• The place to find the right expertise and make better decisions
  • Find the right expertise
Laina  O.
Laina O.
Coogee, NSW

What is the best interest rate I could possibly expect to negotiate if I refinance my home loan?

5 years ago


Hi there Laina,

It certainly depends on your specific situation as to what interest rates to negotiate.

Factors that influence the rate include:
1. loan amount
2. Lending ratio (lending up to 80% of the value of the property means you have access to cheaper rates)
3. principal and interest repayments or interest only repayments will also influence the rate.

Without knowing your personal situation and to give you an idea

Non bank / non major lenders can provide you with rates under 4.10% (and some products under 4%!) and major lenders you can get in the high 4% range.

Your personal situation and the products that are important for you will determine your rate so if you would like to discuss in more detail always happy to help.

Hope this has given you a good idea in any case.
Have a great afternoon
Nicole :)

Hi Laina,
That is a really good question.
The "best rate you can expect" would be determined by your credit worthiness & contributing factors such as:

1) Loan amount
2) LVR
3) Your employment
4) Fees & charges
5) Services
6) The flexibility of the loan

Your interest rate for an owner occupied property should be starting with a 3.

I hope this helps. Happy to discuss further.
Rebecca & Awesome Lending

There are a lot of variable before this question can be answered
Type of loan, owner occupied or investment?
Type of repayments, interest only or principal and interest
Loan structure, variable fixed or combination
Features needed, offset or not etc

Happy to discuss further as needed

if your loan is less than 80% of the value and if it is only owner occupied. if you have payslips or 2 years tax returns if self employed. you should be able to recieve a variable interest rate of 4.04% with an annual fee of $198. comp rate of 4.05%. an example of 3yr fixed rate is 4.09% with a 4.52% comp rate. if you would like to query me for more details give me a call. 0407316648 cheers

Hi Laina. That depends at least in part on the quality of the broker you choose to use.

Hi Laina,

If you tick all of the right boxes, comparison rates for owner occupied properties can start as low as 4.05% for loans ranging from $150,000 - $500,000 or 4.03% for loans over $500,000.

It's really important you take into consideration comparison rates vs advertised rate. Comparison rates take into account the interest rate as well as fees and charges relating to your loan. Advertised or headline rates generally don't take into account any other charges incurred.

Per previous answers, there are quite a number of variables to consider. A proper product comparison can be provided once a broker or financier has a better understanding of your current situation and your future goals/needs.

Have a great day!

Hi Laina O, Usually when I am asked a question like yours I respond with "what is your definition of best". Interest rates are generally based on aggregate loan size and some lenders also throw into the mix the Loan To Value ratio. I could quote you a rate of say 3.99% for arguments sake but your particular scenario might not fit the lenders requirements so to be able to realistically answer your questions we would need to know the Loan Size and value of the Security property and then on top of that we would need to understand what features and benefits are important to you to then be able to determine what might be the "best" rate or loan for you. I hope this makes sense and helps. Cheers, Rob

Hi Laina - HSBC currently offer 3.55% p.a. variable for Australian residents, owner occupied loans. No ongoing fees and this is not a honeymoon rate offer. This is one of the lowest rates available! If you would like to discuss further please contact me 0466571178 or emily.faith.robertson@hsbc.com.au

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>