Home Loan Refinancing Melbourne
SAVE MONEY & LOWER YOUR PAYMENTS
WHY REFINANCE WITH US?
Lower Interest Rates
Home loan interest rates change frequently. By refinancing to a lower rate, you can significantly reduce the cost of your loan and cut years off your mortgage.
Reduce Monthly Repayments
A better rate or a more suitable loan structure can lower your monthly repayments giving you more cash flow each month.
Access Equity
If your home has increased in value, refinancing may allow you to access some of that value to:
- Fund renovations or upgrades
- Consolidate high-interest debts
- Support investments or other financial projects
Equity is the difference between your home’s current market value and what you still owe on your loan and refinancing lets you unlock that value.
Customer Service was very professional and Eric was so empathetic and dealt with me in a caring attitude and I knew he would do his best for me .
Thank you Eric and Regina
Very positive experience.
Highly recommend. I have no hesitation in referring my family and friends.
What Homeowners in Melbourne Should Know Before Refinancing
Costs & Fees to Consider
Refinancing isn’t always free there are associated costs you should understand:
- Property valuation fees
- Exit or “break” costs if you’re leaving a fixed-rate loan
- Application and registration fees
- Conveyancing and legal costs
- Potential lenders mortgage insurance (LMI) if your equity is less than 20%
However, when your long-term savings outweigh the upfront costs, refinancing often makes financial sense.
Loan-to-Value Ratio (LVR) & Eligibility
Lenders will check your loan-to-value ratio (LVR) how much you owe compared to your home’s value. A strong equity position often leads to better interest rates. They’ll also assess your:
- Credit history
- Employment and income stability
- Ability to comfortably service the new loan
Steps to Refinance Your Home Loan in Melbourne
- Review Your Current Mortgage
Analyse your interest rate, any fixed-rate break costs, available equity and features you might be losing or gaining. - Compare Home Loan Options
Look at multiple lenders banks, credit unions, non-bank lenders to find a better value loan. - Estimate Costs vs Savings
Take into account all refinancing costs and how much you’ll save each year after switching. - Submit Your New Loan Application
Provide income documentation, valuation details and other required paperwork. - Settlement
Once approved, the new loan pays out your existing mortgage and begins as your new home loan.
Is It the Right Time to Refinance in Melbourne?
- Interest rates have dropped
- Your financial goals have changed
- Your property has gained significant equity
- You want to consolidate debts or restructure your mortgage
Even if rates haven’t changed dramatically, a better loan structure or access to equity can still make refinancing worthwhile.
owners
Eric was very friendly and responsive and did a perfect job refinancing our home.
— Sidhra jani.
owners
I would like to write this review in details to give others the opportunity of using the professional service Eric Antoniou at Break Free Home Loans provides. Being a detailed and highly organised individual I had picked 3 mortgage brokers and thought I give them a call and the conversation I am going to have with them over the phone will determine which one I choose.
— Dianna agius
owners
Eric delivered great quality service throughout lockdown, was proactive and efficient. Highly recommend Break Free Home Loans for first home buyers who are unsure as Eric explained everything at every step of the way perfectly.
— Jordan Matoe
owners
It was a breeze dealing with Eric for my loans. He is very professional and knowledgeable. Found me right solution and have taken care of all my needs. I would highly recommend anyone looking to do their finances speak to Eric.
— NK
owners
Eric has listened to our goals and interests with what’s currently on offer with loans and rates. He gave us options and knows what’s important to us and assisted us very well when we finally made our decision.
— Rachael Law.
Maximise Your Refinance Benefits
To get the best outcome:
- Work with an expert broker if you want tailored advice and access to more lenders
- Understand all fees and break costs before switching
- Check comparison rates, not just headline interest rates
- Compare multiple refinance quotes
Start Saving on Your Mortgage in Melbourne Today
Refinancing your home loan could unlock:
- Lower interest rates
- Reduced monthly repayments
- Shorter loan terms
- Better alignment with your financial goals
Ask for a tailored refinancing strategy and see how much you could save on your Melbourne home loan. Our experts can help you explore the best options for a refinance home loan Melbourne solution tailored to your financial goals.
As both a member of the Finance Brokers Association of Australia (FBAA) and Australian Financial Complaints Authority (AFCA), we are bound to uphold the highest level of standards when providing finance solutions to customers. Members must meet strict experience, education, ongoing training and insurance requirements in order for them to renew their membership each year.
Member of:
Membership Number: M-343406
Member Number: 68656
Eric Antoniou – 513050
Company Break Free Home Loans – 513051
Finsure Finance and Insurance Pty Ltd. ABN 72 068 153 926.
Australian Credit Licence Number 384704