Refinance your home loan

Should You Switch, Stay or Restructure?

Discover how refinancing your home loan to lower repayments, unlock features, and give you more financial flexibility, in a way that’ll have you wondering why you didn’t do it sooner.

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1
Lower repayments

Secure a better rate, reduce your monthly repayments and add features like offset accounts or flexible repayments.

2
Debt consolidation

Combine multiple loans into one manageable repayment.

3
Access equity

Release funds from your home for renovations, investments, or other major expenses.

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Why do people Refinance their home loans?

Refinancing your home loan may help you secure a more competitive rate, reduce repayments, access equity, consolidate debt or restructure your loan around your current goals. Base Home Loans helps Perth homeowners review their existing mortgage, compare lender options and decide whether refinancing is genuinely worthwhile based on the numbers, not just the advertised interest rate.

Should I refinance my home loan right now?

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Refinancing may be worth considering if your current rate is no longer competitive, your fixed rate is ending, your repayments feel stretched, or your loan structure no longer suits your goals. But the right answer depends on your equity, income, expenses, lender policy, future plans and whether the savings outweigh the costs of switching.

We Work With Over 80 Lenders To find the right fit for your life goals.

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How Base Home Loans helps Perth homeowners refinance?

Daniel Niederberger is one of Perth’s leading mortgage brokers, specialising in refinancing solutions. With deep industry knowledge and a client-first approach, he helps homeowners navigate their options, secure better rates, and make refinancing simple and stress-free.

Daniel takes the time to understand each client’s unique financial situation and goals, ensuring every recommendation is tailored to their needs. From reducing repayments to unlocking equity, he guides you through the refinancing process with clarity, transparency, and expert advice—making what can be a complex decision straightforward and manageable.

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Common refinancing Questions

Refinancing can be a smart way to save money, unlock equity, or get a loan that better suits your needs, but it’s important to understand how it works before making the move.

Here we’ve answered the most common refinancing questions asked by our clients, so you can feel informed, confident, and ready to take the next step. You can also read our comprehensive guide to refinancing your home loan here.

It may be a good time to refinance if your current home loan is no longer competitive, your repayments have increased, your fixed rate is ending, or your financial situation has changed since you first took out the loan.

However, refinancing is not automatically the right move for every borrower. A lower advertised rate can look appealing, but the full picture should include fees, loan features, lender policy, borrowing capacity, your future plans and whether the new loan structure actually supports your goals.

For some Perth borrowers, refinancing may help reduce repayments, improve cash flow, consolidate debt or access equity. For others, staying with their current lender and negotiating a better rate may be a better first step.

The best way to know is to complete a proper home loan review that compares your current loan against what is available and considers your broader financial position.

The main reasons people may refinance their home loan are to:
• Lower repayments
• Lower their interest rate
• Change structure (e.g add offset account)
• Change product (change to investment loans)
• Move away from their current bank due to being dissatisfied
• Access funds to invest or for renovations
• Access increased equity
• Fixed period or interest only period expiring
• Increase borrowing capacity
• Consolidate loans and debt

There will usually be some costs associated with refinancing but they are highly variable depending on your circumstances. The costs of these different fees and whether or not they are even charged at all will depend on the lender. Using a mortgage broker will increase your chances of having some (or even all) of the fees waived. 
Of course, if you’re refinancing we would sit down with you and go through all the various scenarios and any associated costs vs savings before proceeding. 
However, it is important to understand some of the fees to be aware of and enquire about include Discharge fees, Application fees, Valuation fees, Land registration fees, Lenders Mortgage Insurance (LMI), Ongoing fees, and Break fees.

Be organised and ready to refinance. Otherwise, you might find your lender automatically reverts your mortgage to their standard variable rate (which may or may not be competitive). It’s a good idea to be proactive, to be ready to change lenders or home loan products depending on your situation. It’s likely that things have changed significantly depending on your fixed term, and your financial goals and plans have probably changed too. 

A fixed home loan is a type of mortgage loan where the interest rate remains fixed for the length of the term agreed. This is different from variable interest rate home loans, which can change as a result of market conditions and the cash rate set by the Reserve Bank of Australia (RBA).
There is no absolute right or wrong answer here, and it is very dependent on your needs and situation for the foreseeable future. 
By taking out a fixed interest home loan, a borrower may be able to avoid rising interest rates and enjoy greater financial security and stability, allowing you to budget more accurately with set mortgage repayments (for the fixed term).
However, some of the ‘cons’ of fixed rate loans include less flexibility, not impacted by rate cuts, that the term will end, and there may be break costs involved if you refinance out of the specified term. 
We can help you decide whether it is the right thing for you at this point in time by going through all your options. 

