Refinancing in WA: When and Why It's Worth a Look

Introduction
If it's been more than 18 months since you reviewed your home loan, you could be paying more than you need to. With interest rates, cashback offers, and loan products constantly changing, refinancing can be a powerful way to save money - or access equity to move forward with your goals.
In this article, we break down when it's worth considering a refinance in WA, how it works, and what WA homeowners need to watch out for.
What Is Refinancing?
Refinancing means switching your current loan to a new one - either with your existing lender or a different one. The goal? Better rates, features, or flexibility.
Common reasons to refinance:
Lower your interest rate and reduce repayments
Access equity for renovations or investment
Consolidate debts into your home loan
Fix or split your loan to reduce risk
Switch to a lender with better customer service

When Should You Refinance?
1. You haven't reviewed your loan in over 18–24 months
 Lenders rarely reward loyalty. If your rate starts with a 6 or higher, there's a good chance we can do better.
2. You've had a major life change
 New job? Growing family? Bought a second property? These can affect how your loan should be structured.
3. You're out of a fixed-rate period
 If your fixed term just ended, your lender may have automatically switched you to a high "revert rate."
4. You need to access equity
 If your property has increased in value, you may be able to borrow against that equity for renovations, investments, or big purchases.
What to Watch Out For in WA
Lender servicing calculators vary - what one bank rejects, another may approve.
Fixed-rate break costs can be steep - always get advice first.
Refinancing fees can sometimes outweigh the benefits if the loan term is short or small.
Valuation differences - WA property values can be assessed differently across lenders, especially in regional areas.

How We Help at Quick Smart Finance
At Quick Smart Finance, we work with over 40 lenders to compare your current loan against the market. You'll get:
A free loan health check
Transparent comparisons and real savings
Full application and refinance support
Guidance on timing, structure, and hidden costs

Ready to Refinance?
If you're based in Perth or anywhere across WA, we'll help you refinance smart - and fast.
Book your free refinance review
Or call Allen Rustean directly on 0422 199 939
Email: allen@quicksmartfinance.com.au