Keystart is a transitional lender, which means once you are in a position to refinance your loan to another lender, you are encouraged to do so. It could be the right time to refinance a keystart loan when you have built up enough equity in your home, because you have paid off some of the loan or your home has increased in value. Perhaps other things have changed regarding your situation that mean you may now meet the criteria of other lenders and could save money on your interest repayments and have more flexible terms. 

When should you refinance a Keystart home loan?

You should refinance as soon as you can, mainly because you are paying a higher rate of interest with a keystart loan. This will largely depend on when you have built up enough equity in your property. 

You can find out all about equity here.

How much higher is Keystart’s home loan interest rate?

Keystart calculates the interest rate charged on their Keystart home loans product by using the average of the standard variable rate of the four major banks – CBA, NAB, Westpac and ANZ. 

Most of our clients will meet the criteria to secure an interest rate well below the standard variable rate with another lender. 

Get in touch right now to find out the lowest interest rate you could be paying

How can i get out of my keystart loan

Unlike other lenders, Keystart wants you to refinance away from them as soon as you can. Using us as your mortgage broker, we will walk you through everything that’s required and make it feel easy. 

We will sit down with you in order to determine what you require from your home loan as well as your short and longer term goals financially and for the property. We’ll bring to light any ideas that you may not have thought of, and we can also help you to understand exactly how much equity you have in the property. As a Perth mortgage broker, we have access to hundreds of loan products from over 40 different lenders, so we will be able to match a loan to your needs with another lender as well as hopefully save you a lot more money on your monthly repayments. 

Find out more about how a mortgage broker can help you here. 

If you’re ready to get started with a quick discovery call you can book now. Otherwise, let’s continue. 

Once you have worked with a mortgage broker to determine a suitable lender, you’ll need to go through the application process. Once again, as an award winning mortgage broker Perth, we are very experienced at making that part easy for you. 

What do I need to know to refinance my keystart loan?

You’ll need to find out what your payout figure is by calling Keystart.

You can do that by calling them on their customer hotline 1300 578 278, alternatively, you can email them at

You’ll also need to have an idea of how much equity you have. From there, it’s all the usual things that we will need to know to determine your ability to service a loan. Eg. income and liabilities. 

Once you have found a suitable lender and been formally approved, you will need to complete the mortgage discharge request form. Your broker can help you to understand exactly what needs to be done and when.

They require a minimum of 10 business days to process a release request.

Are their fees involved in refinancing my loan? 

Refinancing your Keystart loan will have a fee. This will depend on your loan but is roughly around $400 exit fee. There may also be fees associated with setting up a new loan with another lender. However, some lenders offer incentives from time to time where you may receive a cashback offer once your loan is settled. This is always changing, so once again it is best to ask your mortgage broker if there are any cashback offers currently available. 

How do I know if refinancing is worth it?

It’s a matter of weighing up what your repayments are now, vs what they could be when paying a lower interest rate. Factoring in some of the associated break fees for exiting the loan, we can help you to work on how quickly you will start to see the benefit of refinancing. Since the Keystart interest rate is generally a lot higher than that of another lender, you should start to see the savings within a short period of time. 

Talk to us today to find out how much you could save 

Are you looking to refinance a Keystart loan?

With banks always jostling for new customers, it is a good idea to use an experienced Perth mortgage broker to help you consider your options, negotiate with lenders and simplify the home loan process.

Some other questions that we can help you with include:

  • Can I sell my Keystart home?
  • Will I get approved for refinance?

We’d love to hear how we can help you, please contact us for an appointment today.

Give us a call on 0422271888 or apply now to find out if you qualify for a refinance.

*Please note this information is general. The terms and conditions of particular loans differ. Information is correct as at 1 September 2023 and is subject to change. AFG Home Loans lending criteria, terms, conditions, fees, and charges apply. Full details of terms & conditions available on application.  
**Please note, we do not provide tax, legal or accounting advice. This content is for general informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. We encourage you to consult your own tax, legal and accounting advisers before engaging in any transaction.

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