The loan no longer matched their life.
The couple had retained a redraw facility they had not used for years. The product and rate had drifted well away from what they now needed: a straightforward structure that was easy to manage as retirement approached.
Strip out complexity, then compare suitable options.
Confirmed the existing rate, features and account use.
Established that redraw complexity was no longer useful.
Compared flexible major-bank options that suited the verified position.
Aligned the accounts to their expected cash-flow needs.
A sharper rate and a structure they could understand.
The refinance moved the loan to a rate in the high 5% range at the time and reduced estimated annual interest by more than $7,500. It also removed features the couple did not value and left them with simpler day-to-day accounts.
Rates and savings are historical and specific to this client. Refinancing costs, remaining term and product differences must be considered before changing loans.
A home loan should be reviewed as your circumstances change.
- 01Rate is only one part.
Useful features, fees and the remaining term also affect the comparison.
- 02Unused features can add complexity.
A simpler loan may better suit the next phase of life.
- 03Do the whole-cost check.
Switching costs and any longer loan term can change the long-term result.
Start with your current loan.
Understand the review process, costs and structure decisions.
Explore refinancing →See how the team approaches buying, refinancing and future plans.
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