A fresh perspective on your loan

When this is worth discussing

Reasons to start the conversation usually look like: income or family circumstances have changed, equity has built, the property plan has changed, or the current arrangement simply no longer matches the goal. A review is about fit, not promises — we won’t guarantee savings.

What to gather first

Your current loan balance, repayment amount and remaining term, plus any fees attached to exiting (discharge, break or exit costs). On the broker side, discharging an existing mortgage is a separate lender process — we cover the paperwork coordination through the settlement team and the discharge resources.

What to prepare

• Current lender, balance and rate type
• Monthly repayment and remaining term
• Any break/exit fees you’re aware of
• What you want the new arrangement to achieve
• Property details and approximate value

How the discussion progresses

We compare the objective against the existing position, explain the costs on both sides of a move, and only then discuss whether an application is worth preparing. If it proceeds, the discharge of the existing loan is coordinated with the relevant parties before settlement dates are confirmed.

Set a specific objective

Explain what prompted the review and which outcome matters most. Repayment certainty is different from shortening a term or borrowing additional funds. If a fixed period is ending, share the date and information supplied by the current lender. If you need funds for another purpose, identify that purpose and amount rather than treating it as part of the existing balance. A clear objective helps compare options consistently and avoids choosing an arrangement because one feature appears attractive in isolation. Mention any expected changes in income, expenses or ownership so the review reflects your plans as well as the current position.

Compare the complete cost

Gather the current repayment, balance and remaining term, with information about discharge, break and other switching costs. For a proposed loan, ask about establishment, valuation, ongoing and settlement fees as relevant. Compare term as well as regular payment: spreading repayments over more years can change total interest costs even if the immediate payment falls. Consider which features you use and the conditions attached to them. If a saving is projected, ask which assumptions it uses and how a change in rates, balances or the time you keep the loan affects the result. A comparison should cover both staying and switching.

Coordinate the change carefully

If you proceed, the existing mortgage and new finance need coordination through the relevant lenders and settlement process. Ask when a discharge authority is needed, who must sign and how a settlement date is arranged. Continue meeting existing repayment obligations until the current lender confirms the account position. A refinance may require updated income records, a valuation and checks on the borrowing structure. If circumstances change during the application, tell the team promptly. Confirm what happens to linked accounts and payment arrangements so ordinary banking can be managed alongside settlement. Receipt of an enquiry does not mean the current facility has been discharged.

A useful first conversation

Begin with a short summary rather than sending detailed financial or identity documents in a first message. Tell us the best way to contact you and any dates that affect your plans. We can clarify the information needed and how it should be supplied securely. Ask what remains to be assessed, which parties are involved and what the next step means before making a commitment.

Conditions to keep in mind

No saving is assumed. Whether a refinance is worthwhile depends on the numbers of your specific situation, including exit costs and the terms of any new arrangement.