REFINANCING PROPERTY

The Conveyancing team at Hunter Legal & Conveyancing understand the financial details surrounding a property have a significant impact on your life, both now and long term.

refinancing property requires careful planning, attention to detail and consistent communication with many parties. If you’re considering refinancing property, contact our experienced Conveyancing team, we can help you achieve the desired outcome as efficiently as possible.

People refinance properties for many reasons, commonly to reduce debt through lower interest rates, debt consolidation, obtaining additional loans for investment purposes, improving loan structure (i.e. additional repayments or offset features) and changing their repayment amounts.

refinancing property | fixed fee conveyancing

Of course, an early step of refinancing is to research the home loan products from multiple banks to see what rates and products are available (including related costs, like annual mortgage fees, honeymoon periods, exit fees). People may wish to engage a mortgage broker or financial planner to assist with this.
In addition to refinancing property, people often wish to address their insurance and superannuation accounts simultaneously.

What our clients say about us

Stacey Sullaphen
Stacey Sullaphen
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Nothing but praise for HLC who handled our purchase right on the border of NSW & QLD, making it tricky indeed. Sue & her team kept on top of everything and informed us every step of the way! Would not consider using anyone else for our conveyancing or legal needs.
Rick M
Rick M
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I cannot begin to say how easy purchasing a home was with the help of Hunter legal and conveyancing. Sue and the team made a difficult task simple. I will definitely be using HLC for my next house.
Shane Nevin
Shane Nevin
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I couldn't have asked for better service than what i received from Dawn when purchasing our block of land last year. Very helpful, extremely professional, service with a smile. 🙂
Karen Fenning
Karen Fenning
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Highly recommend Hunter Legal & Conveyancing , Sue and her Team went above and beyond for us they came to our home to sign our new House Contract when it was difficult for us to get out and about with our disabled son.
Leanne McDonnell
Leanne McDonnell
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The Team @ Hunter Legal & Conveyancing are exceptionally great @ what they do as a team, their excellence to detail and support were outstanding, Thanks to Sue and The Team, from the front desk to beyond you all went out of your way to help me achieve the purchase of my new property. I would highly recommend Hunter Legal & Conveyancing. Thankyou ALL again. Leanne. Kurri Kurri.
Steven Sales
Steven Sales
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No mucking around, they just get in and get the job done. Friendly staff Made the process of buying a house less stressful
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Vicki Hobbs
Vicki Hobbs
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I have found them most helpful, with the sale of my house. You would be happy with their service if you went with them.
Mathew Sefian
Mathew Sefian
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Incredible work. I needed people on the ball, proactive and experienced enough to navigate a settlement in 5 days after an exchange. Any one who knows property, banks and sollicitors knows this is a big ask. Hunter legal were all over it !!! And we did it. Great work cant say enough about this team.
Brad Driscoll
Brad Driscoll
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Erin and the team from Hunter Legal and Conveyancing were a pleasure to work with. Made the process straight forward and easy to manage.
Toni Walsh
Toni Walsh
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I work with Hunter Legal on a daily basis and always find them easy to communicate with, always friendly and happy to help any way they can. Would happily refer them to anyone who is wanting to buy or sell real estate.
Chris Lyttle
Chris Lyttle
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The team at hunter legal are very helpful and where able to sort everything out while I was working away. Ebony done an excellent job with the sale of my house and buying my new house.
Darren Doyle
Darren Doyle
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The staff have been awesome right from when I called to get there help in buying our home, highly recommended HLC to everyone looking for professional help in anyway. Thank you so much Susanne you made our job easy. Keep up the great work.
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Kathie Morris
Kathie Morris
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Big thank you to Ebony, Erin and team for handling both property sales and purchases for us recently. All transactions were delivered professionally and thoughtfully, considerate of our time and availability.
Ryan Drury
Ryan Drury
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Fantastic service. Went above & beyond with my recent home purchase. Highly recommend this professional crew. Special shout out to Jasmine for her fantastic efforts. Thank you so much.
Trevor Laker
Trevor Laker
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Sue and Ebony were amazing after having a bad experience with another Conveyancer, a pleasant and easy transaction and nothing was to much trouble for these girls. We would have no problem recommending them they at least sell peace of mind when they take you on as a client.
Terry Bradley
Terry Bradley
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Having moved from interstate and not knowing anyone, Sue was recommended by the real estate agent. She was very friendly and pleasant to deal with especially when we had dramas. Would highly recommend their services.
Kasey Williams
Kasey Williams
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Ebony and Erin assisted me in purchasing my first home. They were incredibly professional and guided me through every step of the process, answering all of my questions and providing valuable assistance along the way. Thankyou so much!
Steve Jarmain
Steve Jarmain
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I have engaged Sue and the friendly team at Hunter Legal twice in 12 months on conveyancing and purchasing realestate. its a pleasure dealing with such professionals. They are very efficient, have great communication and are very approachable. I highly recommend Hunter Legal and will continue to use their services in the future. Again well done to Sue and your proactive team.... Thank you...
Danielle Fox Harland
Danielle Fox Harland
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Sue Mosley and her team at Hunter Legal and Conveyancing were a pleasure to work with. Sue and Jasmine have a straight forward approach to conveyancing and legal matters which made the process of purchasing a property stress free and easy. Her honesty, expertise and in depth knowledge enabled us to achieve a property settlement in a short amount of time. Sue and her team went above and beyond our expectations in all areas of customer service and legal representation. We would highly recommend Hunter Legal & Conveyancing.
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COMMON COSTS ASSOCIATED WITH REFINANCING PROPERTY

