All Topics / Finance / Refinance when having fixed rate loan component

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  • mkbonline
    Join Date: 2012
    Post Count: 19

    Hi Experts,

    I am looking to refinance my PPOR loan.

    Currently with AMP – Current loan balance of 930K @ 2.89% variable – 18 + yrs renaming and 485K @ 3.85% 3 yr fixed with 1.5 yr appx remaining. Looking for cheapest rate, 100% offset, unlimited redraw and additional payments.

    My research for re-finance led to below cheaper options

    Super Saver Variable | 2.19%*p.a. Var & Comp | Reduce HL – Just 2.19%
    Online home loans | Smarter Faster Simpler | Tic:Toc
    Online Home Loans and Everyday Banking Accounts – UBank

    Both myself and wife in top MTR bracket.

    My questions

    1. Is it possible to refinance, if you have a fixed-rate loan component? Will the new lender pay part of the break-up cost with the existing lender?

    2. Is there any catch in above mentioned cheaper options? In future, if I want to leverage equity of my PPOR and buy investment property – does online-only lender have that option?


    Profile photo of JaxonJaxon
    Join Date: 2014
    Post Count: 284

    Good Day Manish,

    1. Yes can be possible (may very expensive to break & not make sense), ask the lender your with & they should tell you the associated costs & ask the new lender?

    2. each product (loan) can have different options/fees/etc as usually fully disclosed in its PRODUCT DISCLOSURE STATEMENT (PDS)

    so you need to understand each product you are looking to get into.

    Enjoy your week!


    Jaxon | Jaxon Avery – Financial Adviser
    Email Me | Phone Me

    JPA Financial Services Pty Ltd

Viewing 2 posts - 1 through 2 (of 2 total)

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