Compare Refinance Rates from 70+ Lenders

Q: How much could I save by refinancing?

How much you save depends on the gap between your current rate and the rate you switch to. Illustratively, on a $600,000 loan, dropping your rate by 0.50% saves approximately $190/month ($2,280/year). Use our break-even calculator above to estimate your personal savings based on your current rate and loan balance.

Q: What is a break-even period for refinancing?

The break-even period is how long it takes for your interest savings to exceed the switching costs. If refinancing costs $1,500 and saves $200/month, you break even in 7.5 months. Any savings after that point are pure benefit. A break-even under 12 months is generally considered worthwhile.

Q: What's the difference between refinancing and renegotiating?

Refinancing means switching your entire loan to a new lender. Renegotiating (or repricing) means asking your current lender for a better rate. Try renegotiating first - call your lender's retention team with competitor rates. If they won't match, refinance externally. Renegotiating has zero switching costs.

Q: How often should I review my home loan?

Review your home loan at least annually, and always after RBA rate changes. Key triggers: your fixed rate is expiring within 3 months, you haven't compared rates in 12+ months, your lender raises rates without an RBA change, or your property value has increased (lowering your LVR and qualifying you for better rates).

Q: What fees do I pay when switching home loans?

Typical refinancing costs total $700-$2,000: discharge fee ($150-$400), application fee ($0-$600, often waived), valuation ($200-$600), and legal/settlement ($200-$500). State mortgage registration fees range from $120-$198. Many online lenders offer fee-free refinancing to attract switchers in 2026.

Q: What is a discharge fee?

A discharge fee is charged by your current lender when you pay out your loan. It covers the administrative cost of releasing the mortgage from the property title. Most lenders charge $150-$400. This fee applies whether you're refinancing, selling, or simply paying off the loan. It's non-negotiable.

Q: Do I pay stamp duty when refinancing?

No. Stamp duty only applies when you purchase a property. Refinancing with a new lender does not trigger stamp duty because there is no change of property ownership. You will pay mortgage registration fees (varying by state from $120-$198) but these are significantly less than stamp duty.

Q: Can I refinance a fixed-rate home loan?

Yes, but you may face break costs. Break costs compensate the lender for lost interest when you exit early. They can range from a few hundred dollars to $20,000+ depending on the rate differential and remaining fixed term. Ask your lender for a break cost estimate before proceeding.

Q: Are cashback refinance deals worth it?

Sometimes. A $4,000 cashback on a loan priced 0.25% above the sharpest rate costs more than taking the lower rate over 3+ years. On a $500,000 loan, that 0.25% rate difference equals $1,250/year in extra interest. After 3.2 years, the lower rate saves more than the cashback. Always compare total cost, not just the upfront offer.

Q: How much equity do I need to refinance?

Ideally 20% equity (80% LVR) to avoid Lenders Mortgage Insurance. With less than 20% equity, you can still refinance but may pay LMI again ($8,000-$35,000 depending on loan size). Some lenders accept 85-90% LVR for refinancers. Check if your original LMI policy is transferable to save costs.

Enter your current rate and loan balance for an indicative savings estimate. Free, independent, updated daily. find.deals™ is a comparison and referral service - we refer enquiries to our accredited broker partner.

Rates updated 2 November 2026

Current loan balance

Current rate (%)

Remaining term

100% free. No impact on your credit score.

Compare home loan refinance rates Australia

Where refinance rates sit today

4.60%

RBA Cash Rate

Up from 4.35% - 29 Sept 2026

Rising

Rate Direction

+25 bps on 30 Sep 2026

618,966

Refinancing Volume

Year to Sept 2025, ABS

The RBA has lifted the cash rate to 4.60% (up from 4.35%). Many lenders offer cashback incentives and discounted rates for refinancers. With variable rates currently lower than fixed, a variable loan is cheaper today but moves with each RBA decision.

In 2020 the ACCC found home loans 3-5 years old paid around 0.58% more than new loans (ACCC Home Loan Price Inquiry, final report, December 2020). Actual savings depend on your loan size, your current rate, the rates available to you, and switching costs.

70+ lenders compared Updated daily Fixed rates from 6.09% p.a. (6.24% comparison rate*) 100% free comparison

What Are the Best Refinance Rates in Australia Right Now?

As of November 2026, the lowest variable refinance rates start from 5.93% p.a. (6.28% comparison rate*; broadly available products, lender eligibility criteria apply) for owner-occupiers with LVR below 80%. Refinance cashbacks come and go; none of the offers we track are current today, and a lower rate almost always beats a cashback over 3+ years.

