What is refinancing?

Refinancing your home loan means replacing an existing home loan with a new one.

If you find your current home loan is no longer suitable for you and your lifestyle, whether it's because your fixed loan term is ending or you want to change your interest rate, you can refinance to a home loan more suitable for your situation.


Reasons to refinance your existing home loan:

  • To reduce your home loan repayments
  • Your fixed term loan is ending
  • You're planning to renovate your home
  • Your circumstances have changed and your existing loan is not suitable anymore
  • To consolidate your debts and simplify your finances
  • To get access to new loan features, such as an offset account
  • To use the equity in your home
  • To change your loan type to a fixed rate, variable rate or split rate loan

Why refinance to People’s Choice?

  • Personalised service

    Here at People’s Choice we’re member owned, and that means we’re focused on helping you find the right home loan solution, with personal service available in branch, through our local contact centre, or our mobile Home Loan Advisers who can come to you.

  • FASTReFi®

    FASTRefi® is a process that reduces the time it usually takes to refinance your eligible loan, so you can enjoy the benefits of your new home loan sooner.
  • Loan flexibility

    Enjoy flexible repayment frequency - pay weekly, fortnightly or monthly. Plus, make unlimited extra repayments on variable loans, so you can pay off your loan faster. 

  • Free valuation for package loans

    Receive one valuation each year.

  • Offset account option for selected variable loans

    Link your loan and transaction account to help reduce the interest and time taken to pay off your loan.
  • No application fee on package loans

    Get into your dream home sooner. 

Refinance calculator

Use our online refinance calculator to see how much you could save by refinancing to People’s Choice.

Getting a property valuation

If you’ve decided to refinance to People's Choice, then we’ll need to organise a valuation to confirm the current estimated market value of your home.

There are a few different ways we can do this and it may include having a licenced valuer visit your home at a time that suits you. Your Home Loan Adviser can chat through the process in more detail. They'll help you every step of the way.


Home loan fees and extra charges

Don't get caught by surprise - it's important to be aware of extra charges you may need to pay, including:

  • Application fees
  • Settlement fees
  • Valuation fees
  • Stamp duty
  • Government mortgage registration fees
  • Exit fees
  • Early repayment fees

Contact your current home loan provider to find out what fees are payable if you refinance your existing home loan.

Ready to refinance?

You can apply online or contact one our of Home Loan Advisers.

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