Refinancing Made Easier: What Homeowners Need to Know
If you’re a homeowner feeling the pinch of rising mortgage repayments, there’s good news: refinancing your home loan is becoming more accessible. Recent data from the Mortgage & Finance Association of Australia (MFAA) reveals that more borrowers are successfully refinancing, thanks to improved economic conditions and increased support from mortgage brokers.
Why Refinancing Is More Attainable
According to the MFAA’s August 2025 Member Sentiment Survey, brokers are reporting that fewer clients are unable to refinance due to serviceability requirements. In fact, the number of clients brokers have helped refinance has doubled since February 2025. This improvement is attributed to factors such as easing interest rates, inflation, and changes in tax policies.
Additionally, 92% of brokers have clients who are using a broker for the first time to refinance, indicating a growing awareness and trust in professional financial advice.
What This Means for You
If you’re considering refinancing, now may be an opportune time. Refinancing can potentially lower your monthly repayments, reduce your interest rate, or consolidate debt, providing you with greater financial flexibility.
How to Get Started
- Assess Your Current Situation: Review your existing loan terms, interest rate, and repayment schedule.
- Consult a Mortgage Broker: A broker can help you navigate the refinancing process, compare different loan products, and find a solution tailored to your needs.
- Gather Necessary Documentation: Be prepared with financial documents such as income statements, tax returns, and details of any existing debts.
- Evaluate Your Options: Consider factors like loan features, fees, and the reputation of the lender before making a decision.
Refinancing can be a strategic move to improve your financial situation. With the current market conditions, it’s more accessible than ever. Consulting with a Simmons Livingstone mortgage broker can provide you with expert guidance and help you make an informed decision.
Contact us today on 1800 618 800 or email admin@simmonslivingstone.com.au to arrange a loan review and see whether refinancing could strengthen your financial position.