Lender	Product	Rate	Comparison	Monthly	Cashback	Features
SCCU	EMONEY HOME LOAN	5.93%	6.28%	$3,570	-	Offset, Redraw
SCCU	BROKER HOME LOAN	5.93%	6.28%	$3,570	-	Offset, Redraw
NORTHERN INLAND CREDIT UNION LTD.	Value Home Loan - Owner Occupied	5.94%	5.98%	$3,574	-	Redraw, Digital banking
The Mutual Bank	Budget Home Loan	6.04%	6.04%	$3,613	-	Digital banking, Redraw
Greater Bank	Discounted Great Rate Home Loan - Variable Owner Occupied	6.09%	6.10%	$3,632	-	Redraw, Digital banking
South West Slopes Credit Union	Intro Discounted Standard Variable Home Loan	6.10%	6.10%	$3,636	-	Digital banking, Redraw, Offset, NPP
South West Slopes Credit Union	Optimum 2 Year Fixed Rate Home Loan	6.10%	6.10%	$3,636	-	Digital banking, NPP, Redraw
South West Slopes Credit Union	Optimum 3 Year Fixed Rate Home Loan	6.10%	6.10%	$3,636	-	Digital banking, NPP, Redraw
POLICE CREDIT UNION LIMITED	Low Rate Home Loan Special Offer - Owner Occupied	6.14%	6.18%	$3,651	-	Digital banking, NPP, PayID, Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	REFI SPECIAL OWNER OCCUPIED	6.14%	6.24%	$3,651	-	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	2 FIXED RATE HOME LOAN	6.14%	6.14%	$3,651	-	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	1 YEAR FIXED RATE LOAN	6.14%	6.14%	$3,651	-	Offset, Redraw
Bendigo Bank	Bendigo Express Home Loan	6.14%	6.27%	$3,651	-	Redraw, Offset
Community First Credit Union	Go Basic Variable Home Loan - Owner-occupied LVR 80% (Principal and Interest)	6.15%	6.20%	$3,655	-	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	GOVT LOW DEP VARIABLE OOC PI	6.17%	6.24%	$3,663	-	Redraw, Digital banking, PayID, NPP
Bank of China	Discount Home Loan (With Principal and Interest Repayment)	6.18%	6.38%	$3,667	-	Redraw, Digital banking
Bank of China	Discount Plus Home Loan (with Principal and Interest Repayment)	6.18%	6.56%	$3,667	-	Redraw, Offset, Digital banking
Bank of us	Flexidiscount Home Loan	6.19%	6.19%	$3,671	-	Redraw, Digital banking, NPP
FIRST OPTION BANK	SIMPLE HOME LOAN	6.19%	6.19%	$3,671	-	Digital banking, Redraw
Border Bank	Customs Value Home Loan	6.19%	6.26%	$3,671	-	Redraw, Offset
Up	Up Home Loan	6.20%	6.20%	$3,675	-	Digital banking, Offset, Redraw
Bank of us	TOPLINE HOME LOAN	6.24%	6.24%	$3,690	-	NPP, Redraw, Digital banking, Offset
UNITY BANK	Momentum Home Loan 60LVR - Owner Occupier - Variable - P&I SO	6.24%	6.29%	$3,690	-	Offset, Redraw, PayID, NPP, Digital banking
BankWAW	Back to Basics Owner Occupied	6.24%	6.29%	$3,690	-	Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR < 60%	6.24%	6.30%	$3,690	-	Redraw, Offset
Bank First Production	Basic Home Loan Variable LVR<60%	6.24%	6.29%	$3,690	-	Redraw, PayID, Digital banking
FIRST OPTION BANK	COMPLETE PACKAGE HOME LOAN	6.24%	6.59%	$3,690	-	Redraw, Digital banking, Offset
Police Bank	Goldrate Home Loan	6.24%	6.31%	$3,690	-	Redraw, Offset
BankVic	Home Loan Special Variable Rate	6.24%	6.24%	$3,690	-	Redraw, Offset
Border Bank	Goldrate Home Loan	6.24%	6.31%	$3,690	-	Offset, Redraw
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan New Borrowing	6.24%	6.58%	$3,690	-	Redraw, Offset, Digital banking
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan New Borrowing INV	6.24%	6.58%	$3,690	-	Redraw, Offset, Digital banking
HUME BANK LIMITED	liteBlue O/Occ P+I (up to 60%LVR)	6.24%	6.25%	$3,690	-	Digital banking, Redraw
Community First Credit Union	BOOST PACKAGE HOME LOAN - OWNER-OCCUPIED LVR 80% (Principal and Interest)	6.29%	6.66%	$3,710	-	Offset, Redraw, Digital banking
ING	Mortgage Simplifier	6.29%	6.32%	$3,710	-	Digital banking, PayID, NPP, Redraw
Bank First Production	Basic Home Loan Variable LVR 60-70%	6.29%	6.34%	$3,710	-	Redraw, PayID, Digital banking
A-Auswide Bank	BASIC HOME LOAN	6.29%	6.32%	$3,710	-	Redraw, NPP, PayID
Tiimely	Tiimely Basic Home Loan	6.29%	6.30%	$3,710	-	Redraw
Easystreet	STREET SMART VARIABLE HOME LOAN - OWNER-OCCUPIED (Principal and Interest)	6.29%	6.34%	$3,710	-	Offset, Redraw
Credit Union SA	Variable Home Loan Package Specials	6.29%	6.66%	$3,710	-	Redraw, Offset, Digital banking
NRMA Insurance	NRMA Basic Home Loan	6.33%	6.37%	$3,726	-	Redraw
UNITY BANK	Advantage Home Loan - Owner Occupied - Variable P&I - Without Offset	6.34%	6.39%	$3,729	-	Redraw, PayID, NPP, Digital banking
UNITY BANK	Momentum Home Loan 60-80LVR - Owner Occupier - Variable - P&I SO	6.34%	6.39%	$3,729	-	Offset, Redraw, PayID, NPP, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR <60%	6.34%	6.72%	$3,729	-	Offset, PayID, Digital banking, Redraw
BankWAW	Home Equity Loan Owner Occupied	6.34%	6.37%	$3,729	-	Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR 60-70%	6.34%	6.40%	$3,729	-	Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Variable LVR <60%	6.34%	6.39%	$3,729	-	Offset, PayID, Digital banking, Redraw
Bank First Production	Basic Home Loan Variable LVR 70-80%	6.34%	6.39%	$3,729	-	Redraw, PayID, Digital banking
CENTRAL WEST CREDIT UNION LTD	Premium Smart Home Loan	6.34%	6.40%	$3,729	-	Redraw, Offset, Digital banking
Credit Union SA	40 Year Home Loan Package	6.34%	6.71%	$3,729	-	Redraw, Offset, Digital banking
HUME BANK LIMITED	liteBlue O/Occ P+I (60%-80% LVR)	6.34%	6.35%	$3,729	-	Digital banking, Redraw
