Is refinancing free through a broker?

Broker commission is usually paid by the lender, not you, but you may still face discharge, registration or valuation fees from your current or new lender.

How long does a refinance take in Sydney?

It depends on the lender and how quickly your documents come together, but a straightforward refinance often settles within three to six weeks of application.

Will refinancing hurt my credit score?

A refinance application involves a credit check and appears on your file, but it's a normal part of managing a loan and lenders expect to see it.

Refinancing your home loan in Sydney: brokers who can help

Refinancing is a different job to arranging a new purchase loan. A broker handling a refinance needs to work through exit fees, discharge forms, break costs on fixed rates, and timing so you're not paying two loans at once. Many Sydney brokers who arrange first home buyer or investment loans also run refinance cases day to day, but the process, paperwork and lender selection criteria are distinct from a purchase application.

Switching from a bank to get a sharper rate or cash back offer
Refinancing to access equity for a renovation, deposit on a second property, or debt consolidation
Getting out of a loan with an expiring fixed rate before it reverts to a higher variable rate
Restructuring a loan after a change in income, job, or family situation

A broker will usually order a valuation on your property first, then compare your current loan against alternatives across their lender panel before recommending a move.

What it costs

Most Sydney brokers don't charge the borrower directly for a refinance, they're paid a commission by the new lender, though you should ask about clawback clauses if you refinance again within a year or two. Your own costs are usually discharge fees from your current lender, government registration fees, and sometimes a new valuation fee.

Top 3 by our score

Ranked from our published scoring of public Google reviews for mortgage broker.

1. Absolut Financial - Mortgage Broker Melbourne (Request a call back 7 days a week)
5.0★ · 626 reviews

95
2. Mortgage Broker Melbourne
5.0★ · 583 reviews

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3. Finspo – Mortgage Broker
5.0★ · 481 reviews

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FAQ

Is refinancing free through a broker?: Broker commission is usually paid by the lender, not you, but you may still face discharge, registration or valuation fees from your current or new lender.
How long does a refinance take in Sydney?: It depends on the lender and how quickly your documents come together, but a straightforward refinance often settles within three to six weeks of application.
Will refinancing hurt my credit score?: A refinance application involves a credit check and appears on your file, but it's a normal part of managing a loan and lenders expect to see it.

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