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At loans.com.au we are proud to offer one of the most competitive interest rates in Australia for customers who want to refinance.
You could save thousands of dollars on your home loan and pay it off sooner by switching to loans.com.au
Benefits include:
Our process, FastTrax Refi, pays out your current lender quickly. You don’t have to contact them, we will do it for you.
FastTrax Refi is a super-fast process where loans.com.au pays off your old loan before sending any paperwork to discharge the loan. In that way you start saving on interest and repayments as soon as possible
From the time you return the completed mortgage documents and Loan Agreement to us, it only takes days to switch to loans.com.au
FastTrax Refi is online from start to finish which puts you in control of how fast your application progresses.
Ready to start saving money? View our suite of home loans to find the right one for you.
onTrack is our innovative online portal which allows you to complete your home loan application entirely on your handheld device or computer from initial contact through to settlement and beyond.
Using onTrack means that you are able to complete your loan application in your own time. You don’t have to wait for a bank branch to open to complete your home loan!
onTrack allows you to download all required forms and documents as well as allowing you to book an appointment with one of our loan specialists at a time that suits you. You can securely submit your forms and supporting documents and provide all mortgage refinance information online.
You can also:
onTrack is an end-to-end system, making your switch to loans.com.au hassle free and fast
onTrack gives you more control to fast track your refinance and more knowledge than traditional lending processes.
Get a better interest rate
Saving money with a lower interest rate is the top reason why people refinance. Even a small reduction in interest rate can save you tens of thousands of dollars over the life of your loan. Switching for a better rate is just a smart move.
Reduce your monthly repayment
Less money going to your home loans each month means more money for the things that matter to you.
Innovative and fast process
You will be dealing with a tech-savvy, award-winning specialist home loan lender. Loans.com.au is changing the face of lending in Australia, challenging the major banks in all areas including price, innovation and efficiency.
Even a small reduction in interest rate can add up to tens of thousands of dollars in savings. Using our handy loan comparison calculator, you can easily work out how much you will save over the life of your loan by switching to loans.com.au. The results may surprise you!
We have created FastTrax Refi to make refinancing a mortgage quicker and more efficient. Using this process, we pay out your old loan so you can start saving money in a fraction of the time it takes to refinance with other lenders. How to refinance a mortgage:
The process works like this:
When you refinance you will need to supply some documents to prove that you can afford to repay the loan
Documents typically required
How long does refinancing take?
Using our FastTrax refinancing process it typically takes about three weeks from submitting an application until settlement. This compares to a traditional refinance with the banks which can take upwards of 6-8 weeks.
What do I need to refinance my home loan?
We need your application form and supporting documents. On our end we’ll arrange a property valuation, credit assessment and all the paperwork with your current lender.
How much can I save?
To find out how much you can save, just use our handy loan comparison calculator
What is my new repayment?
To work out what your new, low repayment will be, just use our simple mortgage repayment calculator.
Do I have to speak with my current lender?
No, just authorise us to deal directly with your existing lender on your behalf and we will take care of it.
How does it work when you’re an online lender?
Being entirely online does not make us less safe than your local bank or broker. In fact, we are proud of our very own secure and innovative application portal onTrack.
Can I refinance my home loan to buy an investment property?
It depends on the property and amount owed. The equity in your property may allow you to borrow more money to buy an investment property. Contact our friendly loan specialist team and we’ll help you find out.
|
Terms |
Description |
|---|---|
| Discharge Authority Form | Instructs your former lender that you would like to close your loan with them and where to send any surplus funds |
| Equity | The difference between the value of the home and the mortgage loan is called equity. Over time, as the value of the home increases and the amount of the loan decreases, the equity of the home generally increases. |
| FastTrax Ref | where we pay off your old loan before sending any paperwork to discharge the loan. In that way you start saving on interest and repayments as soon as possible. From the time you return the completed mortgage documents and Loan Agreement to us, it only takes days to switch to loans.com.au. |
| Final approval | This is the formal approval of your loan. Once you have final approval we have committed to lend you the money. At this stage, you will be issued with mortgage documents which you have to sign and return to make the contract binding. |
| onTrack | Our online application portal. You can manage your loan right through from application to settlement using onTrack. It works on all computers and mobile devices. |
| Loan-to-Value-Ratio (LVR) | Indicates how much of your own money is invested in your property compared to how much you have borrowed. Know how is loan to value ratio ( lvr) calculated. |
| Preliminary approval | Also known as “pre-approval”, this is an offer to lend you a certain amount pending full approval. It does not guarantee that the loan will be approved. |
| Refinance | When you change home loan provider to a different lender |
| Settlement | The date and time where we pay off your existing loan, marking the beginning of your loan with us. Here's how to prepare for settlement day. |
| Valuation | An assessment of the market value of your property. Here are the things that determine the value of the property. |
