Refinancing
Pay less, save more and own your home sooner!
Paying too much for your home loan? Refinancing can help. At Coastline Bank, our local expertise makes the process simple and hassle-free. Whether you want to reduce repayments, get a better rate or unlock your equity. Talk to us about our Variable Rate Home Loan option.
Key Features
Borrow up to 90% of the property value
Flexible repayment options
Loan period flexibility
Redraw facility (minimum $500)
Offset account
Unlimited extra repayments
Fees and requirements
Establishment fee $300
Monthly fee $8
To apply, you must be a minimum of 18 years of age
Why refinance with Coastline Bank?
Our competitive rates mean lower monthly repayments, saving you thousands over the life of your loan. You’ll also free up your funds for other financial goals.
Our competitive rates mean lower monthly repayments, saving you thousands over the life of your loan. You’ll also free up your funds for other financial goals.
Refinance with Coastline Bank and choose a loan term that fits you best. From shorter loan periods to reduce your interest to an extended period that fits your budget.
Refinance to tap into your home’s equity for renovations, investments or other goals. At Coastline Bank, we’re committed to helping you refinance on your terms.
At Coastline Bank, you’re more than a customer; you’re part of our community. Our experienced staff take the time to listen and offer a tailored approach that the bigger banks often can’t provide. We’re all locals living on the coast, and we’re here to guide you through the refinancing process.
Reduce the amount of interest you pay by taking advantage of our offset account. When you refinance to Coastline Bank’s Variable Home Loan, you’ll get access to this helpful feature at no extra cost.
Refinancing to the right home loan could save you thousands. Our friendly local team can show you your options and useful features to help you pay off your home faster. Whether you want to lower your interest rate, access equity, or find a more flexible loan term, we’re ready to help you make it happen.
How refinancing works
At Coastline Bank, we guide you through the refinancing process. Here’s how we find you the best home loan to match your financial goals.
1. Review your current home loan
Start by taking a close look at your existing home loan contract. Is your interest rate too high? Do your loan terms no longer suit your needs? If so, it might be a good time to consider refinancing.
2. Talk to our experts
Our team is committed to helping you find the right home loan. They'll help you weigh up the pros and cons and find out if refinancing makes sense for your situation.
3. Compare loan options
This step is all about finding the home loan that best suits your goals and financial situation. Whether you're looking for a lower rate, a flexible loan term, or useful features like redraw, or an offset account, we'll help you compare your options.
4. Apply and save
Once you've chosen the best refinancing option, it's time to start the application process. Our team will help you gather the necessary documents and complete the application. The sooner you get started, the sooner you can start saving!
When should I refinance?
If interest rates have dropped since you took out your home loan, refinancing could get you a better deal. Securing a lower interest rate reduces your monthly repayments, saving you money over the life of your loan. Even a tiny drop in the rate can make a big difference.
If interest rates have dropped since you took out your home loan, refinancing could get you a better deal. Securing a lower interest rate reduces your monthly repayments, saving you money over the life of your loan. Even a tiny drop in the rate can make a big difference.
Refinancing may help you shorten your loan term. Allowing you to pay off your mortgage faster. For example, switching from a 30-year loan to a 15-year loan will mean higher monthly repayments, but the long-term savings could be well worth the investment. It's also a good option for those seeking to build equity quickly.
If your home has increased in value, refinancing could allow you to access these funds. This is known in the banking world as equity. Accessing your equity by refinancing can be a smart way to fund home renovations, consolidate debt, or cover a large expense. Tapping into your home's value may also get you a lower interest rate than using a personal loan or credit card.
If your financial situation has changed, refinancing adjusts your home loan accordingly. You can opt for lower repayments if your budget is tight or shorten your loan term to pay off your home sooner. Refinancing allows you to reassess your current loan to make sure it aligns with your financial goals and lifestyle.
Banking
28 Jan
Offset accounts: A guide to saving thousands over the life of your loan
At Coastline Bank, we understand that every dollar matters when paying off your home loan. That’s why we offer our customers an offset account. This smart home loan feature is designed to help you save money by reducing the interest paid on your mortgage. Our helpful guide explains how an offset account works and how it can save you thousands over the life of your loan.
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General advice warning
This advice has been prepared without considering your personal objectives, financial situation or needs. Before acting on it, you should consider whether it’s appropriate for your circumstances. For more information – including terms and conditions, Product Disclosure Statements, Target Market Determinations or Financial Services Guides – please refer to the details under ‘Important information’ on the relevant product pages.
All loan applications are subject to credit approval. Interest rates are subject to change, and fees and charges may apply.