Lenders price new customers more sharply than existing ones, and they generally will not correct that unless asked.
Call your lender’s retention team, quote a specific rate a competitor is offering new customers for a loan like yours, and ask them to match or beat it. It costs nothing, takes a few days and needs no application.
If they will not move, a refinance becomes the better answer, and the competing offer is already in hand.
Part of the refinancing guide.
Your keys could be next.
Start with a free call. No credit check, no obligation.
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Example rates only, not current advertised rates. Set both sliders to your own figures.
Over the remaining term, before switching costs and fees, we model those before recommending a move. Estimates only, not credit advice.
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Charles and the team recently assisted me with the refinance of my investment property.
Charles and the team recently assisted us with a refinance of our investment property. Recommend Charles and the team to all
Had a really good experience with Charles at Links Property Finance. He was easy to deal with, always quick to respond and kept everything simple and clear throughout the whole process. You can tell he genuinely cares about getting the best outcome for his clients rather than just getting things done quickly. Really happy with the experience and would happily recommend Charles and Links Property Finance to anyone.
Charles Touma, Mortgage Broker.
A clean repayment history, a loan-to-value ratio comfortably under eighty per cent, stable income and a decent balance. If your property has grown in value since settlement, that is worth establishing before you call.
Equity matters most: a borrower at sixty per cent of value is cheaper for the lender to keep than one at ninety, and the pricing usually reflects it.
When the discount offered still leaves you above the market, when you want structural change the lender will not provide, an offset they do not offer, splits they will not do, or when you want to access equity at the same time.
Then refinancing does more than a rate cut can, and the refinance checklist sets out the sequence.
Same objective, very different cost and effort.
Frequently, yes. Retention teams exist precisely because losing a borrower costs more than discounting one. The strength of the offer depends on your equity, your repayment history and how competitive your current rate already is. It costs a phone call to find out.
No, but it helps, because it makes the conversation concrete. You do not need an approval elsewhere; knowing what comparable lenders are currently offering is usually enough.
No. Repricing is an internal adjustment by your existing lender, not a credit application, so no enquiry is recorded. That is one of the reasons to ask before applying anywhere else.
There is no formal limit, and once a year alongside a general review is a sensible rhythm. Asking every few weeks is unlikely to help. A rate that was competitive eighteen months ago frequently is not today, which is why the annual check matters.
Then you have a clear answer and a decision to make, and you have lost nothing but a phone call. A lender unwilling to price sensibly for a good borrower is telling you something useful about whether to stay.
Charles can tell you where your rate sits, and whether asking or switching is the better move for your file.
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General information only, not credit or financial advice. Professional lending policies, eligible occupations and loan-to-value thresholds vary by lender and change over time. Eligibility is confirmed against current lender policy in an assessment; nothing on this page is a promise that any lender will approve any application.