Credit Union SA	Variable Home Loan Package Specials	6.34%	6.71%	$3,729	-	Redraw, Offset, Digital banking
HUME BANK LIMITED	myBlue Variable O/Occ P+I (up to 60% LVR)	6.34%	6.34%	$3,729	-	Redraw, Digital banking, Offset
BankVic	Fixed Rate Home Loan - 5 years	6.35%	6.35%	$3,733	-
BankVic	Fixed Rate Home Loan - 4 years	6.35%	6.35%	$3,733	-
BankVic	Fixed Rate Home Loan - 3 years	6.35%	6.35%	$3,733	-
BankVic	Fixed Rate Home Loan - 1 year	6.35%	6.35%	$3,733	-
BankVic	Fixed Rate Home Loan - 2 years	6.35%	6.35%	$3,733	-
BankVic	Home Loan Variable Rate	6.35%	6.35%	$3,733	-	Redraw
BNK Bank (Goldfields Money/BCHL)	Gold Prime Residential Basic Home Loans	6.35%	6.38%	$3,733	-	Digital banking, Redraw
Qudos Bank	Low Cost Value Package	6.38%	6.56%	$3,745	-	Offset, Redraw
Qudos Bank	No Frills Home Loan	6.38%	6.38%	$3,745	-	Digital banking, NPP, PayID, Redraw
Qantas Money	QANTAS Money Basic Home Loan	6.38%	6.45%	$3,745	-	Redraw
Bendigo Bank	Bendigo Easy Home Loan	6.38%	6.40%	$3,745	-	Redraw
CommBank	Digi Home Loan (Owner Occupied)	6.39%	6.41%	$3,749	-	Redraw, Digital banking, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR 60-70%	6.39%	6.77%	$3,749	-	Digital banking, PayID, Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Variable LVR 60-70%	6.39%	6.44%	$3,749	-	PayID, Digital banking, Redraw, Offset
BankVic	Offset Variable Rate Home Loan	6.39%	6.39%	$3,749	-	Redraw, Offset
POLICE CREDIT UNION LIMITED	Low Rate Home Loan - Owner Occupied	6.39%	6.46%	$3,749	-	Digital banking, NPP, PayID, Redraw, Offset
POLICE CREDIT UNION LIMITED	Renovation Loan - Owner Occupied	6.39%	6.46%	$3,749	-	Digital banking, NPP, PayID, Redraw, Offset
ORANGE CREDIT UNION LTD	Basic Variable Rate Home Loan	6.39%	6.44%	$3,749	-	Redraw
Bendigo Bank	Single Parents (Bendigo Complete Home Loan)	6.43%	6.65%	$3,765	-	Offset, Redraw
Unloan Prod	Unloan Home Loan	6.44%	6.35%	$3,769	-	Digital banking, Redraw, NPP
Bank of Queensland	Economy Variable Home Loan	6.44%	6.58%	$3,769	-	Redraw, Digital banking
THE CAPRICORNIAN	Variable Rate Offset Home Loan	6.44%	6.44%	$3,769	-	Offset, PayID, Digital banking, NPP, Redraw
UNITY BANK	Advantage Home Loan - Owner Occupied - Variable P&I - With Offset	6.44%	6.49%	$3,769	-	Redraw, Offset, PayID, Digital banking, NPP
UNITY BANK	Momentum Home Loan 80LVR - Owner Occupier - Variable - P&I SO	6.44%	6.49%	$3,769	-	Offset, Redraw, PayID, NPP, Digital banking
ING	Orange Advantage	6.44%	6.73%	$3,769	-	Digital banking, PayID, NPP, Redraw, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR 70-80%	6.44%	6.82%	$3,769	-	PayID, Digital banking, Redraw, Offset
Greater Bank	Discounted Ultimate Packaged Home Loan - Variable Owner Occupied	6.44%	6.80%	$3,769	-	Offset, Digital banking, Redraw
Bank First Production	Complete Home Loan Owner Occupied Variable LVR 70-80%	6.44%	6.49%	$3,769	-	Offset, PayID, Digital banking, Redraw
Bank of Sydney	BOS Basic Home Loan Owner Occupied	6.44%	6.48%	$3,769	-	Redraw, Digital banking
The Mutual Bank	Package Home Loan	6.44%	6.80%	$3,769	-	Offset, Redraw, Digital banking
NAB	NAB Tailored Home Loan	6.44%	6.57%	$3,769	-	Offset, Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (60.01 - 80.00% LVR)	6.44%	6.44%	$3,769	-	Redraw, Digital banking, Offset
Community First Credit Union	Go Basic Variable Home Loan - Owner-occupied LVR 95% (Principal and Interest)	6.45%	6.50%	$3,773	-	Digital banking, Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR 70-80%	6.49%	6.55%	$3,788	-	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	BASIC VARIABLE LOAN	6.49%	6.59%	$3,788	-	Redraw, Offset
Cairns Bank	CLASSIC HOME LOAN VARIABLE <60 LVR PI	6.49%	5.95%	$3,788	-	Redraw
Aussie Home Loans	Aussie Elevate Basic Home Loan	6.54%	6.56%	$3,808	-	Redraw
Connective Select Home Loans	Connective Select Basic Home Loan	6.54%	6.56%	$3,808	-	Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 12 mths P&I Owner Occupied	6.54%	6.54%	$3,808	-	Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 24 mths P&I Owner Occupied	6.54%	6.54%	$3,808	-	Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 36 mths P&I Owner Occupied	6.54%	6.54%	$3,808	-	Offset, Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE 60-80 LVR PI	6.54%	6.00%	$3,808	-	Redraw
AFG Home Loans Alpha	AFG Alpha Basic Home Loan	6.54%	6.56%	$3,808	-	Redraw
HUME BANK LIMITED	liteBlue O/Occ P+I (80%-90% LVR)	6.54%	6.55%	$3,808	-	Digital banking, Redraw
Community First Credit Union	BOOST PACKAGE HOME LOAN - OWNER-OCCUPIED LVR 95% (Principal and Interest)	6.59%	6.96%	$3,828	-	Offset, Redraw, Digital banking
Unknown lender	Standard Variable Plus	6.59%	6.75%	$3,828	-	Redraw, Offset
Cairns Bank	PLUS HOME LOAN VARIABLE <60 LVR	6.59%	6.27%	$3,828	-	Redraw, Offset
LCU	Intelligent Mortgage 1 Year Fixed	6.60%	6.61%	$3,832	-	Redraw, Digital banking, NPP, PayID
LCU	Intelligent Mortgage 2 Years Fixed	6.60%	6.63%	$3,832	-	Redraw, Digital banking, NPP, PayID
LCU	Intelligent Mortgage Variable	6.60%	6.62%	$3,832	-	Redraw, Offset, Digital banking, NPP, PayID
THE CAPRICORNIAN	No Frills Owner Occupied Home Loan	6.64%	6.69%	$3,848	-	PayID, NPP, Digital banking, Redraw
Bank of Sydney	Expect More Home Loan Owner Occupied	6.64%	6.79%	$3,848	-	Digital banking, Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Variable	6.64%	6.69%	$3,848	-	Offset, Redraw
