RECORD REFINANCING AS HOMEOWNERS TRY TO CUT COSTS

More Australians are refinancing than ever, with the value of loans moved to new lenders reaching an all-time high in the September quarter.

The Australian Bureau of Statistics has revealed that refinancing volumes were 25.2% higher than a year earlier, as households look for ways to manage rising living costs.

Borrowers aren’t waiting for lenders to pass on cuts. They’re proactively switching to avoid overpaying and to lock in sharper rates.

Smart refinancing checks

• Review your current rate – check if it’s still competitive.
• Weigh up special offers, but focus on long-term savings.
• Make sure the new loan structure suits your goals.

Lenders are offering sharper rates and more flexible loan features. If you’ve had your loan for more than two years, there’s a good chance your rate is no longer market-leading.

If you want to see whether your current loan still stacks up, I can compare lenders and show you the potential savings.

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