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Refinancing your home loan

Are you thinking of refinancing a loan? Organising a home loan refinance is easier than you think. Here’s everything you need to know!

Reasons to refinance

Refinancing involves ending your current home loan by taking out a new one, often with a different lender.
Refinancing can help you pursue new features and better savings.

  • Get a better interest rate

    Current home loan rate not competitive? Refinancing can let you switch and save, swapping your old home loan for a new one with a better interest rate.

  • Put money back in your pocket

    A lower interest rate could mean lower home loan repayments. Send less to the lender, spend more on you.

  • Choose a new loan type

    Whether you're moving into an investment property or want an interest-only loan, refinancing lets you change loan types.

Check out our home loans

Some of Australia's best interest rates live here

  • Variable

    • P&I

    • Live-in

    • 5.69% p.a.

      Interest rate

    • 5.70% p.a.

      Comparison rate

    • Up to 30 yearsloan term
    • 10% depositminimum
    • No feesupfront or ongoing
    • Unlimitedadditional repayments
    • Free online redrawon any additional repayments
    • Offset accountoptional for $10/month

    Please note if you add an offset account, your comparison rate will change.

    Backed and funded by
    Bendigo and Adelaide bank
  • Fixed 1 year

    • P&I

    • Live-in

    • 6.32% p.a.

      Interest rate

    • 5.80% p.a.

      Comparison rate

    • Up to 30 yearsloan term
    • 10% depositminimum
    • No feesupfront or ongoing
    • $20,000additional repayment limit per year
    • Free online redrawon any additional repayments
    • Offset accountoptional for $10/month
    • 5.74%roll-to-rate after 1 year

    Please note if you add an offset account, your comparison rate will change.

    Backed and funded by
    Bendigo and Adelaide bank

Have a question about refinancing?

Learn more with some of our frequently asked questions.


The cost to refinance

There’s not always a high cost to refinance. Unlike other lenders, we don’t charge application fees, but be sure to factor in state government and conveyancing costs. Your current lender may charge fees for closing your old home loan.

Industry standardTic:Toc
Application feeUp to $850$0
Monthly feeUp to $50$0
Annual feeUp to $500$0
Offset account fee$10 to $30 or built into the interest rate$10 / month (optional)
Online redraw feeUp to $25 per redraw$0
Valuation feeUp to $800$0
Settlement feeUp to $200$0
Solicitor/Conveyancer costsUp to $200Approx. $60 - $200.

Exit / discharge feeUp to $1000$325
Government refinance costs

These vary by state, but include title registration, discharge of mortgage, and title search fees.

Around $260 - $440
Government buying costs

These vary by state, but include stamp duty, title and mortgage registration, and title search fees.

Dependent on your property value and which state you're in, but can be thousands.


Want to see how much you could save?

We have a calculator for that.


Why Tic:Toc?

The biggest potential benefit: more money in your pocket. Over the life of your loan those monthly savings add up to a lot — the bottom line: loyalty to your lender is costing you.


Refinance your home loan in 3 easy steps

Apply online and get help from local home loan experts when you need it.

  1. Apply online

    Your refinancing application should take about 20 mins to complete. We will ask you some basic questions about you and your property to check your eligibility. Then we will need to verify your identity, financials and run a credit check. Have a digital copy of your ID and key documents ready to upload.

  2. Approval

    Once completed we'll tell you whether or not you're approved — or declined. Once you are approved we will send over a contract for you so you can sign.

  3. Your job is done

    The final step is settlement. This is where the money changes hands from your current lender to Tic:Toc. The date is generally worked out by our solicitor/conveyancer and your current bank’s settlement department. It can take up to 3 weeks.

    Hooray, you're done! Strike “refinancing home loan” off today’s to-do list. Well done you! Enjoy your savings

Join the other smart customers

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🤔 Too many numbers or just need a hand?

Legal things about our rates, no tricks

About our Awards

Awards don’t motivate us as much as helping customers. But as the OG digital home loan, being awarded Canstar’s ‘Digital Lender of the Year’ makes us pretty proud. We’re excited to say that over the last five years, we’ve won 42 Canstar awards and you can find out all about them here.

No honeymoon rates

Existing borrowers may have a different interest rate, depending on the price we were able to negotiate with our funder at the time the loan settled, and any reductions made over time. We don’t do honeymoon rates, or make loyal customers subsidise lower prices for new customers. We’re transparent with our rate history, you can read about it here.

Our current rates

Our rates are current as of 14 September 2023; available to all home loans approved on or after this date, and they can change. Our comparison rates are calculated for a $150,000 loan over 25 years. They factor in our fees associated with applying for the loan; our ongoing fees and our fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. You can find all of our roll-to rates here. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are 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.