Refinancing Checklist
Everything worth having ready before we start comparing your options.
You don't need everything on this list to have a first conversation. It's here so you know what's coming and can gather documents at your own pace.
Is It Worth Refinancing?
Refinancing usually pays off, but it's worth a real comparison rather than a guess. It's generally worth a look if any of these sound familiar:
- You haven't reviewed your rate in the last 12-18 months
- Your fixed rate period is ending soon
- You want to consolidate other debts into your home loan
- You want to access equity for renovations or an investment
- Your circumstances have changed since you took out the original loan
The Document Checklist
Identification
- Current driver's licence or passport
- Medicare card or another secondary ID
- Proof of current address (a recent bill or bank statement)
Proof of Income
- Last 2-3 payslips, or a letter from your employer
- If self-employed: two years of tax returns and Notices of Assessment
- If self-employed: recent BAS statements or an accountant's letter
- Evidence of any rental income (lease agreement, recent rent statements)
Debts & Expenses
- Six months of statements for your current home loan
- Statements for any personal loans, car loans or credit cards
- A realistic monthly living expenses estimate
- Details of any buy-now-pay-later accounts
Property Details
- Current council rates notice
- A recent copy of your home loan statement
- Building insurance details
- An estimate of your property's current value (I can help with this)
A Few Things Worth Knowing
- Break costs or exit fees may apply if you're leaving a fixed rate early, I'll factor these into the comparison.
- Discharge and new lender establishment fees are usually small compared to the savings, but I'll show you the real numbers.
- Timing your refinance around your fixed rate expiry can avoid unnecessary break costs.