Leaving your old lender?
It’s not you…it’s them.
Don’t worry, Well Money is here to make sure it’s not a messy break up and you you stay in full control. Our award winning mortgages have the kind of features you’d expect from a bank, with sharp rates and the personal support you would expect from a family run company.
Choosing the right solution for you
So you've decided you can do better
And so you should! A lot of people don’t review their home loans and can get stuck. A home loan that seemed great when you first started, can become not so great as your circumstances change.
We get that life happens and everyone should be checking out whether a new home loan could be right for them. It is worth checking whether your current rate is still competitive, because the gap between what existing customers pay and what is available to new ones can widen over time.
Saving money
Refinancing your home loan can be one of the best cost-cutting measures you can take to help reduce your monthly repayments.
Get a better rate
If your existing lender will not sharpen your rate, it may be worth seeing what else is available.
No mortgage prisoners
With our solution based range, even if you're a mortgage prisoner, we might just be able to help you save money.
So simple!
Get your personalised borrowing scenario before you commit to a home loan. Means we make sure we’re right for each other first.
Featured Well Money refinance investment loans
Rates worth talking about
Get lower rates from day 1 with our super-low rate home loans.
No unfair loyalty systems or unnecessary features. Just great features, at a great rate.
- Max 95% LVR can be considered
- Flexible loan terms
- 100% Offset accounts
- Self employed options available
FEATURED "investor" refinance loan
Next Step Investor 80
- Award winning low rate
- 100% Offset available
- Max 60% LVR
- Loan amounts: $150K - $2m
6.31%
Interest rate p.a.
6.35%
Comparison rate p.a.
Complex option "investor" loan
Next Step Investor IO
- For complex situations
- up to 10 year IO option (5 yr shown)
- Save with lower repayments
- Loan amounts: $150K - $1.5m
6.51%
Interest rate p.a.
6.41%
Comparison rate p.a.
Got a question?
Ask away.
At Well Money, we’re here to make borrowing simple, personal, and stress-free.
Fill in your details and one of our dedicated brokers will reach out to guide you every step of the way—whether you’re buying, refinancing, or exploring your options.
1300 555 444
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Things to consider when refinancing
Now that you’re considering a change, Well Money might be the better option. Changing your home loan provider is often seen as a difficult and time consuming process. It doesn’t have to be and it can be well worth your while to review this every couple of years to make sure you’re getting a good rate.
Don’t worry, we’re here to help make sure that it’s not a messy break up and you stay in full control.
Decide why you want to leave your existing lender
Some of the more common scenarios that are perfect for you to refinance can include:
- Finding a better rate to lessen your repayments (or keep them at your old level for faster payoff!).
- To leverage some equity in your property.
- Consolidate some other debts (within reason of course).
- Access to more appropriate features for your stage of life.
Ensure you’re across the fees your old lender charges you
Most lenders will have a fee that is payable when you look to switch. So if you’re going to refinance with another lender, you will have to pay your current lender this fee. This will usually be included in the payout figure that you get from your old lender.
Is LMI Payable when you switch?
Your old mortgage may have had an LMI premium which you paid. When you switch you may have to pay a new LMI premium – which is usually payable depending on your LVR. Whilst it may be capitalised into your new loan, it’s another fee that you may need to pay.
Are you currently on a fixed rate?
If you’re currently on a fixed rate home loan, then this could be quite costly to switch. Every lender will have provisions for what’s known as a “Fixed Rate Break Cost”. It will be in your current loan contract and is paid to the lender if your fixed-rate expiry date hasn’t occurred yet. It’s not a known cost and is quoted at the time you request it from your current lender.
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