Cairns Bank	PLUS HOME LOAN VARIABLE 60-80 LVR PI	6.64%	6.32%	$3,848	-	Redraw, Offset
Bank Australia	Basic Home Loan	6.64%	6.64%	$3,848	-	Digital banking, Redraw
Bank Australia	Offset Home Loan	6.64%	6.82%	$3,848	-	Digital banking, Offset, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (80.01-90.00% LVR)	6.64%	6.64%	$3,848	-	Redraw, Digital banking, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR<80%	6.69%	6.85%	$3,868	-	PayID, Digital banking, Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR<80%	6.69%	6.51%	$3,868	-	Offset, PayID, Digital banking, Redraw
NAB	NAB Base Variable Rate Home Loan	6.69%	6.69%	$3,868	-	Redraw, Digital banking
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan Variable PI Owner Occupied	6.69%	7.03%	$3,868	-	Redraw, Offset, Digital banking
RACQ Bank	Fair Dinkum Home Loan	6.69%	6.69%	$3,868	-	Digital banking, NPP
Liberty Financial	Low rate home loan	6.74%	6.82%	$3,888	-	Redraw
TRANSPORT MUTUAL CREDIT UNION LTD	STANDARD VARIABLE LOAN	6.74%	6.84%	$3,888	-	Redraw, Offset
Defence Bank Limited	Premier Low Rate	6.74%	6.74%	$3,888	-	Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE 80-90 LVR PI	6.74%	6.20%	$3,888	-	Redraw
HUME BANK LIMITED	liteBlue O/Occ I/O(up to 60% LVR)	6.74%	6.48%	$3,888	-	Digital banking, Redraw
Community First Credit Union	Community Advantage Variable Owner Occupied (Principal and Interest)	6.79%	6.84%	$3,908	-	Redraw
Qudos Bank	Construction Home Loan	6.79%	6.65%	$3,908	-
RACQ Bank	Mortgage Saver Home Loan	6.79%	6.83%	$3,908	-	Digital banking, NPP, Redraw
Bank of Queensland	Clear Path Variable Home Loan	6.84%	6.96%	$3,928	-	Offset, Redraw
Liberty Financial	Debt consolidation home loan	6.84%	7.11%	$3,928	-	Offset, Redraw
Liberty Financial	Flexible home loan	6.84%	7.11%	$3,928	-	Offset, Redraw
Bank First Production	Basic Home Loan Variable LVR 80-90%	6.84%	6.89%	$3,928	-	Redraw, PayID, Digital banking
Defence Bank Limited	Premier Home Loan	6.84%	6.84%	$3,928	-	Offset, Redraw
Defence Bank Limited	Ultimate Essentials Construction (INV)	6.84%	6.93%	$3,928	-	Offset, Digital banking, Redraw
AMP - My AMP	Equity Flex	6.84%	7.15%	$3,928	-	Redraw, Offset, Digital wallet, Digital banking
Cairns Bank	PLUS HOME LOAN VARIABLE 80-90 LVR PI	6.84%	6.51%	$3,928	-	Redraw, Offset
HUME BANK LIMITED	liteBlue O/Occ I/O (60%-80% LVR)	6.84%	6.58%	$3,928	-	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (up to 60% LVR)	6.84%	6.56%	$3,928	-	Redraw, Digital banking, Offset
HORIZON BANK	Home Sweet Home Loan	6.89%	7.12%	$3,948	-	Redraw, Digital banking, NPP, Offset
IMB Bank	Essentials Home Loan	6.89%	7.00%	$3,948	-	Offset, Digital banking, Redraw
IMB Bank	Budget Home Loan	6.89%	6.95%	$3,948	-	Digital banking, Redraw
AMB Bank Product	DHOAS Construction Loan	6.89%	6.92%	$3,948	-
AMB Bank Product	DHOAS Rate Saver Home Loan	6.89%	6.92%	$3,948	-	Redraw
RACQ Bank	Mortgage Breaker Owner Occupied	6.89%	6.93%	$3,948	-	NPP, Digital banking, Offset, Redraw
Bank of us	TOPLINE RES. INV. LOAN	6.94%	7.01%	$3,968	-	NPP, Redraw, Digital banking, Offset
THE CAPRICORNIAN	Lifestyle Home Loan	6.94%	6.99%	$3,968	-	Offset, PayID, NPP, Digital banking, Redraw
St. George Bank	Basic Variable Home Loan	6.94%	6.95%	$3,968	-	Redraw, Digital banking
Bank of Melbourne	Basic Variable Home Loan	6.94%	6.95%	$3,968	-	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Variable LVR >80% <90%	6.94%	6.99%	$3,968	-	Offset, PayID, Digital banking, Redraw
BankSA	Basic Variable Home Loan	6.94%	6.95%	$3,968	-	Redraw, Digital banking
POLICE CREDIT UNION LIMITED	Better Home Loan 80% LVR - Owner Occupied	6.94%	7.01%	$3,968	-	Digital banking, NPP, PayID, Redraw, Offset
POLICE CREDIT UNION LIMITED	Better Home Loan 90% LVR - Owner Occupied	6.94%	7.01%	$3,968	-	Digital banking, NPP, PayID, Redraw, Offset
QBANK	Classic Home Loan	6.94%	6.96%	$3,968	-	Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE >90 LVR PI	6.94%	6.40%	$3,968	-	Redraw
HUME BANK LIMITED	liteBlue O/Occ P+I (90%-95% LVR)	6.94%	6.95%	$3,968	-	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (60.01 - 80.00% LVR)	6.94%	6.66%	$3,968	-	Redraw, Digital banking, Offset
Newcastle Permanent	Real Deal Home Loan Principal and Interest	6.99%	7.03%	$3,988	-	Redraw, Digital banking
MACARTHUR CREDIT UNION LTD	LOW LVR OOC P&I	6.99%	7.06%	$3,988	-	Redraw
AMB Bank Product	Construction Loan	6.99%	7.02%	$3,988	-
AMB Bank Product	RateSaver Home Loan	6.99%	7.02%	$3,988	-	Redraw
CENTRAL WEST CREDIT UNION LTD	Minimiser Home Loan	7.04%	7.10%	$4,008	-	Redraw, Digital banking
Defence Bank Limited	Ultimate Essentials I/O Con	7.04%	7.13%	$4,008	-	Offset, Digital banking
QBANK	Classic Plus Home Loan	7.04%	7.31%	$4,008	-	Offset, Redraw
Defence Bank Limited	Ultimate Essentials Variable	7.04%	7.13%	$4,008	-	Digital banking, Offset, Redraw
AMB Bank Product	DHOAS Value Home Loan	7.04%	7.07%	$4,008	-	Offset, Redraw
AMB Bank Product	DHOAS Standard Variable Home Loan	7.04%	7.07%	$4,008	-	Redraw, Offset
AMP - My AMP	AMP Essential Home Loan	7.04%	7.07%	$4,008	-	Redraw
Cairns Bank	PLUS HOME LOAN VARIABLE >90 PI	7.04%	6.71%	$4,008	-	Redraw, Offset
