A lower interest rate
Even a small rate reduction can add up to real savings over the life of your loan.
SWITCH TO A BETTER-FITTING LOAN
Changing home loans in Brisbane.
Your loan isn’t set for life.
Make sure it still fits.
Rates, features and your circumstances change. Staying on the same loan without a review can cost you. We compare your current loan with options from our lender panel and show whether switching is worth it. Personal guidance from Ausfirst Lending Group’s mortgage brokers in Brisbane and on the Sunshine Coast.
Excellent · 35 Google reviews
A loan for life as it is now.Let’s see if yours still fits.
SWITCHonly if it
pays off.
pays off.
40+Lenders on our panel
30+ yearsRichard’s broking experience
$0Broker fee for home loans
Local careBrisbane & Sunshine Coast
WHAT DOES CHANGING HOME LOANS MEAN?
A new loan for
where you are now.
Switching means moving from your current mortgage to one that better suits you, either with your existing lender or a new one. It’s often driven by rate changes, new circumstances or the need for more flexibility.
More flexible features
Offset accounts, redraw or penalty-free extra repayments can give you more control.
A better loan structure
Move between fixed and variable, or split your loan to balance certainty and flexibility.
Haven’t reviewed your loan in a while? We’ll compare it with today’s options and tell you if staying put makes more sense.
Get a free loan reviewWHEN TO CONSIDER A SWITCH
Your life has changed.
Has your loan?
A renovation, a growing family, a move to remote work or converting your home to an investment can all mean your loan needs to change too.
Ease your cash flow
A lower rate or longer term can reduce repayments. A longer term usually means more interest overall.
Change your loan’s purpose
Turning your home into an investment? An investment loan may better match your new goals.
Pay your loan off sooner
Switching to a shorter term or adding an offset can help you clear the debt faster, if the repayments suit your budget.
Your best interests come first
Mortgage brokers providing regulated credit assistance must act in your best interests, considering costs, features and your needs.
A QUICK COMPARISON
Ask your lender, or switch?
| What you compare | Stay and negotiate | Switch lenders |
|---|---|---|
| Rate | One retention offer | Options across our panel |
| Paperwork | Usually minimal | A new application |
| Costs | Usually low | Discharge, setup, possibly LMI |
| Features | That lender’s range | A wider choice |
With a strong credit history and at least 20% equity, your current lender may match a competitor. We help you compare both paths.
Compare my optionsWILL YOU ACTUALLY SAVE?
Find your
break-even point.
Switching only pays off once your savings outweigh the costs of moving. The faster you reach that point, the stronger the case for switching.
We include every cost, from discharge and application fees to any LMI, so you see the real result.
- Break costs on a fixed rate
- Discharge and application fees
- LMI if your equity is under 20%
- Valuation, legal and settlement costs
YOUR SWITCH, AT A GLANCE
How long until switching pays off?
$50k$2m
Illustrative break-even point10 months
Monthly saving$154
Illustration only, not a quote. Assumes principal and interest repayments over the same remaining term and a rate that stays the same. Enter your own estimate of switching costs.
Check my actual optionsBEFORE YOU SWITCH
The trade-offs
to watch for.
Switching can save you money, but some offers look better than they are. We check the detail before you commit.
READ THE FINE PRINT
Look past the headline offer.
A waived fee or cashback can come with a higher rate. Compare the comparison rate and total cost, not just the incentive.
Some lenders reset your loan to a full 25 or 30 years. That lowers repayments but can increase total interest unless you keep your original timeline.
Fees and LMI
Break costs, discharge and application fees can reduce your savings. With less than 20% equity, you may pay LMI again, even if you paid it on your current loan.
Credit checks
A new application triggers a credit check. The impact is usually minor with a healthy credit history, but several applications close together can add up.
Fees, LMI and lender offers vary and can change. Confirm current costs with each lender before applying.
Let’s run your numbers. We’ll compare your current loan with suitable options, including every cost of switching.
Review my loanHOW TO SWITCH
What to consider
before you switch.
A clear plan makes switching smoother. Once you apply, the process typically takes four to six weeks.
Clarify what you want
Lower repayments, better features or paying off your home sooner. Your goal guides the right loan.
Review your current loan
Check your rate, fees, features, any exit or break costs and how much equity you’ve built.
Ask your current lender
Let them know you’re shopping around. They may match or beat a competing offer.
