My Mortgage butler

Refinancing home loans

Refinancing your home loan can unlock better interest rates, reduce your monthly payments, or access additional funds. Our team at My Mortgage Butler is here to help you explore your options and find the best solution to fit your financial goals and current situation.

It’s cost and obligation-free

Access to 35+ lenders to get you your most suitable loan

Mortgage Refinancing

Many people start a mortgage and don’t consider refinancing, missing out on potential savings and benefits in the long run. Even if you have chosen the best home loan, the financial landscape changes quickly, and the most suitable loan for you now may not be the best option in 12 months or two years.

That’s where we assist. We compare and assess your home loan against the market to determine if a more suitable option is available. If we find a better choice for you, we will inform you and assist you in taking the necessary steps to refinance your home.

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Why you should consider mortgage refinancing

Access better interest rates

Switching to a new home loan can save you on interest, meaning you’ll pay less for your house overall and build home equity at a quicker rate.

Access Home Equity

Access to your home’s equity is defined as the difference between your property’s market value and the balance of your mortgage. Typically, people use this money for home renovations or maintenance to increase its long-term value.

More flexibility in your home loan

Switching loan types to one with reduced interest rates, improved benefits, and reduced fees can have great benefits. If you are considering refinancing, it’s worth getting advice from a broker to see if you will save money by switching home loans or if it would be beneficial to remain with your current one.

Pay off your loan faster

We can help restructure your loan to potentially shorten the term and explore options for paying off your mortgage faster, whether through a lower rate or more favourable terms.

Why Choose My Mortgage Butler?

Genuine advice

We always work in your best interest, not the lenders. With our guidance, you can trust that you are getting the best advice to secure the right home loan tailored to your financial situation, goals, and requirements.

We check in with you annually

Get support from a mortgage broker who checks in with you. The most suitable loan for you today might not be the same in two years, which is why we often recommend refinancing. We'll keep in touch to make sure you're supported with the right advice.

You'll always know where your home loan is at

We don't leave you in the dark. Our team will provide regular updates as we progress through the research, application, and approval stages of refinancing your property. You're always welcome to ask us a question at any stage of your home loan journey.

Spend less time on paperwork & more time scrolling real estate listings

Trying to navigate the endless amount of loans you can switch to can be overwhelming and time-consuming, especially if you don’t know what you are looking for. We'll take care of all the behind-the-scenes admins with professionalism and expertise so you can rest assured you are making the best choice.

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My Mortgage Butler — Case Studies

How refinancing saved clients $2,016 annually
Refinancing offers numerous cost-saving benefits. In this case, we saved a client over $168 each month by negotiating and refinancing their home loan. This totals $2,016 in savings over the year—enough for a family holiday or, in golfing terms, a full year’s membership at your favourite course!

Financial Breakdown

Existing Loan
    Existing loan amount: $430,191
    Interest rate: 6.71%
    Repayment type: Principal & Interest
    Monthly repayments: $2,835
    Loan term: 28 years 6 months

New Loan – Lender B
    New loan amount: $431,200 (includes refinance costs)
    Interest rate: 6.00%
    Repayment type: Principal & Interest
    New monthly repayment: $2,667
    Loan term: 28 years 6 months

Results
    Same loan term with a different lender
    Lower interest rate
    Increased savings they can use towards better things
Helping clients access $50,000 worth of equity for home renovations
These clients approached us intending to reduce their interest rate and access equity in their property for renovations. We successfully restructured their home loans to align with their objectives, transitioning from interest-only to principal and interest. This restructuring lowered their interest rate and released over $50,000 in equity as cash out, enabling them to access the funds needed to complete their home renovations freely.

Financial breakdown

Existing Loans - Lender A
    Loan 1:
      Existing loan amount: $384,000
      Interest rate: 8.14%
      Repayment type: Interest only
      Monthly repayments: $2,604.80
      Loan term: 25 years 2 months
    Loan 2:
      Existing loan amount: $87,905
      Interest rate: 6.84%
      Repayment type: Principle & interest
      Monthly repayments: $611
      Loan term: 25 years 2 months
    Total Repayments = $3215.80

New Loan - Lender B
      New loan amount: $522,000 (includes refinance costs and cashout)
      Interest rate: 6.09%
      Repayment type: Principle & interest
      Monthly repayments: $3,421
      Loan term: 25 years 2 months
    Results:
      Long-term savings: Over $100,000 in interest costs over the life of the loan
      Access to cash: $50,000 for renovations
      Monthly increase in repayments: $205

Ready to take the next step in refinancing your home? Book a consultation with our mortgage experts today, and let's start finding the right home loan for you.

We carefully review your current mortgage and explore alternative options to help you maximise the benefits of refinancing your home.

It’s cost and obligation-free