HUME BANK LIMITED	liteBlue O/Occ I/O (80%-90% LVR)	7.04%	6.78%	$4,008	-	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (90.01 -95.00% LVR)	7.04%	7.04%	$4,008	-	Redraw, Digital banking, Offset
Westpac	Flexi First: Our lowest online variable home loan rate (Owner Occupied)	7.09%	7.10%	$4,028	-	Redraw, Digital banking
Bank of us	FLEXICHOICE HOME LOAN	7.11%	7.32%	$4,036	-	NPP, Redraw, Digital banking, Offset
NRMA Insurance	NRMA Offset Home Loan	7.13%	7.33%	$4,044	-	Offset, Redraw
Bendigo Bank	Bendigo Complete Home Loan	7.13%	7.35%	$4,044	-	Offset, Redraw
Bendigo Bank	Bendigo Flex Home Loan	7.13%	7.30%	$4,044	-	Offset, Redraw
Bendigo Bank	Bendigo Flex Home Loan (Retail)	7.13%	7.33%	$4,044	-	Offset, Redraw
Defence Bank Limited	Ultimate Essentials I/O	7.14%	7.23%	$4,048	-	Offset, Digital banking
Tiimely	Tiimely Offset Home Loan	7.14%	7.30%	$4,048	-	Offset, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (80.01-90.00% LVR)	7.14%	6.86%	$4,048	-	Redraw, Digital banking, Offset
CENTRAL WEST CREDIT UNION LTD	Smart Home Loan	7.15%	7.21%	$4,052	-	Redraw, Offset, Digital banking
CENTRAL WEST CREDIT UNION LTD	Smart Fixed Rate Home Loan 2 year	7.15%	7.15%	$4,052	-	Digital banking, Redraw
CENTRAL WEST CREDIT UNION LTD	Smart Fixed Rate Home Loan 1 year	7.15%	7.15%	$4,052	-	Digital banking, Redraw
Health Professionals Bank	Your Way Plus Home Loan	7.19%	7.48%	$4,069	-	Redraw, Digital banking, Offset
Health Professionals Bank	Your Way Home Loan	7.19%	7.26%	$4,069	-	Redraw, Digital banking
Regional Australia Bank	Regional Australia Bank Home Loan (Non Offset)	7.19%	7.22%	$4,069	-	Redraw
UniBank	Your Way Plus Home Loan	7.19%	7.48%	$4,069	-	Redraw, Digital banking, Offset
UniBank	Your Way Home Loan	7.19%	7.26%	$4,069	-	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR 80-90%	7.19%	7.02%	$4,069	-	Offset, PayID, Digital banking, Redraw
AMB Bank Product	Standard Variable Home Loan	7.19%	7.23%	$4,069	-	Redraw, Offset
AMB Bank Product	Value Home Loan	7.19%	7.23%	$4,069	-	Offset, Redraw
BankWAW	Flexible Choice Owner Occupied	7.24%	7.29%	$4,089	-	Redraw, Offset
Liberty Financial	Low doc home loan	7.24%	7.51%	$4,089	-	Redraw, Offset
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest	7.24%	7.30%	$4,089	-	Offset, Redraw
AMP - My AMP	AMP Superedge Loan	7.24%	7.61%	$4,089	-	Offset, Digital wallet, Digital banking
Credit Union SA	Variable Home Loan Package Principal and Interest	7.24%	7.59%	$4,089	-	Redraw, Offset, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR >80% <90%	7.28%	7.65%	$4,105	-	PayID, Redraw, Digital banking, Offset
Qantas Money	QANTAS Money Offset Home Loan	7.28%	7.50%	$4,105	-	Offset, Redraw
MACARTHUR CREDIT UNION LTD	LOW LVR INV P&I HOME LOAN	7.29%	7.36%	$4,109	-	Redraw
Bank First Production	Basic Home Loan Variable LVR>90%	7.29%	7.34%	$4,109	-	Redraw, PayID, Digital banking
Credit Union SA	Discounted Variable Rate Home Loan Principal and Interest	7.29%	7.32%	$4,109	-	Redraw, Digital banking
ANZ	ANZ Simplicity PLUS	7.34%	7.34%	$4,130	-	Digital banking, Redraw
Macquarie	Macquarie Offset Home Loan	7.34%	7.58%	$4,130	-	Offset, Digital banking, Redraw
Macquarie	Macquarie Basic Home Loan	7.34%	7.37%	$4,130	-	Redraw, Digital banking
Newcastle Permanent	Premium Plus Package Variable Home Loan Principal and Interest	7.35%	7.67%	$4,134	-	Digital banking, Offset, Redraw
Aussie Home Loans	Aussie Elevate Offset Home Loan	7.39%	7.56%	$4,150	-	Offset, Redraw
ME Bank	ME Bank CompleteME Home Loan	7.39%	7.75%	$4,150	-	Offset, Digital banking, Redraw
Liberty Financial	Fresh start home loan	7.39%	7.73%	$4,150	-	Redraw
Bank First Production	Complete Home Loan Owner Occupied Variable LVR >90%	7.39%	7.44%	$4,150	-	Digital banking, Redraw, PayID, Offset
Connective Select Home Loans	Connective Select Offset Home Loan	7.39%	7.56%	$4,150	-	Offset, Redraw
BNK Bank (Goldfields Money/BCHL)	Prime Alt Doc Jumbo (BNK)	7.39%	7.46%	$4,150	-	Offset, Digital banking, Redraw
AFG Home Loans Alpha	AFG Alpha Offset Home Loan	7.39%	7.56%	$4,150	-	Offset, Redraw
Regional Australia Bank	Regional Australia Bank Home Loan (Offset)	7.40%	7.43%	$4,154	-	Offset, Redraw
UniBank	Your Way Home Loan	7.44%	7.36%	$4,171	-	Redraw, Digital banking
THE CAPRICORNIAN	Premium Choice Home Loan	7.45%	7.50%	$4,175	-	PayID, NPP, Digital banking, Offset, Redraw
ANZ	ANZ Standard Variable home loan	7.49%	7.49%	$4,191	-	Digital banking, Redraw, Offset
Credit Union SA	Standard Variable Rate Home Loan Principal and Interest	7.49%	7.54%	$4,191	-	Offset, Redraw
AMP - My AMP	Professional Package	7.52%	7.92%	$4,204	-	Redraw, Offset, Digital wallet, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR 80-90%	7.53%	7.68%	$4,208	-	Offset, PayID, Digital banking, Redraw
My State PM Production	Basic Variable Loan	7.54%	7.57%	$4,212	-	Redraw, Digital banking
My State PM Production	Special Residential Variable Loan	7.54%	7.59%	$4,212	-	Digital banking, Offset, Redraw
HUME BANK LIMITED	liteBlue O/Occ I/O (90%-95% LVR)	7.54%	7.23%	$4,212	-	Digital banking, Redraw
CENTRAL WEST CREDIT UNION LTD	Mortgage Equity Loan	7.60%	9.02%	$4,236	-	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR>90%	7.64%	7.47%	$4,253	-	PayID, Digital banking, Redraw, Offset
HUME BANK LIMITED	myBlue Variable O/Occ I/O (90.01 -95.00% LVR)	7.64%	7.31%	$4,253	-	Redraw, Digital banking, Offset
