Average Australian Mortgage Size in 2023
29 Nov 2023
Find out how to refinance your home loan the quick and hassle-free way. Our guide contains our loan process, documents, pre-approval, tips and more.
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
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.
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.
Less money going to your home loans each month means more money for the things that matter to you.
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:
Visit loans.com.au and fill out an online application. It only takes a few minutes to complete. You will then be prompted to book a phone appointment with one of our loan specialists.
Loans.com.au loan specialists are home loans specialists with years of experience. We are here to ensure you get the home loan features best suited to your requirements
Once you have applied, you will need to supply some supporting documents such as pay slips, bank statements and details of your existing loan. You can do this using onTrack, our easy-to-use online portal. You can use onTrack on any computer or mobile device including your mobile phone.
We will arrange for a property valuation to
We will conduct a credit assessment and if it is satisfactory we will approve your loan.
At this Stage you will receive through onTrack:
In most cases, we will send funds directly to your current lender and do the paperwork with them later. Because the loan balance is now zero, from that date you no longer pay them interest, even if they drag their heels on discharging the loan. We pay the loan out by estimating payout costs based on current balance, rate and repayments.
Once the payment is made, you will receive your login credentials for Online Services so you can manage your loan online.
When you refinance you will need to supply some documents to prove that you can afford to repay the loan
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.
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.
To find out how much you can save, just use our handy loan comparison calculator
To work out what your new, low repayment will be, just use our simple mortgage repayment calculator.
No, just authorise us to deal directly with your existing lender on your behalf and we will take care of it.
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.
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.
As Australia's leading online lender, loans.com.au has been helping people into their dream homes and cars for more than 10 years. Our content is written and reviewed by experienced financial experts. The information we provide is general in nature and does not take into account your personal objectives or needs. If you'd like to chat to one of our lending specialists about a home or car loan, contact us on Live Chat or by calling 13 10 90.