Whether you're looking to upsize, downsize, invest, renovate or simply just looking for a better deal, you might consider switching to a loan that could help you achieve your goal faster.

 

Why Refinance Your Loan With Qudos Bank?

From potentially lowering your monthly repayments to securing lower interest rates and paying off your loan quicker, there are many reasons to consider home refinance loans. At Qudos Bank, we have many home loan refinance offers that could suit your unique circumstances and goals, including switching from a variable home loan to a fixed home loan or vice versa.

Home loan refinancing from a variable to a fixed rate is generally a more popular option. Reasons for making this change often include the stability of knowing the exact periodic repayment amount for better budgeting and the comfort of having the same rate even if interest rates increase during the fixed period.

However, switching from a fixed to a variable home refinance loan may also have benefits, too. If interest rates have fallen below your fixed rate, switching to a variable home loan with a lower interest rate could mean having more money on hand and repaying your loan sooner. However, break costs generally apply so it’s important to check the costs involved in breaking your fixed loan, as these can be significant

As a multi-award winning and 100% customer-owned bank, Qudos Bank is here to help you find the right home loan refinance offer. Learn about some of the reasons why our customers choose our home refinance loans below or get in touch with our team for guidance on choosing the most suitable new home loan for your needs.


Home Loans for Refinancing

At Qudos Bank, we’re proud to offer a wide range of loan refinance offers. Whether you’re wanting to lock in an interest rate and enjoy the stability of the same repayment amount (with our fixed rate loans) or enjoy more flexible loan features, you could find a home loan refinance offer to suit your needs.

If you’re looking to take advantage of interest rates that may change over time, we have various variable home loan offers to choose from. Our No Frills Home Loan and Low Cost Home Loan, for example, don’t only offer low interest rates but also very attractive features including no bank fees and unlimited extra repayments.

For those interested in fixed loan refinance offers, our Fixed Rate Home Loans offer you the ability to tailor the fixed loan term between one and five years (reverting the variable after the fixed period). Our Fixed Rate Home Loans have no bank fees and extra repayments of up to $10,000 per year.

If you’re looking for flexibility, you could consider splitting your loan between fixed and variable. Speak with our Lending Specialists for more information about split loans.

Browse the options below for more information or view our full loans page to see more.

T&Cs, fees, charges and lending criteria apply. The rates displayed above apply to applications for new owner-occupied home loans for loan amounts over $150,000 received from 17 November 2022 with principal and interest repayments. Investment loans, interest only repayments and deposits of less than these amounts are available for some loans (subject to approval). Different interest rates apply. Contact us for more details.

Things to consider before refinancing a home loan

Before you decide to make the switch and refinance your home loan, it’s generally a good idea to consider the following:

  • Compare interest rates — Consider the best interest rates within one bank or lender as well as between other ones, then compare them to your current loan rates.

  • Determine your equity — Particularly if you want to avoid lenders' mortgage insurance (LMI), you’ll generally need to have at least a 20% deposit.

  • Determine the costs of refinancing — Depending on the lender you choose, you may be required to pay break fees (for fixed rate loans).You may also have to pay costs associated with obtaining a new loan, such as application, valuation and establishment costs and fees.

  • Be clear on your reasons for refinancing — Whether you’re looking to refinance your home loan because you want a better interest rate, you need to access equity or to consolidate debt, your reason for doing so could help you choose the best offer for your situation.

Switch to an award-winning mutual bank

canstar-2022-outstanding-value-fixed-home-lender
mozo-experts-choice-fixed-rate-home-loan mozo-2020-2021

We've received Canstar’s Outstanding Value Fixed Home Lender award for a second year running and Mozo's Experts Choice Award 2022 for the Fixed Rate Home Loan and Split Home Loan categories.

We're also proud to have been named Australia's Best Large Mutual Bank three years running by Mozo!

If you're thinking about home loan refinancing, consider making the switch to 100% customer-owned banking. Qudos Bank is not only a multi-award winning bank, but also a mutual one. Unlike the Big 4, we return profits to customers through better rates and low to no fees.

Enquire now about switching to our refinance home loans.

 

 

Watch! 

Refinancing Explained

Here is everything you need to know about refinancing such as the benefits, misconceptions and what the process looks like.

Helpful tips for refinancing

Different types of home loans

Understand your options when choosing between fixed, variable and split home loans.

What is a split loan?

Discover how a split loan could suit your needs by offering both fixed and variable loan options.

Fixed vs variable home loan

Find out the key difference between these two types of loans, so you can find a home loan that suits you.

Benefit of home loan offsets

Multiple offset accounts can be used to reduce the interest on your home loan.

Refinancing your home loan

There are many reasons to consider refinancing including getting helpful features that could help you save.

Applying for a home loan

Apply online, visit a branch or speak to a Lending Specialist to help guide you through the process.

Next steps

Footnotes:

  • 1 Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for applications received from 17 November 2022 for loan amounts over $150,000. Minimum deposit of 20%. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the variable rate reverts to the interest rate applicable to a new principal and interest No Frills Home Loan with a deposit or equity of 20% or more, currently 4.34% for owner occupied loans and 4.84% for investment loans. Interest only available for 1 to 5 years and is subject to approval.
  • 2 WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Our comparison rate assumes a loan of $150,000 for 25 years. For interest only loans, the comparison rate is based on a 5-year interest only period, reverting to the interest rate applicable to a principal and interest loan with a deposit of 20% or more for the relevant purpose.
  • 3 Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for applications received from 17 November 2022​​ for loan amounts over $150,000. Minimum deposit of 10%. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the variable rate reverts to the interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more, currently 4.74% for owner occupied loans and 5.04% for investment loans. Interest only available for 1 to 5 years and is subject to approval.
  • 4 Rates displayed above are available for applications received from 17 November 2022​​ for loan amounts over $150,000. Minimum deposit of 10%. Fixed rate may change prior to funding. On expiration of the fixed rate period, the interest rate reverts to a variable rate currently 4.74% for Owner Occupier and 5.04% for Investment home loans. Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time.
  • 5 WARNING: The comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rates assume a loan of $150,000 for 25 years. For fixed rate loans, the comparison rate is based on the initial fixed period, reverting to 4.74% for owner-occupied loans and 5.04% for investment loans. For fixed interest only loans, the interest only period is equal to the fixed period.

*Except for Low Cost Home Loan (Value Package), Construction Loan and Variable Rate Home loan.

#Up to $10,000 a year on Fixed Rate Home Loans.

^No redraw facilities available for Fixed Rate Home Loans.


Normal lending criteria, terms and conditions and fees and charges apply. Mortgage insurance is required for home loans over 80% and is subject to approval.

Interest only subject to approval. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

You should read and consider the relevant terms and conditions (available on request) and our Financial Services Guide before deciding whether to obtain any of our financial products or services.