NORTHERN INLAND CREDIT UNION LTD.	Smart Home Loan Variable	7.69%	7.86%	$4,274	-	Redraw, Offset, Digital banking
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interst - Principal and Interest - LVR > 80%	7.74%	7.81%	$4,294	-	Offset, Redraw
POLICE CREDIT UNION LIMITED	Standard Variable Home Loan 80% LVR - Owner Occupied	7.74%	7.81%	$4,294	-	Offset, Redraw, NPP
POLICE CREDIT UNION LIMITED	Standard Variable Home Loan 90% LVR - Owner Occupied	7.74%	7.81%	$4,294	-	NPP, Offset, Redraw
TRANSPORT MUTUAL CREDIT UNION LTD	HOME EQUITY LOAN	7.74%	7.85%	$4,294	-	Redraw
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR >90%	7.78%	8.15%	$4,311	-	Redraw, Offset, PayID, Digital banking
Bank of Queensland	BOQ Essential Home Loan	7.82%	7.84%	$4,328	-	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I >750K	7.87%	7.94%	$4,348	-	Redraw, Digital banking, PayID, NPP
Greater Bank	Ultimate Packaged Home Loan - Variable Owner Occupied	7.91%	8.26%	$4,365	-	Digital banking, Redraw, Offset
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I 500K TO 750K	7.97%	8.04%	$4,390	-	Redraw, Digital banking, PayID, NPP
CommBank	Standard Variable Rate Home Loan (Owner Occupied)	7.99%	8.35%	$4,398	-	Redraw, Offset, Digital banking
CommBank	Simple Home Loan (Owner Occupied)	7.99%	8.13%	$4,398	-	Redraw, Offset, Digital banking
Virgin Money Australia	Virgin Money Lite Home Loan	8.02%	8.04%	$4,411	-	Digital banking, Redraw
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR>90%	8.03%	8.17%	$4,415	-	PayID, Redraw, Offset, Digital banking
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I 250K TO 500K	8.07%	8.14%	$4,432	-	Redraw, Digital banking, PayID, NPP
THE CAPRICORNIAN	Access Equity Home Loan	8.09%	8.14%	$4,440	-	PayID, NPP, Digital banking, Redraw
BNK Bank (Goldfields Money/BCHL)	Prime Alt Doc (BNK)	8.09%	8.17%	$4,440	-	Offset, Digital banking, Redraw
Greater Bank	Great Rate Home Loan - Variable Owner Occupied	8.11%	8.12%	$4,449	-	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I	8.17%	8.24%	$4,474	-	Redraw, Digital banking, PayID, NPP
MACARTHUR CREDIT UNION LTD	MORTGAGE OFFSET OWNER OCCUPIED P&I	8.17%	8.24%	$4,474	-	Redraw, Digital banking, NPP, PayID, Offset
AMP - My AMP	Land Loan	8.20%	8.26%	$4,487	-	Redraw, Digital banking
BOQ Specialist	Basic Home Loan	8.27%	8.45%	$4,516	-	Redraw
HORIZON BANK	HANDYLOAN	8.39%	8.39%	$4,567	-	Digital banking, PayID, NPP, Digital wallet
Virgin Money Australia	Virgin Money Loaded Home Loan	8.41%	8.68%	$4,575	-	Offset, Digital banking, Redraw
Bank of Queensland	BOQ Plus Home Loan	8.49%	8.76%	$4,609	-	Digital banking, Redraw
My State PM Production	Standard Variable Loan	8.62%	8.68%	$4,665	-	Digital banking, Offset, Redraw
Bank of China	Standard Variable Rate Home Loan	8.64%	8.71%	$4,673	-	Redraw, Digital banking
BNK Bank (Goldfields Money/BCHL)	Gold Prime Residential Special Home Loans	8.64%	8.67%	$4,673	-	Offset, Redraw, Digital banking
The Mutual Bank	Express Credit Facility	8.89%	8.89%	$4,780	-	PayID, NPP, Digital banking, Digital wallet
ANZ Plus	ANZ Plus Home Loan Variable	8.89%	8.89%	$4,780	-	Redraw, Offset, Digital banking
Judo Bank	Home Loan	8.90%	8.92%	$4,785	-	Redraw
Westpac	Premium Options Home Loan	9.08%	9.08%	$4,862	-	Redraw
Liberty Financial	Low deposit home loan	9.14%	9.89%	$4,888	-	Offset, Redraw
IMB Bank	Standard Variable Home Loan	9.21%	9.28%	$4,919	-	Offset, Digital banking, Redraw
THE CAPRICORNIAN	Mortgage Plus Home Loan	9.23%	9.23%	$4,927	-	Digital banking, Digital wallet, PayID, NPP
Bank of Melbourne	Variable Home Loan with Offset	9.34%	9.48%	$4,975	-	Offset, Redraw, Digital banking
BankSA	Variable Home Loan with Offset	9.35%	9.49%	$4,980	-	Offset, Redraw, Digital banking
St. George Bank	Variable Home Loan with Offset	9.36%	9.50%	$4,984	-	Offset, Redraw, Digital banking
Westpac	Rocket Loan: Variable Home Loan with Offset (Owner Occupied)	9.38%	9.52%	$4,993	-	Redraw, Offset, Digital banking
UNITY BANK	Retirees Access Home Loan	9.50%	9.60%	$5,045	-	Redraw, PayID, NPP, Digital banking
Arab Bank Australia Ltd Prod	The Basics Home Loan	9.54%	9.67%	$5,063	-	Redraw, Digital banking
Arab Bank Australia Ltd Prod	Basics Home Loan Special Offer	9.54%	9.67%	$5,063	-	Digital banking, Redraw
Bank of Melbourne	Relocation Loan without end	9.63%	9.45%	$5,102	-
Bank of Melbourne	Relocation Loan with end	9.63%	9.45%	$5,102	-
Arab Bank Australia Ltd Prod	Essentials Home Loan Special Offer	9.64%	9.69%	$5,107	-	Digital banking, Redraw, Offset
Arab Bank Australia Ltd Prod	Essentials Home Loan	9.64%	9.69%	$5,107	-	Redraw, Digital banking, Offset
BankSA	Relocation Loan with end	9.64%	9.46%	$5,107	-
BankSA	Relocation Loan without end	9.64%	9.46%	$5,107	-
St. George Bank	Relocation Loan without end	9.65%	9.47%	$5,111	-
St. George Bank	Relocation Loan with end	9.65%	9.47%	$5,111	-
BOQ Specialist	Plus Home Loan	9.69%	9.69%	$5,129	-
BOQ Specialist	Home Loan Banking Package	9.87%	10.33%	$5,208	-
A-Auswide Bank	HOME LOAN PLUS	10.01%	10.17%	$5,270	-	Offset, Redraw, NPP, PayID
NAB	NAB FlexiPlus Mortgage	10.36%	10.36%	$5,426	-	Digital banking
Bank of Sydney	Home Equity Maximiser Owner Occupied	11.90%	11.90%	$6,126	-	Digital banking

