Preparing For A Refinance

Streamline your application with our guide to what you'll need
There can be a significant amount of paperwork to track down when applying for a refinance. While it can leave you thinking whether it’s worth the savings (spoiler alert: it probably is), preparing as much as you can before you submit your application can help your application run a lot more smoothly.
Refinance Documentation Checklist

Land Title Identity Verification Form
If you are borrowing with a new lender, you’ll typically need to verify your identity in person at Australia Post outlet ($50, typically covered by your lender) or by home visit with a representative organised by your lender.

Marriage or Change of Name Certificate
If you have ever changed your name, you will need to provide a certificate of proof.

Latest Payslips
Generally, lenders will request at least your 2 latest payslips of all borrowers

Income Statement
You will need to provide at least the last financial year’s Income Statement as provided by the Australian Tax Office for each borrower

Certificate of Insurance/Certificate of Currency
You will need to provide proof of your Home Building Insurance. The lender may wish for you to revise the amount you are insured for based on how much you are borrowing.

Discharge Paperwork From Incumbent Lender
Each lender deals with mortgage discharge paperwork in slightly different ways. Contact you lender for details on the best way to locate this.

Company or Sole Trader Paperwork
We’ve outlined how to apply for a mortgage as a self-employed person here.

Additional paperwork for exceptional circumstances
There are some additional rules for applicants in certain situations, such as retirees or people on parental leave.

While requirements may vary slightly from lender to lender, ensuring the above paperwork is in order at application will make the process significantly more streamlined. Need further help? Chat to your credit advisor, who can help you collate the necessary documents specific to your lender. Alternatively, check out our guides on maximising your refinance here:

While lenders can offer appealing advertised rates, you cannot underrate the importance of the comparison rate.

Balance the costs from your outgoing and incoming lenders, as well as government charges, against the potential savings.

What seem like minuscule shifts in percentages between lenders can end up a large sum in the long run – how much can 0.5% save you?

Understand the current property market and its effect on the LVR of your property – it could earn you a discounted rate.

Be aware of the different sorts of refinance and what will help you achieve your goals and suit your financial situation.

There can be a lot to be across when refinancing. A credit advisor is your best resource to help you will all of these steps.