loan structures across a broad panel of lenders, and guide you through the refinancing process from application through to settlement.
Common reasons people refinance
From a lending perspective, refinancing is commonly used to:
Interest rates and lender pricing change over time. Where appropriate, we will first seek to review or reprice your loan with your existing lender, particularly where the structure remains unchanged and a like-for-like (dollar-for-dollar) refinance is suitable.
If a repricing is not available, not effective, or your circumstances have changed, we can then help you understand alternative options and compare lending structures across other lenders.
Some borrowers refinance to access features such as offset accounts, redraw facilities or different repayment options. Others move to simpler loan structures where features are no longer required.
In some cases, multiple loans or debts may be consolidated into a single facility. It’s important to consider fees, loan terms and the total interest payable over time.
If the value of your property has increased or your loan balance has reduced, refinancing may allow access to equity for purposes such as renovations, investments or other personal projects, subject to lender assessment.
How we support you
We support clients refinancing their loans by:
- Reviewing your existing loan and current position
- Explaining how different lenders assess refinancing applications
- Comparing loan structures and features
- Managing the application, approval and settlement process
- Coordinating timing where multiple properties or loans are involved
Where relevant, we also help explain how lenders assess refinancing across owner-occupied and investment properties.
Working alongside your advice team
Where refinancing forms part of a broader financial review, lending considerations are implemented alongside your plan. Decisions around financial and tax advice will be considered within your Ironbark Advice - Financial Advice team as part of your great advice framework.