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Unlock Better Terms on Your Existing Loan
If you have not reviewed your home loan in the last 12 to 18 months, there is a strong chance you are paying more than you need to. Lenders reserve their best rates for new customers, which means loyalty can cost you thousands each year. Refinancing through Noryx Lending is a straightforward process -- we handle the comparison, paperwork, and lender negotiation so you can start saving sooner.
WHY CHOOSE US
We conduct a thorough comparison of your current loan against the market to identify savings. Even a 0.25% rate reduction on a $600,000 loan can save you over $30,000 over the life of the loan.
If your property has increased in value, refinancing can allow you to access that equity for renovations, investments, or other financial goals without selling your home.
Rolling high-interest debts like credit cards, personal loans, or car finance into your home loan can significantly reduce your overall monthly repayments and simplify your finances.
Older loan products may lack features that are standard today, such as offset accounts, redraw facilities, or flexible repayment options. Refinancing lets you access a more modern product.
If you are concerned about rising interest rates, refinancing to a fixed rate can lock in your repayments and provide budget certainty for 1 to 5 years.
Many lenders offer cashback incentives for refinancers, sometimes up to $4,000 or more. We factor these into our analysis to ensure you are getting the best overall deal.
HOW IT WORKS
We review your current loan, including rate, fees, features, and remaining balance. We also assess your current property value to determine your loan-to-value ratio and borrowing capacity.
We compare your existing product against hundreds of alternatives, factoring in rates, fees, features, and any switching costs to determine if refinancing delivers a genuine benefit.
If the numbers stack up, we prepare and submit your new loan application while simultaneously coordinating the discharge of your existing mortgage. We manage all communication between old and new lenders.
Once the new loan settles, your old loan is paid out and you start benefiting from your improved terms immediately. We schedule a follow-up review to track your savings.
HAVE QUESTIONS?
There can be costs involved, including discharge fees from your current lender (typically $150 to $400), government registration fees, and potentially break costs if you are on a fixed rate. We calculate all costs upfront so you can see the net benefit before committing.
The typical refinancing process takes 2 to 4 weeks from application to settlement, though this can vary depending on lender turnaround times and the complexity of your application. We work to expedite the process wherever possible.
Yes, though you may need to pay Lenders Mortgage Insurance on the new loan. In some cases, the savings from a lower rate still outweigh the LMI cost. We run the numbers for you so you can make an informed decision.
Book a complimentary consultation with our team. We will assess your situation and present the best options available to you.
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