Has your home loan kept up with your circumstances? FI Collective helps you review your current lending and explore whether refinancing could suit your needs.
A loan review considers the rate, fees, features and remaining term together. You may be looking for different features, approaching the end of a fixed-rate period or reassessing repayments.
We compare suitable alternatives with your existing loan and explain the costs of switching. Refinancing is not automatically a saving: a longer term can increase total interest, and exit, break or establishment costs may affect the benefit.
Review your existing loan and what you want to change.
Compare suitable options and the overall cost of switching.
Support the application and refinance settlement process.
Refinancing is an opportunity to check whether your home loan still suits your circumstances. A lower rate may be appealing, but switching costs, loan features and your remaining loan term all matter when comparing options.
Extending the term could reduce your regular repayments while increasing the total interest paid over time. It’s also worth considering how long any potential savings would take to cover the costs of switching.
FI Collective helps you review your current loan against suitable alternatives through our lender panel. We explain the differences and costs so you can decide whether refinancing makes sense for your needs and future plans.
Yes, although break costs usually apply and can be significant. Ask your lender for a current payout figure, then we will compare it against the savings a refinance would deliver so you can see whether the switch stacks up. Sometimes it is worth waiting until the fixed period ends.
Often it will, though the size of the saving depends on your new rate, loan balance and remaining term. Resetting a loan back to 30 years lowers the monthly figure while increasing the total interest paid. When we compare refinance home loans for you, we will show you both numbers.
Depending on your current and proposed loans, costs may include discharge fees, application fees and break costs if you leave a fixed-rate loan early. Lenders mortgage insurance may also apply, depending on your equity and the lender’s requirements. We’ll help you compare the relevant costs against any potential savings before you decide.
Not necessarily. Your current lender may offer a more competitive rate or another loan product that better suits your needs. Reviewing that offer alongside alternatives can help you decide whether to stay or switch. Any changes remain subject to the lender’s terms and assessment requirements.
Not sure where to start? Tell us what you’re planning, and our team will help you understand your finance options and what comes next.
