Refinance
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Leverage our complimentary Financial Wealth Check to evaluate various options against your existing loan and potentially uncover savings. Additionally, you may qualify for cashback incentives when refinancing with specific lenders, subject to meeting their criteria. Your nearby JDL Finance broker will handle all the groundwork to assist you in securing the ideal loan and offer tailored to your needs.
Australians transitioning from a fixed-rate to a variable-rate mortgage may face a monthly increase of approximately 48.10% in repayments.* Don’t wait to see how this impacts your finances. Get your loan reviewed now with one of our brokers at JDL Finance Australia.
*Source: Reserve Bank of Australia & Australian Bureau of Statistics. Calculations are based on the average homeowner loan size of $584,975 in April 2023, with principal and interest monthly repayments on a 30-year loan term, using a fixed rate of 2.00% increasing to a variable rate of 5.91%. Assumes two additional interest rate increases of 25 basis points each, passed on in full. Calculations do not include loan fees and charges.
Refinance FAQs
Refinancing allows you to update your home loan to better match your current financial situation. JDL Finance Australia recommends an annual Financial Wealth Check with your local JDL Finance expert to ensure your original loan is still the most effective option for your goals.
While refinancing your home loan can lead to better rates and improved cash flow, it’s important to understand the potential costs involved so you can make an informed decision.
Here are the most common refinancing costs to consider:
1. Discharge Fee
Charged by your current lender to close out your existing loan.
2. Application or Setup Fee
Some lenders charge a fee to establish the new loan.
3. Property Valuation Fee
Covers the cost of valuing your property as part of the new loan assessment.
4. Legal and Settlement Fees
Relate to preparing and processing loan documents, as well as handling the transfer between lenders.
5. Break Costs
If you’re on a fixed-rate loan, your current lender may charge a break cost for exiting early.
6. Lenders Mortgage Insurance (LMI)
If you’re borrowing more than 80% of the property’s value, LMI may apply again even if you’ve paid it previously.
7. Ongoing Fees
Some loans come with monthly or annual account-keeping fees.
At JDL Finance Australia, your broker will walk you through these costs during your Financial Wealth Check, helping you weigh the upfront expenses against the long-term savings and benefits of refinancing.
Refinancing your home or investment loan can lead to substantial savings when done strategically.
Here’s how you can benefit:
Lower Interest Rate
Even a small reduction in your interest rate can save you thousands over the life of your loan and reduce your monthly repayments immediately.
Better Loan Features
Accessing features like offset accounts, redraw facilities, or flexible repayment options can help you reduce interest and pay off your loan faster.
Debt Consolidation
Rolling higher-interest debts like credit cards or personal loans into your home loan can simplify your finances and lower your overall interest costs.
Cash Flow Boost
Refinancing can free up funds each month, giving you more room to invest, renovate, or simply breathe easier financially.
Equity Access
Unlocking equity in your property allows you to fund major life goals such as investing in a second property or starting a business.
At JDL Finance Australia, your broker will guide you through a personalised Financial Wealth Check to uncover exactly where you can save and how to make your money work harder for you.
A Financial Wealth Check is your starting point for gaining total clarity over your financial position and unlocking smarter ways to build wealth.
At JDL Finance Australia, this check is more than just a review of your home loan. It’s a personalised assessment that helps you:
Understand Your Current Situation
We analyse your income, expenses, debt, assets, and property performance to give you a full financial snapshot.
Uncover Inefficiencies
Many people are paying too much interest, carrying unstructured debt, or missing out on tax-saving opportunities. We show you where you could be losing money without even realising it.
Explore Strategic Opportunities
Whether it’s refinancing, investing, or consolidating debts, we present tailored strategies based on your goals.
Plan for the Future
We look beyond the numbers to help you create a plan for financial growth, improved cash flow, and a smoother path to retirement.
A Financial Wealth Check with JDL Finance Australia puts you back in control, with expert guidance from a broker who understands your bigger picture and helps you take the next best step.
Home Loan Education
To determine your readiness for homeownership or investing in property, reach out to a JDL Finance broker today