There are several up front costs when refinancing property. However, long term, these costs should be outweighed by the savings in interest charges. The upfront costs usually include:

Discharge of mortgage fee with NSW LRS (current price list here)
Exiting a mortgage early fee (ask your bank)
Application and processing fees with the new lender (ask new bank)
Valuation fees (when a bank requires a valuation on the property)
Additional mortgage stamp duty (occurs when you increase your loan amount on properties that are not owner-occupied)
Lender’s mortgage insurance
Conveyancing costs (we can provide you a quote over the phone)
Additionally each bank can provide calculations that will show the repayments over the life of the loan (at the current interest rate). It’s also wise to calculate the repayments in the event of a interest rate rise to ensure you are able to meet the repayments in a worst case scenario.

refinancing property

While we are not able to choose a home loan for you, we are able to provide you guidance as to what loan structure would be suitable for your needs.

REFINANCING PROPERTY IN NSW - WHAT YOU NEED TO KNOW

As mentioned in our transferring property page. A bank will hold the Certificate of Title over the property until the mortgage is repaid or they consent to a title transfer.
Refinancing will require the existing mortgage to be discharged, enabling the Certificate of Title to be transferred to a new owner or bank. The process is completed with the NSW Land Registry Services and usually takes two weeks to complete.
If you are refinancing property in NSW that is owner occupied, for example, additional funds to perform renovations, you will not be charged stamp duty. If the property is not owner occupied, then it is likely you will pay stamp duty fees.

Please browse our website to see if we’re a suitable Law firm for you. Alternatively, feel free to call our office on 1300 224 828 or use our contact page.

FAQ

In terms of changing the Certificate of Title with NSW LRS there are no limits to how many times this can occur, you would simply pay the registration fee multiple times.
The limitation, would lie within the individual banks policies and procedures on their home loan product. Discuss this with your bank.

Usually you will be provided same day notice.
The majority of banks in Australia are part of the Australian Banking Association, who maintain a code of practice that members abide by. To ensure your bank is part of the Australian Banking Association, you can see if they are listed as a member here.
According to the code (Chapter 38, Part 153) – “If we change an interest rate, we will tell you no later than the date of the change”.
To be as observant as possible towards interests rates, follow the Reserve Bank of Australia and contact your bank when necessary.

HOW WE CAN HELP

  • Providing preliminary advice to align the refinance to align with your long term goals
  • Collaborating with banks to ensure all the mortgage documentation is correctly prepared and submitted
  • Advising on loan structure
  • Working with your financial planner if required
  • Liaising with your banks to assure settlement on the proposed date
  • Submitting all necessary documents to the NSW Land Registry Services and paying all transfer costs on your behalf
  • At the end of the refinance process, we’ll compile all the relevant documentation for you

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