Refinancing
Refinancing in Cairns. Loyalty is costing you.
Lenders save their best rates for new customers. A free health check shows what staying put is really costing, and what moving would save.
Who this is for
Anyone who has not looked at their loan in two years.
This is for homeowners who set up their loan, set up the direct debit, and have not thought about it since. It is for people whose fixed rate is about to end and who do not love the revert rate waiting for them. It is for anyone juggling a car loan and a couple of cards who suspects one tidy repayment would be cheaper than four messy ones.
The uncomfortable truth about home loans is that they reward the disloyal. Lenders quietly drift existing customers up while advertising sharper rates to win new ones. The fix is not anger, it is a broker who checks the market for you and makes the lender compete or lose you.
How it works
A health check first. Then, only if it stacks up, a switch.
Send Renaee a recent loan statement and she compares your rate and fees against her lender panel, including what your own lender offers new customers for the identical loan. You get a straight answer: stay, renegotiate, or move.
Often the first move is the easiest one. Renaee goes to your current lender and asks them to match the market. No new application, no paperwork for you, and it works more often than people expect. When they will not play, she lines up the switch: new loan approved first, old loan discharged, all coordinated so you just keep making one repayment.
Every cost of switching is disclosed up front and weighed against the saving. If the numbers do not clear the hurdle, she tells you to stay put and checks again next year. That yearly review comes standard with every Mac & Co loan.
What Renaee needs from you
The paperwork, in one list
- Photo ID, a driver licence or passport
- Your most recent home loan statement
- Two recent payslips, or tax returns if self employed
- Three months of bank statements
- Statements for any debts you want to consolidate
- A rough idea of what your property is worth today
Missing something? Bring what you have. Renaee will tell you what actually matters for your situation.
Common questions
Asked at most kitchen tables
Sometimes no, and Renaee will say so. The maths has to clear the switching costs, which can include discharge fees, application fees and government charges. When the gap is real, the savings over the life of a loan can be substantial. The health check is free either way, so the only thing you risk is finding out you already have a good deal.
Typical costs include a discharge fee from your old lender, government registration fees, and sometimes an application fee with the new one. If you fixed your rate, break costs can apply. Renaee puts every cost on the table next to the projected saving before you decide anything.
If you have enough equity, yes. People use cash out for renovations, a car, an investment deposit or consolidating other debts. Lenders each have their own rules about how much and what for, and Renaee will tell you honestly whether rolling short term debt into a thirty year loan is actually a good idea for you.
Commonly a few weeks from application to settlement, depending on the lenders on both ends. Some lenders offer fast track digital discharges, others still move at paper speed. Renaee manages the handover so your loans do not overlap any longer than they need to.
See also: home loans if you are also buying, investment loans if you are using equity to invest, and the repayment calculator to see what a rate change means in dollars.