Refinancing
Refinancing means replacing your current loan with one that suits you better, often to secure a sharper rate, unlock equity or consolidate debt into a single manageable repayment. Tudor Finance reviews your existing lending against a panel of 25+ lenders and handles the switch from start to finish for homeowners across Melbourne’s East.
Reasons to refinance
- Lower your interest rate and repayments
- Access equity for renovations, investment or other goals
- Consolidate higher-interest debts into your home loan
- Switch to features such as an offset account or redraw
- Move off an expired fixed rate before it reverts to a higher variable rate
How the process works
- We review your current loan, rate and features
- We compare your position against a panel of 25+ lenders
- We weigh switching costs against the real saving before you commit
- We manage the new application and discharge through to settlement
Frequently asked questions
Is refinancing worth it?
It depends on the gap between your current rate and what is available, minus any switching costs such as discharge or break fees. We run the numbers so you can see the real saving before committing.
Will refinancing hurt my credit score?
A refinance involves a credit enquiry, which can have a small short-term effect. Applying to many lenders at once has more impact, which is why we target the right lender for you rather than scattering applications.
Can I refinance to access equity?
Yes. If your property has grown in value, refinancing can release usable equity for renovations, an investment deposit or other purposes, subject to lender approval.
The information on this page is general in nature only and is not specific advice for your individual circumstances. Tudor Finance Pty Ltd, Australian Credit Licence No. 393142.