Compare the full cost
Weigh rates, fees and features across lenders, and check the savings outweigh switching costs.
THE RIGHT STRUCTURE MATTERS
Features worth
switching for.
The right features depend on how you use your loan. We help you compare them against your budget and plans.
Offset accounts
Reduce the balance used to calculate interest while keeping your savings accessible.
Redraw facilities
Withdraw extra repayments you’ve made if you need them later.
Extra repayments
Make additional repayments without penalty to reduce interest and your loan term.
Fixed, variable or split
Fix part of your loan and keep the rest variable to balance certainty and flexibility.
Planning a renovation, a family change or turning your home into an investment? We’ll factor that into your new loan.
Talk about my plansFROM FIRST CHAT TO SETTLEMENT
Six steps.
One team beside you.
We compare your options, manage the paperwork and keep you informed until your new loan settles.
UNDERSTAND
Review your loan and goals
Meet by phone, Zoom or in person. We look at your current loan and what you want to change.
GATHER
Build a clear picture of your finances
We collect income documents, loan statements and details of your debts and equity.
ANALYSE & PLAN
Compare options and costs
We compare your current lender’s offer with suitable alternatives, including every switching cost.
APPLY
Prepare and lodge your application
If switching makes sense, we prepare your application and liaise with the lender on valuation.
FINALISE
Manage settlement
The new lender pays out your old loan. We keep you informed until settlement is complete.
SUPPORT
Keep your loan competitive
We review your loan as rates and your circumstances change, so it keeps fitting your life.
Richard LukeFounder · Ausfirst Lending Group
WHAT MAKES AUSFIRST DIFFERENT
Your loan should keep up
with your life.
You’re looked after by someone who treats your financial success as his own.
Richard brings more than 30 years of hands-on broking experience. He takes the time to understand your current loan, circumstances and plans before comparing options from our panel.
Whether you want a sharper rate, lower repayments, better features or access to equity, we explain the costs and benefits clearly and tell you whether switching or staying is the better choice.
Personal attentionOngoing loan reviews2024 Sunshine Coast Business Awards finalist
Have a chat with our teamMore about RichardWHAT OUR CLIENTS SAY
Good people.
Great support.
ExcellentBased on 35 Google reviews
Google review
“I would describe Richard and Ausfirst Lending as friendly, insightful, prompt and diligent. A pleasure to deal with.”
Google review
“Debbie made the process of buying a new house frictionless, by providing excellent support throughout”
Google review
“I received very prompt responses to all of my questions and the team ensured that my application was processed in a timely manner. The service was brilliant!”
Excerpts from client reviews displayed on Ausfirst’s website. These reflect individual experiences.
LET’S CLEAR THINGS UP
Switching loans.
Real questions.
The questions we’re asked most about changing home loans. Your circumstances matter, so we’re happy to talk through the detail.
Ask about my loanWhat does it mean to switch home loans?
Replacing your current mortgage with a new one, from your existing lender or a different one. It’s commonly called refinancing and is usually done for a lower rate, better features or more suitable terms.
Will I save money by switching my home loan?
You could, if the new loan has a lower rate or fewer fees. Compare the total cost of switching, including exit fees, application fees and any LMI, to see whether the savings outweigh the costs.
What does it cost to switch home loans?
Possible costs include discharge fees, application fees, break costs on a fixed rate, government registration fees and LMI if your equity is under 20%.
How do I know if switching is right for me?
Start with what you want to achieve, then compare offers, check every fee and estimate your break-even point. We can run the numbers with you.
Can I negotiate with my current lender first?
Yes, and it’s worth doing. With a strong credit history and at least 20% equity, you may be able to secure a better deal without changing lenders.
How long does switching take?
Typically four to six weeks, covering application, approval and settlement. Timing depends on the lenders involved and how quickly documents are provided.
LET’S MAKE A START
A better-fitting loan
starts with a review.
Share a few details about your current loan and what you’d like to change. We’ll tell you what your options look like and whether switching makes sense.
A clear review of your current loan
Your break-even point worked out
Personal guidance from an experienced team
Visit us in Caloundra
Suite 3/74 Bulcock St, Caloundra QLD 4551
Monday–Friday, 9 am–5 pm
YOUR FREE LOAN REVIEW
Tell us about your current loan.
Send our team a little about what you’d like to change.
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Review and send it from your email app to share your details with Ausfirst. Your enquiry has not been sent yet.
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