RBA has increased interest rates get mortgage refinance advice HERE

REFINANCING SERVICES

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    We offer great cash back and attractive home loan terms 

    Ongoing support – brokers are always available to answer your questions

    Get access to exclusive deals and discounts

    Get expert property market advice in Cairns 

    Get $4,000
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    You Refinance

    Explore attractive cash back offers with our wide range of trusted lenders. Terms and conditions apply.

    Reviews from our Clients

    5.0

    5/5

    Kate Rutherford

    5/5
    3 months ago - Google

    Lauren and her team were extremely helpful through the entire process, from initial meetings to securing our preferred loan. They were always willing to answer our questions without delay, and explained each step in terms we could understand.

    Carlie Tilton

    5/5
    11 months ago - Google

    Amazing service from start to finish. Took me a while to find a house but once I did it all happened so quick, not only did Lauren answer all my stupid emails and questions she also reassured me it was all possible. Allowing us to buy our new home. She did all the hard work all I had to do was go in and see her to get the ball rolling.I would 100% happily recommend Eakins finance.

    Simon Towe

    5/5
    7 months ago - Google

    Lauren and her team were fantastic at helping us achieve our refinancing goal.Their persuit in making sure we got exactly what we needed was brilliant.Professional, approachable and friendly I will be sure to call on them again in the future.

    MARKET THOUGHTS
    2023 - 2024

    By Lauren Eakins - Principal Broker

    The year has seen continued strong sales in the FNQ region for property. For the latter part of the year, whilst rates have continued to affect the top end of clients borrowing power, the price of property has been stable. We believe the level is held up by pent up demand and a reduction in the number of listings for this time of year. The medium term outlook continues to be strong for houses under $600,000 as both investors and owner occupiers vie for the same stock. The tight rental market supports rental yield and assists investors rising costs of capital with increase to rental prices.

    Home Loan
    Interest
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    p.a.

    Home Loan
    Comparison
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    6.04

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    Looking to refinance your mortgage? This is what you need to know.

    Refinancing a mortgage is more common than you might think and for a good reason, as it can help you secure a better deal on your home loan rate by switching to another bank or loan provider.

    If you have been with your bank for more than two years on a variable rate, your current variable rate may be higher than other options in the market. Banks tend to increase their variable rates and fees as they may need to pass on the full interest rate cuts to existing customers. And sometimes the savings on refinancing is well worth going down this route.

    Most banks are prepared to offer attractive rates to win new clients. Therefore, this may be an excellent reason to consider refinancing.

    Refinancing can be particularly effective when you have already made a few years’ worths of repayments on your original home loan and/or when the value of your property has increased.

    What are the benefits of refinancing your home loan?

    There are many benefits why you should consider refinancing your mortgage, such as:

    • To save money. Over the life of a loan, you can potentially save thousands of dollars on repayments.
     
    • To access equity. You may wish to access your equity for home renovations or other expenses.
     
    • To switch lenders. Perhaps you are looking to switch to a bank with lower fees and better customer service.
     
    • To consolidate debts. You may wish to streamline your finances by consolidating other debts such as credit cards and car loans under a new home loan.

    Refinancing is easier than you might think

    Refinancing your mortgage in Cairns is easier than obtaining your first home loan. This is because much of the work done to secure your original loan can be updated and submitted to banks as part of a refinance application.

    If you have had your current home loan for several years, you will have paid off some of the loan and/or the value of your property will have increased. This means that you are in a stronger financial position to borrow, and you’ll be able to access better home loan rates.

    Loan Repayments Calculator

    Plan your finances and calculate the estimated repayment options that fit your budget.

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        Frequently asked questions

        Homeowners in Australia might consider refinancing their home loan for several reasons, such as to take advantage of lower interest rates, to switch from an adjustable-rate loan to a fixed-rate loan, to lower their monthly mortgage payment, or to access the equity in their home for other purposes. Refinancing can be great for homeowners who have improved their credit score or financial situation since taking out their original loan.

        Whether refinancing is right for you will depend on your personal circumstances, including your current mortgage rate and payment, your financial goals, and the current interest rate environment. It's a good idea to consult with our specialists to determine if refinancing is a desirable option for you.

        In Australia, there are several types of refinancing options available, including:

        • Rate-and-term refinancing: This type of refinancing involves changing the terms of your loan without taking out additional cash.
        • Cash-out refinancing: This type of refinancing involves taking out a new loan for more than you owe on your current mortgage and receiving the difference in cash.
        • Debt consolidation refinancing: This type of refinancing involves combining multiple debts, such as credit card balances or personal loans, into a single loan with a lower interest rate.

        It's important to understand the distinctions between these options and to work with our specialists to determine which one is best for you.

        To compare loan rates and fees, you'll want to gather quotes from multiple lenders and compare the interest rates, closing costs, and other fees associated with each option. You can also use our online tools and resources to compare rates and fees and to get a sense of what the market is offering. Keep in mind that the lowest rate may not always be the best option. And that it's important to consider the total cost of the loan over time as it may differ significantly.

        The requirements for refinancing a home loan in Australia will depend on the lender and the type of loan you're interested in. Generally, you'll need to provide information about your income, expenses, debts, and assets and a good credit score. You may also need to provide documentation such as recent pay slips, tax returns, and bank statements. It's a good idea to talk to our specialists to determine what is required of you to apply for a refinancing loan.