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Understanding The Mortgage Refinance Process

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Understanding the mortgage refinance process.

The refinancing process depends largely on the terms and conditions to which your current home loan agreement is subject. If you’re thinking about switching loans, you need to consider the costs of any penalties – if relevant – versus any savings you stand to make.

It also pays to investigate the process before you revise your loan’s terms and conditions or trade one lender for another.

Why refinance?

There are several reasons motivating homeowners to refinance. It could be to achieve a lower interest rate or move from a fixed rate to a variable rate loan or vice-versa. It may be that a significant change in your life circumstances or financial situation impacts your ability to meet your mortgage repayments, leaving you no choice but to refinance.

Did you know?

With our in-house mortgage broking division we bridge the gap between the countless phone calls and emails between lender and accountant making your refinancing and borrowing much less stressful.


For instance, if you and your partner are expecting a child, you may be planning to take maternity or paternity leave or reduce your work hours therefore accepting a lowered income.

Conversely, you may have just received a promotion or a job change and with it a raise in salary, putting you in the position to increase your monthly repayments with a view to paying off your mortgage faster.

Regardless of your particular situation, it's beneficial to consult a strategic mortgage broker to assist you with the refinance process if need be.

The mortgage refinance process

We can help.

SMART Business Solutions Mortgage & Lending is a registered financial services provider and perfectly positioned to help you determine the most suitable property loan types and terms for you.

If you’re in the market for a financial advisor with knowledge of the property market and mortgages, SMART Business Solutions Mortgage & Lending. We can advise you about whether refinancing your mortgage is the right move for you and, if so, guide you through the process. We are here for you every step of the way, providing regular check-ins to ensure you stay on track to homeownership success!

Get in touch

Our holistic approach to taxation, accounting and financial planning means we bridge the gap in the client experience, eliminating the frustration from delays that are often inevitable with multiple stakeholders involved in the lending process.


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