Rates are indicative and based on an owner-occupier loan of $600,000 at 80% LVR, principal and interest, 30-year term. Broadly available products only - loans restricted to particular professions, first home buyers or government schemes are excluded; each lender's eligibility criteria still apply and the lowest rate may not be available to you. Comparison rates calculated on $150,000 over 25 years. "Lowest" = the lowest rate on our live CDR feed at the time of viewing, across the lenders we display, excluding products restricted to particular professions, first home buyers or government schemes. Each lender's eligibility criteria still apply and the lowest rate may not be available to you. Rates update daily and not all lenders are included, so other products may be lower. Source: Consumer Data Right (CDR), lender websites. Last updated: 2 November 2026. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Refinance savings: On a $600,000 loan with 25 years remaining, cutting your rate by 0.60% saves approximately $210/month - around $63,000 over the remaining term, easily dwarfing typical switching costs.

0 lenders included

Live CDR rates

Refinance and save up to $1,358/year*

Compare your current rate against the lowest variable refinance rate on our live Consumer Data Right feed - 5.93% p.a. across 70+ Australian lenders.

60 second enquiry, no credit check
We refer your enquiry to our accredited broker partner
Free service, no obligation

*Illustrative only. Based on a $650,000 loan over 30 years moving from 6.20% (RBA average rate on outstanding owner-occupier variable loans, August 2026) to 5.93%, the lowest broadly available variable rate on our CDR feed. Lender eligibility criteria apply and it may not be available to you. Annual difference in principal and interest repayments (paid monthly), before fees and switching costs - not a projection over the loan term. Actual savings depend on your loan details and lender assessment. Switching costs (discharge fees, application fees, valuation) typically total $300 to $1,000.

Refinance Calculators

Calculate your break-even period and compare whether a cashback deal or lower rate saves you more.

Break-Even Calculator

How long until your savings exceed switching costs?

Current rate (%)

New rate (%)

Loan balance

Estimated switching costs

Cashback vs. Lower Rate

Which saves more over time?

Loan amount

Option A: Lower rate (%)

Option B: Higher rate + cashback (%)

Cashback amount

Compare Refinance Rates from Leading Lenders

We compare refinance rates from Australia's biggest banks, credit unions, and online lenders.

+ many more

The find.deals™ difference

Your old rate could be costing you thousands.

Lenders fight harder for refinancers than new customers. Compare 70+ lenders side by side and see exactly how much you'd save by switching - in minutes.

Which Lenders Offer Cashback for Refinancing?

Cashback offers are tempting but not always the best deal. A $4,000 cashback on a loan priced 0.25% higher costs more than a $0 cashback at the lower rate beyond 3.2 years on a $500,000 loan. Always compare the total cost of the loan - not just the upfront incentive.

No major-lender cashback campaigns are running right now. A lower rate almost always beats a one-off cashback over 3+ years anyway - run the break-even calculator to see the difference on your loan.

Cashback offers stack the deal: Several lenders currently pay $2,000-$4,000 cashback on eligible refinances over $250k. That typically covers discharge, valuation and government fees in full - and often leaves $1,500+ in your pocket on top of the rate savings.

Cashback offers current as of September 2026. Subject to change. Always confirm directly with the lender before applying.

What Does It Actually Cost to Refinance?

Typical total switching costs range from $700-$2,000 for most refinancers. Fixed-rate borrowers may face significant break costs. Many online lenders waive application and valuation fees to attract switchers.

Fee	Typical Range	Notes
Discharge fee (current lender)	$150-$400	Charged by your existing lender to release the mortgage
Application fee (new lender)	$0-$600	Many online lenders waive this for refinancers
Valuation fee	$200-$600	Property valuation required by new lender; some waive for low LVR
Legal / conveyancing	$200-$500	Solicitor or conveyancer to handle settlement
Mortgage registration (state)	$100-$250	Varies by state - see breakdown below
Break costs (fixed loans only)	Varies	Can be $0-$20,000+ depending on rate differential and remaining term
LMI (if LVR increases)	$0-$15,000+	Only if new LVR exceeds 80% and original LMI is not transferable

Discharge fee (current lender) $150-$400

Charged by your existing lender to release the mortgage

Application fee (new lender) $0-$600

Many online lenders waive this for refinancers

Valuation fee $200-$600

Property valuation required by new lender; some waive for low LVR

Legal / conveyancing $200-$500

Solicitor or conveyancer to handle settlement

Mortgage registration (state) $100-$250

Varies by state - see breakdown below

Break costs (fixed loans only) Varies

Can be $0-$20,000+ depending on rate differential and remaining term

LMI (if LVR increases) $0-$15,000+

Only if new LVR exceeds 80% and original LMI is not transferable

Mortgage Registration Fees by State

NSW

$154

VIC

$120

QLD

$198

$175

$181

TAS

$140

ACT

$148

$156

Fees current as of September 2026. Source: State land titles offices, APRA Quarterly ADI Statistics.

Break-even snapshot: If your new rate is 0.5% lower and total switching costs are $1,500, you typically break even in 6-8 months on a $600K loan. Factor in cashback offers of $2,000-$4,000 from major lenders and many refinancers come out ahead within year one.

Refinancing for Owner-Occupied vs Investment Properties

Factor	Owner-Occupied	Investment
Typical rates	6.39%-7.39%	typically 0.25-0.65% above owner-occupied
Rate premium	Base rate	+0.25%-0.50% above owner-occupier
Tax deductibility	Not deductible (primary residence)	Interest is tax-deductible
APRA risk weighting	Lower (less capital required)	Higher (more capital, tighter criteria)
Max LVR (most lenders)	95% (with LMI)	90% (with LMI), 80% preferred
Documentation	Standard income verification	+ rental income evidence, lease agreement
Refinancing tip	Focus on lowest rate and features you need	Ensure new loan structure preserves tax deductibility

Owner-Occupied

Rates: 6.39%-7.39%
Tax deductible: No
Max LVR: 95%

Investment

Rates: +0.25-0.65% vs owner-occ
Tax deductible: Yes (interest)
Max LVR: 90%

Investment loan margin over owner-occupied based on principal and interest repayments at 80% LVR. Source: APRA Quarterly ADI Statistics, RBA F6 Lending Rates - refer to the latest release for current figures.

