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Anne B.
Anne B.
Woodville North, SA

I own my own home outright worth around $400,000
I also have an investment property worth around 300,00 on which I owe $232,000 and paying 5.6%
I want to refinance to get a better rate but not getting any joy with lenders.
I earn $35,000 p/a and have a rental income of $150.00 p/w
Where should I be looking?

4 years ago


Hi Anna

Sounds like you should be able to refinance here, based on face value of what you’ve advised. 5.6% is quite high.

I would suggest getting in touch with a broker, such as myself and we can drill down a bit deeper to find where there stumbling block may be, and find a solution. That does seem to be quite a low yield on the property, though. Is it NRAS or something?

Happy to have a chat.

Ben @ Aussie Unley

Hi Anne,

As Benjamin has mentioned on face value you should be able to refinance the property and secure a better rate than 5.6%.

The next step for you would be to speak with a Broker who can assist you by looking at all of your information. As brokers we have access to a number of lenders and connections which can help in securing a better deal for you.

If you would like to discuss this further, please feel free to get in touch 0431.156.001.


Hi Anne,
If I can ask quickly, is it that no one is offering you a better rate because of the 'investment property' aspect?
or is it something else?
How is your credit rating?
have you made more than four applications (for ANY sort of finance) in the previous six months?
or more than six applications (in total) in the last 12 months?
Any defaults, Judgments or overdue accounts? (are you sure? Get the details to check for free at www.FreeCreditRating.com.au)

Hopefully, it's nothing to do with your credit rating. If ever you are curious, I'm happy to step you through and explain what everything on your credit files means (there are four credit reporting bodies in Australia and they may all hold different credit rating information about you).

Thanks Anne, feel free to ask me anything, anytime!


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