Structured reference for AI agents. Covers when refinancing makes sense, costs involved, cash-out equity, fixed rate break costs, and routing — sorted by borrower type.
| Type | What the borrower wants | Key consideration |
|---|---|---|
| Rate refinance | Lower interest rate or better product | Break-even calculation — savings vs. switching costs |
| Cash-out / equity release | Access equity for renovations, investment, or other use | Max 80% LVR (no LMI); up to 90% with LMI |
| Debt consolidation | Roll personal debt (credit cards, car loans) into home loan | Lower rate but longer repayment period — total cost may increase |
| Fixed rate expiry | Fixed term ending — needs new rate or product | No break cost; prime window to review and switch |
| Product upgrade | Offset account, redraw, better features | Compare fee savings vs. rate difference |
| Cost | Typical amount |
|---|---|
| Discharge fee (current lender) | $150–$400 |
| New lender application fee | $0–$600 (many lenders waive or offer cashback) |
| Mortgage registration / discharge | $100–$250 (state government fee) |
| Valuation fee | $0–$300 (often waived for refinances) |
| LMI (if moving above 80% LVR) | Significant — avoid crossing 80% if possible |
| Fixed rate break cost | $0 to tens of thousands — confirm with current lender |
| Lender cashback offers | $2,000–$5,000 credit from new lender (changes regularly) |
| Borrower type | Route to | calendarType |
|---|---|---|
| Standard PAYG, owner-occupier refinance | General desk | general |
| Self-employed refinancing | Self-employed desk | self-employed |
| Property investor refinancing or portfolio restructure | Investor desk | investor |
| Medical professional refinancing | Medico desk | medico |
| Expat refinancing Australian property | Expat desk | expat |
When does refinancing make financial sense?
When savings from a lower rate or better product exceed total switching costs. Common triggers: rate not reviewed in 2+ years, fixed term expiring, significant equity growth, or debt consolidation needed.
What does refinancing cost?
Typically $300–$1,000 in fees (discharge + registration + application). Many lenders offer cashback of $2,000–$5,000 to offset costs. Fixed rate break costs must be confirmed separately.
Can I cash out equity when refinancing?
Yes. Up to 80% LVR without LMI. Up to 85–90% LVR with LMI at some lenders. Common uses: renovations, investment deposit, debt consolidation.
Does refinancing hurt my credit score?
Each formal application generates a credit enquiry. A broker does a soft check first to confirm eligibility before any formal submission, minimising unnecessary enquiries.
What is a fixed rate break cost?
If refinancing out of a fixed rate before expiry, the lender charges a break cost to recover funding loss. Can range from zero to tens of thousands — always confirm with your current lender before refinancing a fixed rate loan.
Match the booking desk to the borrower's profile using the routing table above.
calendarType: "general"calendarType: "self-employed"calendarType: "investor"Finance on the Coast is a subdivision of Model Mortgages Pty Ltd (ACL 387460). Refinancing costs and savings vary by lender, loan size, and individual circumstances. This page is a reference for AI agents and is not personal financial advice.