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Refinance Loan

Make Your Home Loan Work Better For You

A refinance loan is a type of loan that lenders offer that allows you to replace your existing home loan with a new one, either with the same lender or a different one. Refinancing may provide access to a different interest rate, repayment structure or loan features. It may also allow eligible borrowers to access usable equity, subject to valuation, serviceability and lender approval. Nice Loans helps borrowers compare potentially suitable refinancing options available through our lender panel, considering rates, fees, features, criteria & long-term effect of switching.

A refinance loan involves paying off your current mortgage and replacing it with a new one. Homeowners usually refinance for many reasons, including lowering repayments, consolidating debts, accessing equity, or adjusting loan features to suit the changing circumstances.

When Should Refinancing Be Considered?

Refinancing may be worth considering when another loan could offer an overall benefit after rates, fees, features, switching costs and the remaining loan term are compared.

why refinancing

Key Features of Refinance Loans

Depending on the lender and loan type, refinance loans may include:

features of refinancing
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Refinance Loan Options We Help With

We know that every borrower's situation is different. That's why we compare potentially suitable loan options available through our approved lender panel, considering relevant rates, fees, features & lender criteria. Here are some of the loan options we can help you with.

principal & interest loan

Principal & Interest Refinance

With a principal & interest repayment structure, you are required to pay down both interest and the original loan amount (principal) over the term of the loan.

interest only loan

Interest Only (IO) Refinance

In an interest only loan, you only pay the interest for a set period, without reducing the loan principal. This will lower monthly repayments during the IO period and improve cash flow.

variable rate loan

Variable Rate Refinance

In a variable-rate refinance, the interest rate and repayments may increase or decrease over the loan term. Features and fees vary between products.

fixed rate loan

Fixed Rate Refinance

The interest is fixed for an agreed period, providing repayment certainty during that period. A limit may apply to extra repayments and redraw. Break costs may apply if the loan is changed or repaid during the fixed term.

split loan

Split Loan Refinance

A split loan combines both fixed and variable rates in one mortgage. This allows you to enjoy repayment stability while still retaining flexibility.

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Cash-Out / Equity Release Refinance

This option will allow you to refinance for a higher amount than your existing loan and access the difference as cash. However, subject to lender approval & serviceability assessment.

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Is Refinance Loan Beneficial for you?

Refinance loan come with specific terms and conditions different than other type of home loan set by lenders that can be favorable to certain group of people. Here's a breakdown of pros and cons:

Pros

Cons

Disclaimer: Loan suitability depends on individual financial circumstances, lender policies, and long-term property plans. This is general information only and does not constitute financial or legal advice. Please seek professional advice before making any investment decisions.

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Find Out If Refinancing Could Help You

Use our mortgage refinance calculator to estimate potential differences in repayments & interest based on the assumptions entered.

Looking for the best mortgage solution?

We are here to help with your queries. Call us today 07 3114 2281 and get started with your home owning journey.

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Why Nice Loans As Your Mortgage Broker?

Our mission is simple. We make home loans easy, clear, and stress-free for you.

Access to More Lenders

We compare loan products from a broad panel of lenders, giving you access to competitive rates and flexible loan options that suit your individual circumstances.

Expert Guidance

From initial enquiry through to settlement, we manage the entire process on your behalf. We handle the paperwork, lender communication, and application submissions, and follow up, keeping everything moving smoothly.

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Client First Approach

Your goals are always our priority. We take the time to understand your situation, provide clear recommendations, and build long-term relationships based on transparency and results.

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Simple and Stress-Free

Home loans, although complex, don’t have to be overwhelming. We handle your paperwork, document prep, bank submissions, negotiations and approvals without chaos.

A Trusted Mortgage Broker Helping Clients Across Australia

We appreciate the positive feedback shared by our clients

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Frequently Asked Questions

Here are some frequently asked questions by our clients. If you have any specific questions, please don't hesitate to contact us.

Refinancing means replacing your current mortgage with a new one. It is either with a same lender or a different one to access better rates, features, or loan structures.

Refinancing may help in reducing repayments or total interest when the new loan provides a sufficient benefit after fees, switching costs & the loan term are considered. A lower monthly repayment doesn’t necessarily mean a lower overall cost, particularly if the loan term is extended.

Refinancing costs may include discharge or termination fees, application fees, valuation fees, settlement or legal fees, government charges, package fees, fixed rate break costs & LMI. The applicable costs will depend on the existing and proposed loans.

