Mortgage refinance process
We can help you refinance your home loan if:
- Your financial circumstances or lifestyle change
- Your current mortgage no longer meets your needs, or
- You’re not happy with your existing lender.
The home refinance process involves 5 straightforward steps.
| Steps | Description | More information |
|---|---|---|
|
1 |
Explore the costs of refinancing |
Depending on the terms and conditions of your current home loan contract, refinancing can be expensive so you need professional advice regarding the costs charged by your current lender. |
|
2 |
Choose the right home loan |
Whether you have a property loan with us or another financial institution, we can help you review your existing home loan to make sure it’s the best fit for your situation. Email a home loan expert. |
|
3 |
Apply to refinance your loan |
Submit your application online, direct to a branch or to one of our experts. Make sure to include all required supporting documents. Note: Advise your lender that you are refinancing so they can provide Westpac with all necessary information to make the process as quick and easy as possible for you. |
|
4 |
Approval and documentation |
Once we receive all necessary documents and provided all lending criteria have been met, we notify you and issue a Letter of Offer, which you need to sign and return to us as soon as possible. |
|
5 |
Arranging settlement |
Once we receive your signed Letter of Offer, we organise settlement with your solicitors or conveyancers. This is a process where titles are exchanged and the bank registers a mortgage over your property. |
Things you should know
- The information contained within this page is general in nature. It serves as a guide only and does not take into account your personal financial needs. Before you act on this information you should seek independent legal and financial advice.
- Terms and Conditions apply and are available on request. Application subject to normal credit criteria and approval.
- 1. A redraw request is subject to approval. A redraw fee applies.