How Many Australians Are Refinancing Right Now?

Refinancing Volumes

Annual refinances (year to Sept 2025): 618,966
External refinances (new lender): ~60%
Internal refinances (same lender): ~40%
Monthly average: ~51,580

Source: ABS Lending Indicators, September 2025

Who's Refinancing?

Owner-occupiers: ~68% of volume
Investors: ~32% of volume
Average loan size (refinance): $518,000
Largest state (NSW): ~33% of refinances

Source: ABS Lending Indicators, APRA ADI Statistics

How Does the RBA Rate Affect Your Refinancing Decision?

The RBA cash rate is 4.60% as of September 2026, up from 4.35% in August 2026. Lenders have passed on recent increases unevenly, so what new and existing customers pay can differ noticeably. Variable rate borrowers who haven't reviewed their loan recently may be paying 0.25-0.75% more than the best available rates.

Rates are rising

The RBA has lifted the cash rate in the current tightening cycle. Variable rates typically adjust within 2-4 weeks of an RBA move, and lenders rarely pass on changes evenly. Comparing now captures the gap between your rate and the best available.

Fixed vs variable gap

With variable rates currently lower than fixed, a variable loan is cheaper today but moves with each RBA decision. The gap between fixed and variable pricing is one of the clearest signals of where the market expects rates to head next.

Fixed-rate cliff

Hundreds of thousands of borrowers who fixed at 2-3% in 2021-2022 have now reverted to variable rates of 6%+. If you're one of them, refinancing to the best variable rate is critical.

Refinancing for Your Situation

Bad Credit Refinancing

Non-conforming lenders like Pepper, Liberty, and La Trobe Financial accept borrowers with defaults, late payments, or low credit scores. Expect rates 1-3% higher and 20%+ equity requirements. Improve your credit score before applying to reduce costs significantly.

Self-Employed Refinancing

Standard lenders require 2 years of tax returns and business financials. Low-doc options from Pepper, Liberty, and La Trobe accept 6-12 months of business bank statements. Self-employed borrowers typically pay 0.1-0.3% more. Athena and Macquarie are increasingly flexible for ABN holders.

Digital Refinancing

Unloan (CommBank-backed) offers 10-minute applications with rates from 5.93% (6.28% comparison rate*). Athena uses automated valuation and income verification. Macquarie's digital refinance offers fast online processing with same-day pre-approvals. Digital lenders typically offer lower rates due to reduced overheads, but limited branch support.

Cash-Out Refinancing

Access your property equity by borrowing more than your current loan balance. Most lenders allow cash-out up to 80% LVR. Use for renovations, investment, or debt consolidation. On an $800,000 property, up to $640,000 minus your current balance. Rates may differ slightly for cash-out refinances.

How to Refinance: Step-by-Step

The typical refinancing process takes 2-6 weeks from application to settlement.

Review your current loan

Day 1

Check your interest rate, remaining balance, loan features, and any exit fees. Log in to your lender portal or call them to confirm your current comparison rate and any fixed-rate expiry dates.

Calculate your potential savings

Day 1-2

Use the break-even calculator above to compare your current rate against the best available rates. Factor in all switching costs to determine if refinancing makes financial sense for your situation.

Compare refinance options

Day 2-5

Compare rates, features, cashback offers, and fees from multiple lenders. Consider whether you need an offset account, redraw facility, or the flexibility of a variable rate versus the certainty of fixed.

Apply with your chosen lender

Week 1-2

Submit your application with required documents: 2 recent payslips, 3 months bank statements, current loan statement, and ID. Many digital lenders offer pre-approval within 24 hours.

Valuation and approval

Week 2-4

Your new lender arranges a property valuation (sometimes a desktop valuation is sufficient). Once valued, the lender issues conditional then unconditional approval. Processing times vary by lender.

Settlement

Week 4-6

Your new lender pays out your old loan and registers the new mortgage. Your old lender processes the discharge. You begin repayments on the new loan from the settlement date.

618,966

Australians refinanced (year to Sept 2025)

Source: ABS Lending Indicators

0.58%

Extra rate paid by loans 3-5 years old vs new loans (2020 finding)

Source: ACCC Home Loan Price Inquiry, final report, Dec 2020

2-6 weeks

Typical refinancing timeline

Source: Major lender averages

Compare Home Loan Refinance by State

Explore state-specific refinance rates, government fees and switching costs across Australia.

Australian Capital Territory

Northern Territory

Frequently Asked Questions

Everything you need to know about refinancing your home loan in Australia.

Refinancing Basics

How much could I save by refinancing?

What is a break-even period for refinancing?

What's the difference between refinancing and renegotiating?

How often should I review my home loan?

Costs & Fees

What fees do I pay when switching home loans?

What is a discharge fee?

Do I pay stamp duty when refinancing?

Can I refinance a fixed-rate home loan?

Are cashback refinance deals worth it?

Eligibility & Requirements

How much equity do I need to refinance?

What documents do I need to refinance?

Can I refinance with bad credit?

Can I refinance if I'm self-employed?

What credit score do I need to refinance?

Types & Strategies

Can I refinance an investment property?

Should I refinance to a fixed or variable rate?

Can I access equity when refinancing?

Should I use a broker to refinance?

How long does refinancing take?

Market & Timing

What is a comparison rate for refinancing?

How does the RBA cash rate affect my refinancing decision?

Last updated: 11 September 2026. Information is general in nature and not financial advice. Consider seeking independent financial advice for your situation.

Related Guides & Tools

Complete Refinance Guide

Everything you need to know about refinancing your home loan.

Home Loans Comparison

Compare home loan rates from 70+ Australian lenders.

Home Loan Guide

Complete guide to home loans in Australia.

More Comparisons

Home Loans

Green Home Loans

First Home Buyers

Personal Loans

Green Loans

Car Loans

Ready to compare?

Start your enquiry today.

find.deals™ refers your enquiry to our accredited broker partner (an authorised credit representative under an Australian Credit Licence). find.deals™ charges you nothing; the broker provides any credit assistance and will tell you about any fee before you proceed.