Some lenders may allow eligible borrowers to refinance up to 80% LVR without LMI. This doesn’t mean that 80% of the property’s value is available as cash. The accessible equity depends on the existing loan balance, lender valuation, acceptable LVR, serviceability, loan purpose and credit criteria.

It can. Many borrowers refinance back to a 25- or 30-year loan term which can lower the repayments but may increase the total interest payable over time if not managed carefully.

You can refinance with your current lender or switch to a new one depending on where you’re getting better terms and features. 

In most standard residential refinancing cases, borrowers don’t pay broker fee to us as we receive commission from the lender. Fees may apply to certain loan types or complex applications. Any applicable broker fee, lender fee or commission will be disclosed to you before proceeding.

Refinancing may be worth reviewing when your existing rate or features are no longer competitive, when your fixed period is ending, when your circumstances have changed or you want to assess usable equity. The decision should be based on the total costs, remaining loan term, expected benefit & lender eligibility, not interest rates or property values alone.

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Get Your Home Loan Sorted

Answer a few quick questions so we can understand your situation and discuss possible options.

What can we help you with?

Select the option that best matches your situation.

Purchase
Tell us about the property

Enter the purchase price, how much you'd like to borrow, and your deposit amount.

$
Please enter the property price.
$
Please enter your desired loan amount.
$
Please enter your deposit amount (enter 0 if none).
Purchase
Estimated Monthly Repayment

Based on your loan amount, the following estimate illustrates repayments using interest rates from 6% to 7% p.a.

Monthly Repayment (mid)
Principal & interest · 30-year term
Range: at 6% p.a.  to  at 7% p.a.
Illustrative principal-and-interest repayments over 30 years only. The calculation excludes fees and does not represent a personalised rate quote, borrowing assessment or loan approval.
Loan-to-Value Ratio (LVR)
Based on borrow vs purchase price
Do these estimated repayments appear manageable based on your current budget?
Purchase
Deposit & Security

How will you be securing this loan?

Purchase
Are you a First Home Buyer?

You may be eligible for federal and state or territory first-home-buyer assistance. Available grants, concessions, property limits and eligibility requirements depend on where you purchase.

Purchase
What is your employment situation?

This helps us discuss potentially suitable options available through our lender panel.

Purchase
How would you describe your credit history?

Be as honest as you can — it helps us find the right lender for your situation.

Refinance
Tell us about your current loan

We’ll provide an indicative equity calculation and compare your existing loan with potentially suitable refinancing options available through our lender panel.

$
Please enter your property's estimated value.
$
Please enter your remaining loan balance.
$
Please enter your desired loan amount.
Refinance
Estimated Monthly Repayment

Based on your refinance amount, the following estimate illustrates repayments using interest rates from 6% to 7% p.a.

Monthly Repayment (mid)
Principal & interest · 30-year term
Range: at 6% p.a.  to  at 7% p.a.
Illustrative principal-and-interest repayments over 30 years only. The calculation excludes fees and does not represent a personalised rate quote, borrowing assessment or loan approval.
Indicative Property Equity
Estimated property value minus loan balance. This is not necessarily the amount you can borrow or access.
Do these estimated repayments appear manageable based on your current budget?
Refinance
What is your employment situation?

This helps us discuss potentially suitable options available through our lender panel.

Refinance
How would you describe your credit history?

Be as honest as you can — it helps us find the right lender for your situation.

Build
Tell us about your build project

Select your land situation, then enter the values. Total project value is calculated automatically.

$
Please enter the land value.
$
Please enter the estimated construction cost.
Build
How much do you want to borrow?

Enter the amount you would like to borrow. The amount available is subject to lender assessment, valuation and lending criteria.

$
Please enter your desired loan amount.
$
Please enter your deposit amount (enter 0 if none).
Build
Estimated Monthly Repayment

Based on your construction loan amount, the following estimate illustrates repayments using interest rates from 6% to 7% p.a.

Estimated Monthly Repayment
Principal & interest · 30-year loan term
Range: at 6% p.a.  to  at 7% p.a.
Illustrative principal-and-interest repayments over 30 years only. The calculation excludes fees and does not represent a personalised rate quote, borrowing assessment or loan approval.
Do these estimated repayments appear manageable based on your current budget?
Build
Deposit & Security

How will you be securing this construction loan?

Build
What is your employment situation?

This helps us discuss potentially suitable options available through our lender panel.

Build
How would you describe your credit history?

Be as honest as you can — it helps us find the right lender for your situation.

Almost done — your details

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