Refinancing home loans.
Refinancing your home loan.
Refinancing your home loan can be a smart move, but it’s not always clear when or why to do it.
Maybe your rate has crept up. Maybe your circumstances have changed. Or maybe you just haven’t reviewed your loan in a while.
That’s where Dandy comes in.
You don’t need to know whether refinancing is the right move yet. You just need to understand your options.
When refinancing might make sense.
There’s no one reason to refinance. It depends on your goals and where you’re at.
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Reduce your interest rate and repayments
Access equity for renovations, investing or other plans
Consolidate debts into one loan
Change your loan features, such as adding an offset account
Move on from a loan that no longer suits you
Once we understand your situation, we can let you know whether refinancing is worth it, or whether you’re better off staying put.
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Refinancing isn’t just about chasing a lower rate.
Depending on your situation, it could help you:
Save money over the life of your loan
Improve your cash flow month to month
Simplify your finances
Put your equity to better use
Set yourself up for your next move
The right approach depends on your goals, not just what the market is doing.
We’ll help you understand what actually makes sense for you.
The process:
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1. Let's chat
We'll start with a conversation about your goals, answer your questions, and understand your situation. We’ll also get you to complete a questionnaire via email.
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2. Review options
We’ll shortlist up to three loan options for you to review. These will be based on the best rates, fee structure, facilities (such as redraw/offsets), and other factors to your circumstances. We can talk these through, and you can ask any questions.
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3. Apply for loan
Once you've chosen an option, we'll handle the application and work directly with the lender on your behalf. You’ll need to provide ID, payslips and other documentation.
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4. Pre-approval
If the bank approves our application, you'll be granted pre-approval for your loan. You can make an offer on a home with confidence, or even bid at an auction.
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5. Approval & Settlement
Once you’ve found your home, we work with your lender to make it all official. We’ll make sure your deposit is paid and your conveyancer has all the details for settlement.
FAQs.
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There’s no set rule, but it’s worth reviewing your loan every couple of years, or when your circumstances change. If your rate isn’t competitive or your loan no longer suits your needs, refinancing could be worth considering.
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It depends on your current loan, your balance and the new rate available. In some cases, even a small rate reduction can lead to significant savings over time. We’ll break it down clearly so you can see whether it’s worth it.
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There can be costs involved, such as discharge fees from your current lender or setup fees for a new loan. We’ll always weigh up the costs against the savings to make sure refinancing actually makes sense for you.
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Yes. If your property has increased in value, you may be able to access some of that equity. This can be used for renovations, investing, or other financial goals.
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Yes. Even though you already have a loan, lenders still need to reassess your situation. This usually includes payslips, ID and financial information, similar to your original application.
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No.
With Dandy, you’ll deal with the same person from your first question through to long after settlement.
Contact Dandy.
Fill out some info and we’ll be in touch shortly. Alternatively book a call or call Dandy directly on 0432 483 685.
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