Yes. These deals have been created by the lenders specifically for the RateCity sale, and are not available elsewhere. That said, lenders sometimes run special offers at other times which might be similar.
Is switching simple? Why should I refinance?
Refinancing is when you change your home loan from one loan to another – provided either by the same lender or by switching to a different lender. When you refinance, you are technically paying out your old home loan early and starting up a new one.
Switching lenders is often much simpler than many Australians believe, and can make a significant difference to the finances and lifestyles of many home owners.
To help make comparing different home loan offers simpler, RateCity will compare your financial profile to the offers in the Switch & Save Sale, and filter out the loans that aren’t suitable for you, e.g. investor loans if you’re an owner-occupier. We’ll also calculate the potential savings of each loan compared to your current mortgage, and summarise the benefits offered by each lender so you can make a more informed decision.
Here’s how the refinancing process works at the Switch & Save Sale:
Depending on your lender, this process could take as little as 3 days or as long as 30 days.
If you choose to proceed with an application to refinance, this usually requires some paperwork, such as confirmation of your identity, your income, your residence and any other debts. Once you’ve selected one or more home loan offers from the options at the Switch & Save Sale, the lender(s) will soon be in touch to guide you through their application process and provide assistance if required.
There are several potential benefits to refinancing your home loan, which won’t always apply to every borrower. These benefits include: