Start the journey

You can refinance your home loan to Unloan in six simple steps. When you switch to Unloan, for every year you hold your home loan, you’ll receive a loyalty discount of 0.01% p.a. off the current interest rate, up to a maximum discount of 0.30% p.a every year, up to 30 years**.

There are also no application, discharge, account keeping or transaction fees. In certain circumstances you may be required to pay a Lenders Mortgage Insurance (LMI) premium. Learn more about why this is applied and how it works. Government fees may also apply. Your current lender may charge an exit fee when refinancing.

If you're looking to purchase a home, visit our dedicated Buy A Home page for more information. You can calculate your borrowing power and get property insights to calculate if you could afford to buy.

Chat to us online to get guided supported and make buying a home simple.

You’ll be able to see:

• An estimate of your minimum monthly principal and interest repayments by refinancing to Unloan
• What changes occur if you make additional repayments
• An estimate of how much interest you could save by refinancing to Unloan
• How our loyalty discount works over the life of your loan

To reduce or avoid paying the LMI premium, consider saving up for a larger deposit. At Unloan, LMI premiums are charged when the Loan to Value ratio (LVR) for a new home loan application is between 80.01% and 90%.

While not offered by Unloan, some other options may include:

• A Low Deposit Premium, also known as LDP is a one-off, non-refundable, non-transferrable fee offered by some lenders that’s added to your home loan. It protects your lender against any loss they may incur if you’re unable to make repayments on your loan.
• A guarantor. A guarantor is someone, for e.g. a family member, who agrees to be responsible for your home loan repayments in any situation where you’re unable to make repayments. They help you secure a home loan by agreeing to offer their own property as additional security.

Every year on the anniversary of your settlement date we’ll give you an additional 0.01% p.a. loyalty discount on your rate, up to a maximum of 0.30% p.a. It’s our way of saying thanks for staying with us.

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We like to keep things radically simple, so you can apply in minutes. Once we receive the necessary documents, we’ll run all the standard checks. If you’re approved, we’ll formally request a transfer from your current lender. This is often when delays can occur. On average, from application to settlement, it has taken our existing customers five to six weeks to switch over.

Higher interest rates typically mean your borrowing power will be reduced as your repayment costs will increase.
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When you refinance your home loan, it’s often to get a lower home loan rate and save money in the short and long term. By undoing your home loan with Unloan, not only are you on a low rate home loan, but you’ll receive an annual loyalty discount that increases every year you stay with us, up to 30 years.

A redraw facility lets you access extra repayments you’ve made on your home loan. Maintaining an available redraw balance can help you reduce interest on your home loan. This could come in handy if you need some extra cash down the track.



Learn more about redraw.