A free refinance checklist from The Finance Yogi covering the documents, equity and rate checks before you switch lenders in WA.
Before you refinance, a quick readiness check tells you whether switching will actually save you money. This free checklist covers the documents, equity and rate checks to run first.
Work through it and you will know if a refinance is worth it – and have everything ready to move quickly if it is.
As your local Perth broker, The Finance Yogi uses this checklist to confirm a switch stacks up before recommending it.
A worthwhile refinance comes down to three checks: is your current rate above the market, do you have enough equity, and do the savings outweigh the switching costs?
Running these before you apply avoids wasting time on a switch that does not pay off – and confirms a good one quickly.
Work through the checklist below, and we will calculate your exact saving for free.
Refinancing only makes sense when the numbers work, and this checklist confirms whether they do.
We run the full comparison across 40-plus lenders and only recommend switching when you genuinely come out ahead.
With the cash rate at a 15-year high, many homeowners are above the market and do not realise it. The gap is where your saving comes from.
See the step-by-step in our how to refinance guide, and estimate the impact with the repayment calculator.
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After 10 years inside the Big Four banks, I saw how many Perth families missed out or borrowed with the wrong lender. The Finance Yogi exists to change that - we compare the whole market and explain every number in plain English.
Equity is your property’s current value less what you owe. The more you have, the better the rates you can access – and once you pass 20% equity, you can usually drop Lenders Mortgage Insurance.
A recent valuation confirms your position. If your property has grown in value, you may have more usable equity than you think.
On a Keystart loan? see our guide on when to refinance from Keystart to a bank, which hinges on reaching around 20% equity.
If the numbers stack up, you will move faster with your documents ready. Have your current home loan statements, proof of income, ID, and a recent rates notice and insurance details to hand.
Refinancing is usually simpler than a new purchase, and with these ready the whole switch can complete in a few weeks.
We manage the application, valuation and discharge for you. See the full service on our refinance broker Perth page.
Work through the final list below. If each item checks out and the saving is real, you are ready to switch.
We confirm your exact saving, compare the market, and handle the whole move if it stacks up.
Tick these off and we will take it from there. For the full picture, read our complete refinancing guide for WA, or explore our finance services.
Book a free, no-obligation refinance review and we will show you exactly what you could save.
Source: switching guidance from ASIC MoneySmart, and interest rates from the Reserve Bank of Australia. Confirm current figures before switching.