Your home equity is the difference between your property’s market value and the balance of your mortgage. If you’ve owned your home for a few years, you may have built up some equity in your property that can be leveraged for renovating your home or even purchasing an investment property.
The first step is to determine the amount of equity available in your property using the estimated market value of your home – commonly based on comparable sales within your area or a real estate agent valuation, less the balance of your current loans secured by the property.
From there you would work out how much money is required to achieve your plans. You may or may not be able to access the full amount of equity that’s available, and your servicing capability will still play a part in what’s possible. 
We can help put you in touch with real estate professionals or even organise a property valuation on your behalf to find out your current equity position. 

If your interest rate is higher than current market rates, refinancing could save you thousands over the life of your loan. We can compare your current repayments to today’s best offers and run the numbers for you.

The steps are simple — we assess your goals, find a better option, submit the application, and settle your new loan.

Yes — self-employed refinancing is possible with the right lender and documentation. Some lenders are more flexible than others when it comes to changing circumstances.

Often yes — it’s one of the best times to review your loan before rolling onto a potentially higher variable rate.

Not usually — a single application has little impact. Multiple applications in a short time could lower your score which is another reason why it’s best to be guided by a mortgage. Learn more about credit scores here.

Yes — debt consolidation through refinancing can lower your monthly repayments by rolling higher-interest debts into your home loan, but it’s important to consider the long-term interest costs.

Every 2–3 years is a good rule of thumb, or whenever your circumstances change or you’d like to access some equity for renovations, investment or any other relevant reason.

Your home loan rate may not be competitive if it is significantly higher than what other lenders are offering to borrowers with a similar loan size, equity position and credit profile.

However, the interest rate is only one part of the comparison. A genuinely competitive home loan should also be assessed against:

  • Loan fees
  • Offset account access
  • Redraw options
  • Extra repayment flexibility
  • Customer service
  • Lender turnaround times
  • Loan structure
  • Whether the product still suits your goals

Many borrowers stay with the same lender for years without realising their loan has become less competitive over time. This is sometimes called the “loyalty tax”, where existing customers may not always receive the sharpest pricing unless they ask or review their options.

A mortgage broker can compare your current loan against other options and may also be able to help you negotiate with your existing lender before considering a full refinance.

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How Does Refinancing Work?

When you refinance your home loan, you are replacing your current home loan with a new one, usually with a different lender (but not always).

Refinancing can be highly beneficial, especially if it’s not something you’ve done in a while (or ever!) Our experienced team can help you assess your options, compare home loan lenders, and guide you through the refinancing process to make it simple and stress-free.

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Reviewing your current loan (or loans) and financial goals.

Take a close look at what you’re paying now, how much equity you have, and what you’d like to achieve—whether it’s lowering repayments, consolidating debt, or unlocking funds for renovations or investment.

Comparing lenders, rates, and loan features.

Not all loans are created equal. We’ll help you weigh up the options across banks and non-bank lenders, looking at interest rates, fees, and features like offset accounts or redraw facilities to find the best fit for your situation.

Applying for the new loan and arranging a settlement date.

Once you’ve chosen a loan, we’ll prepare your application and guide you through the approval process. When your new loan is approved, a settlement date is set to finalise the switch. You’ll find using a mortgage broker is a game changer when refinancing, as we’ll facilitate the discharge of your existing loan and make sure everything lines up. No nasty surprises or stress.

Paying off your existing loan and starting repayments on your new loan.

At settlement, your new lender pays out your old loan in full. From there, you begin making repayments on your new loan—ideally with a lower rate, better features, or more flexibility.

Our most read refinancing articles

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  • “Daniel has helped us immensely. He has gone above and beyond with his care and service. He has built a strong relationship with us over the last 8 years and we have been able to trust in his wisdom and work ethic. Daniel has proven again that when it counts he can get the job done. Thanks for helping us save money when costs have been going up and up.”
    Sean S
  • “This company are the ultimate professionals. Daniel’s calm and reassuring manner has got us through some of the toughest refinances. The most impressive thing in a long list that really stuck with me was when the rates were spiking recently, we got a letter saying that they had got us a better rate. This without us asking. A bank would never ever do that for their customers and it’s just good to see businesses like this that show true concern for their client. These days it is extremely rare and to me, Base Home Loans does the extraordinary when so many businesses these days just manage ordinary.”
    Rory M
  • “Daniel has been very helpful during our refinancing process, helping us with all the paperwork and making the process very easy. He really understood our needs after a short conversation and was able to find a loan that suited those needs. Very professional and helpful.”
    Emily T

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