See if your loan still fits.
Run the quick check, or scroll for the full picture.
Is your loan quietly costing more?
Your loan might not be bad. It might just be stale. This compares it to a broad market guide.
Not a refinance recommendation. It only shows whether a review may be worthwhile.
- $340Msettled
- 13+ yearsbroking
- 80+lender panel
Most Bulimba households who bought 18+ months ago are on a back-book rate the bank has quietly let drift. Danny compares the current setup to what the same lenders offer new customers — with exit costs factored in.
The honest rate and features comparison
The comparison nobody bothers to run for you: your current rate vs what your existing lender is offering new customers today, plus what two or three competitive lenders on the panel would do for your file. Danny pulls the live pricing — not the headline rate, the real discount tier your loan-to-value ratio and income actually qualify for.
Cashback, waived establishment fees, and LMI refund — which ones apply, and which are marketing dressing that disappears in the fine print.
Debt consolidation, done with the maths
$30,000 of credit-card debt at 20% moved into the home loan at ~6% saves roughly $4,000 a year in interest — but only if the cards don't go back up. Danny walks through the serviceability calculation (whether the new lender thinks you can afford the bigger loan), the LVR impact, and whether the savings clear the refinance costs inside 18 months.
When not to refinance
Sometimes the best advice is to stay put. If discharge fees plus the new lender's establishment costs outrun 12 months of rate savings, Danny tells you that — and instead helps you call the current bank's retention team with what the market would do for your file. That conversation alone saves most clients 30-60 basis points without switching.
My refinance and new purchase was under a range of complications and time constraints. Danny from Modern Home Loans was able to work through the maze methodically and provide a solution. Danny made the whole process work to reduce stress and impact on me whilst I was under the pump in my own business. Leave it to the professionals he said, and I could not imagine having a better customer service experience and would be happy to recommend MHL in the future.
Frequently asked questions
Direct answers to questions Danny hears most often when reviewing existing loans. General information only — nothing here is personal credit advice.
When does refinancing typically make sense?
Refinancing may be worth a closer look when the current rate sits materially above what the same lender offers new customers, when usable equity has accrued and the loan-to-value ratio drops a tier, or when loan features no longer match how the household uses the loan. The Home Loan Check-Up tool above gives a rough read before a longer conversation with Danny.
What does a refinance actually cost?
Switching usually involves a discharge fee from the existing lender (commonly $150–$400), a settlement and registration fee from the incoming lender, and any new valuation cost. Many lenders run cashback or fee-waiver promotions that offset some or all of this. Danny factors total switching cost into any comparison so the saving is genuine, not optical.
How long does a refinance take from application to settlement?
For a straightforward owner-occupied refinance with a clean file, most lenders settle within four to six weeks of application. Complex files, delayed valuations, or paperwork from the outgoing lender can extend that timeline. Danny runs the file end-to-end and chases the discharge so the borrower isn't left following up two banks at once.
Will refinancing affect a credit score?
Each formal application creates a credit-bureau enquiry, which can have a short-term effect on the credit score regardless of the outcome. Danny typically narrows the lender shortlist before any application is submitted, so a refinance review usually results in one enquiry rather than several. Multiple speculative applications across lenders is the pattern that does measurable harm.
Is consolidating credit-card or personal-loan debt into a home loan a good idea?
Consolidation can reduce monthly cash outflow because the home-loan rate is usually lower than card or personal-loan rates. The trade-off is that short-term debt then runs over a 30-year term, so total interest paid can rise unless the borrower keeps repayments aggressive. Danny runs both paths on paper before any application is submitted.
Can a refinance pull cash out for renovations or another purchase?
Cash-out refinances are available across most of the panel, but lender appetite varies by purpose, amount, and loan-to-value ratio. Renovation, debt consolidation, and investment-deposit cash-outs are the common purposes. Danny structures cash-out as a stand-alone split rather than blended with the core loan, which keeps tax treatment and future refinancing options cleaner.
Should the existing lender be approached before switching?
Often yes — most major lenders run a retention team that prices match, fee-waive, or cashback-match competitive offers when asked. Danny typically pulls a comparison set first, then advises whether the retention call is likely to produce the same result without the switching cost and time. Sometimes staying is the better arithmetic.
Prefer to talk it through?
Or book a coffee with Danny instead.
Thirty minutes on Oxford Street, Bulimba — or by video. No pressure, no spreadsheet homework before you arrive.