Refinancing
Refinancing
Refinancing can be a smart move to lower your repayments, access equity, or simply get a better deal. Whether your fixed rate is ending, your needs have changed, or you're just not happy with your current lender, Direct Mortgages Wollongong is here to review your options. With access to over 40 lenders, we compare the market for you and take care of the paperwork — so you can save time, reduce stress, and potentially save thousands.
Refinancing can also open up opportunities to use your home’s equity for property investment, helping you build long-term wealth through capital growth, rental income, and tax advantages. Direct Mortgages Wollongong will help you structure your loan to support smart investment decisions while keeping your financial goals front and centre.
Refinancing FAQs
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Refinancing involves switching your current home loan to a new one — either with your existing lender or a different one.
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To get a lower interest rate, reduce monthly repayments, access equity, consolidate debts, or change loan features.
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It depends on your current rate and loan balance. Even a small rate drop could save you thousands over time — we’ll calculate it for you.
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There may be discharge fees, application fees, or break costs (if fixed). We’ll help you weigh these against the potential savings.
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Possibly — lenders reassess your income, expenses, and credit. We’ll help you find options that suit your current situation.
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It usually takes 2–4 weeks, depending on the lender and your documentation.
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Yes — you may be able to use built-up equity for renovations, investing, or other goals.
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Typically, you’ll need ID, recent payslips, loan statements, and proof of expenses. We’ll guide you through what’s required.
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Maybe — it’s not just about the rate. We also review fees, loan features, and flexibility to see if there’s a better fit.
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We recommend reviewing your home loan every 1–2 years or when your financial goals change.
Watch & Learn: Expert Insights Made Simple
Explore easy-to-follow videos on home loans, property investment, and smart finance tips—designed to help you make confident decisions.