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Refinancing Adelaide

Is your home loan
still competitive?

Lendology compares your current rate against 60+ lenders and tells you honestly whether switching saves you money - after every cost is factored in.

400+ Adelaide families helped
|
60+ lenders compared
|
No cost always - paid by the lender
Get a rate review See your saving
Last reviewed: April 2026
Home › Home Loans › Refinancing
The loyalty tax

Your bank's best rates
are for new customers.

Lenders compete aggressively to win new borrowers. Existing customers who don't review their rate get left behind. If you haven't checked your rate in the last 12 to 18 months, there is a very high probability you are paying more than you need to.

0.3–1%
Typical gap Lendology finds between what clients pay and the best available rate
$3,000
Cost per year of a 0.5% rate gap on a $600k loan
60+
Lenders Lendology compares - not just the big four
No cost
Lendology is paid by the lender at settlement - not by you
Calculator

How much is your current rate costing you?

Move the sliders. See the real cost of staying put - and what switching could put back in your pocket.

Your loan details
$500,000
6.50%
5.80%
25 years
Your savings
$346/mo
Monthly saving
$4,152/yr
Annual saving
$97k total
Saving over loan term
This is a guide only. Lendology calculates your precise saving - after all discharge fees, application fees and switching costs - before you commit to anything.
Get my exact saving Full refinancing calculator with switching costs →
What changes

Staying vs switching -
what the numbers actually show

Most borrowers assume switching is complicated and expensive. The reality is that switching costs are typically recouped within 6 to 9 months.

Staying
Switching
Interest rate
6.50%
5.80%
Monthly repayment
$3,369
$3,023
Monthly saving
-
+$346
Switching costs (est.)
-
~$1,200
Break-even point
Never
~4 months
Saving over 25 years
$0
+$97k
Based on $500,000 loan, 25 years remaining, switching from 6.50% to 5.80%. Switching costs estimated at $1,200.
When to stay

When refinancing doesn't make sense

Lendology gives you an honest answer - even when that answer is to stay put. Refinancing may not be right if:

You're on a fixed rate with significant break costs that outweigh the saving over your remaining fixed period.
You're selling in the next 12 months and won't recoup switching costs before settlement.
Your equity has dropped below 20% and LMI on the new loan erases the rate benefit.
Your income has changed significantly and serviceability with a new lender may be an issue.
Lendology will tell you upfront if any of these apply to you - and what your options are. We do not recommend switching if it is not in your interest.
The process

From rate review to settlement in 4 to 6 weeks

Lendology manages the entire switch. You provide the documents - we handle everything else.

1
Rate review - 30 minutes
We look at your current rate, remaining term, loan features, exit costs and equity position. We calculate your true net saving across every realistic option - before you commit to anything.
2
Full market comparison
We compare 60+ lenders - not just rate, but cashback offers, offset features, lender assessment policy and how each lender treats your income type. We identify your best option with confidence.
3
Clear written recommendation
We present your current loan versus your best alternative side by side - monthly saving, total saving, break-even point, all switching costs included. You see the full picture before making any decision.
4
Application and settlement
Once you decide to proceed, we lodge the application, manage the valuation, liaise with both lenders and coordinate discharge and settlement. Most clients have minimal involvement after signing.
What we check

The full picture - not just the headline rate

A lower rate does not always mean a better deal. Lendology evaluates every factor before making a recommendation.

✓
Discharge and application fees - factored into the net saving calculation
✓
Cash back offers - some lenders pay $2,000 to $4,000 to new refinancers
✓
Offset account features - a good offset can be worth more than a lower rate
✓
Lender assessment policy - some lenders are more favourable for your income type
✓
Serviceability - we confirm you will be approved before recommending a switch
✓
Break costs - critical if you are on a fixed rate with time remaining
✓
Equity and LVR - determines whether LMI applies on the new loan
Lenders we compare
Commonwealth Bank Westpac ANZ NAB Macquarie ING St George BankSA Suncorp Ubank Athena + 50 more
Common concerns

The reasons people don't refinance - and the reality

Most of the reasons people stay with their existing lender are based on assumptions that are no longer accurate.

"My rate is already pretty good."
Probably not - lenders offer their sharpest rates to attract new customers. The only way to know is to compare. Lendology does that comparison in full, at no cost, with no obligation to proceed. If your rate is genuinely competitive, we will tell you.
"Refinancing sounds like too much hassle."
The paperwork is essentially the same as your original application. Once you provide your documents, Lendology manages everything - application, valuation, lender liaison, discharge coordination and settlement. Most clients spend less than two hours on the entire process.
"I'm worried about break costs on my fixed rate."
Break costs can be significant - or they can be minimal depending on current wholesale rates. Lendology obtains the actual break cost figure from your lender before making any recommendation. We only suggest switching if the numbers stack up after all costs.
"I don't think I'll qualify with a new lender."
Serviceability criteria vary significantly between lenders. A lender that is conservative with one income type may be very favourable with another. Lendology matches your profile to the right lender's policy before lodging - so we already know you'll be approved.
"I'll just call my bank and ask for a rate reduction."
You can - and your bank may sharpen their rate slightly to retain you. But banks retain existing customers by offering just enough to stop them leaving, not their best rate. Lendology uses genuine competitive tension across 60+ lenders to get you the right outcome.
Google reviews

124 five-star Google reviews

Read all reviews →
Common questions

Refinancing FAQs

How do I know if I should refinance?
If your rate has not been reviewed in the past 12 to 18 months, book a rate review with Lendology. We will compare your current rate against 60+ lenders and give you an honest assessment - including all switching costs - before you commit to anything.
What does refinancing actually cost?
Typical costs include a discharge fee from your current lender ($200 to $500), an application fee from the new lender ($0 to $600), and sometimes a valuation fee ($0 to $500). If on a fixed rate, a break cost may apply. Lendology calculates all costs upfront so you see the true net saving before deciding.
How long does refinancing take?
A standard refinance takes 4 to 6 weeks from application to settlement. Lendology manages the entire process - document gathering, application lodgement, lender liaison, discharge coordination and settlement management.
Will refinancing affect my credit score?
A single credit enquiry results from a refinance application, which has a minor temporary impact. Lendology identifies your best option before lodging so you are not making multiple applications across different lenders.
Can I refinance with less than 20% equity?
Yes - but you may need to pay LMI again or find a lender that waives LMI for refinancers. Some lenders offer LMI waivers for certain professions or loan sizes. Lendology identifies the best option for your equity position and factors LMI into the true net saving calculation.
What is a cashback refinance and is it worth it?
Some lenders offer $2,000 to $4,000 cash incentives to attract refinancers. Lendology factors cashback into the true net saving - sometimes a slightly higher rate with cashback outperforms a lower rate without it, depending on how long you plan to hold the loan.
Related reading

Guides and articles

Rate review

Find out what your loyalty
is actually costing you.

Book a 30-minute rate review with Jason or Steve. We compare your current loan against 60+ lenders and give you an honest answer - including all costs - with no obligation to proceed.

Lendology is paid by the lender at settlement. Your rate review is at no cost to you.