We make refinance easy.

Bheja does the heavylifting. You enjoy the benefits of lower rates.

Experts suggest reviewing your mortgage at least annually

A 0.25% rate cut may save $75+ monthly

5M+ mortgages still on high rates

Nearly 1M mortgages refinanced since 2022

Get matched with suitable home loan deals from 100+ providers.

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Check Potential Savings

You could save thousands on repayments with a lower rate. Check your mortgage health now.

Most users find a better mortgage rate with our platform.

Users who refinance can enjoy significant monthly savings.

Fast, personalised product matching in minutes.

Why refinance with Bheja?

Without Bheja

  • Overwhelming comparisons across multiple products
  • Generic, one-size-fits-all approach
  • Time-consuming and confusing process
  • Difficult to identify the best deal

With Bheja

  • No endless comparisons – instant product matches
  • Personalised recommendations tailored to you
  • Fast, seamless, and hassle-free process
  • AI-powered insights for smarter refinancing choices

Refinance to

Meet Sarah

1. Background

Sarah had been with the same bank for eight years, with a home loan of $600,000. She was on a variable rate of 6.20% p.a. but noticed the bank was offering new customers rates as low as 5.70% p.a.

2. Current Situation

She called her bank to request a lower rate, but they refused to match the offer. Despite her long-standing relationship with them, she wasn’t getting the best deal.

3. Action Taken

Sarah decided to refinance to another lender offering 5.65% p.a. (comparison rate 5.90% p.a.). This move saved her over $300 per month, proving that loyalty doesn’t always pay in banking.

Financial Impact

Previous Monthly Repayment (at 6.20% p.a.)$3,704
New Monthly Repayment (at 5.65% p.a.)$3,460
Monthly Savings$244

Notes on calculations:

  • The monthly repayments are estimates based on standard mortgage calculations.
  • The savings are calculated as the difference between the previous and new monthly repayments.
  • Calculations assume a remaining loan term of 30 years unless otherwise specified.

Disclaimer:
These case studies are hypothetical examples only and are for illustrative purposes. Refinancing may come with costs such as break fees, discharge fees, application fees, and valuation fees, which could impact potential savings. Interest rates, fees, and loan terms vary between lenders, and individual financial situations differ. Before refinancing, carefully compare costs and benefits to ensure it aligns with your financial goals. Always seek professional advice where necessary

Pravin

Pravin Mahajan

Founder

Updated on 17 Apr 2025

What is refinancing?

Refinancing simply means replacing your existing home loan with a new one. Think of it as shopping around for a better deal on your mortgage. You can refinance with your current lender or switch to a completely new financial institution. The goal is usually to secure loan terms that better suit your current financial situation and future goals.

Why may people consider refinancing? test

Refinancing can offer a range of significant benefits. It's essential to understand these potential advantages to determine if refinancing is the right move for you. People consider refinancing for various reasons, including:

Lower interest rates

Refinancing to a lower rate can reduce your monthly repayments and save you thousands over time. You could also pay off your loan faster by keeping repayments the same.

Access to equity

Refinancing lets you tap into the equity built up in your home. You can use this for renovations, investments, or other large expenses.

Debt consolidation

Refinancing can help you roll multiple debts into your home loan to simplify repayments. You may also benefit from a lower overall interest rate.

Flexible loan Features

New loans may offer features like offset accounts, redraw, or extra repayments. These can help you save on interest and manage your loan better.

Better service and convenience

If your bank isn’t meeting your needs, you may want to switch to one that offers better service.

Access better benefits

Some lenders may offer cashback, fee waivers, or discounts to attract new customers.

When is the right time to refinance?

Refinancing your mortgage can be a powerful tool for achieving your financial goals, but it's not always the right move. To make an informed decision, you need to carefully consider your individual circumstances, current market conditions, and the potential costs and benefits involved.

Before you refinance: Know where you stand

Refinancing can offer real financial benefits—but it’s not one-size-fits-all. Taking the time to assess your current financial position and define your goals will help you make smart, strategic decisions that support your long-term financial wellbeing.

When to avoid refinancing

While refinancing can offer several benefits, it may not be the right option for everyone. For instance, if you plan to sell your home in the next few years, you may not stay long enough to recoup the costs associated with refinancing through lower monthly payments. Similarly, if your current mortgage rate is already close to market rates, it's wise to crunch the numbers and compare your potential savings against refinancing costs to determine whether it’s a smart move for you. 

Calculating your break-even point—how long it will take for you to recover refinancing costs through savings—can help you make an informed decision, particularly when seeking additional savings. Understanding these factors will empower you to make a more strategic choice regarding your mortgage and financial future.

Checking your credit score is equally important. If your credit score has dropped since you took out your home loan, securing the best rates in the market may become challenging. In such cases, consider improving your credit score before applying for refinancing or any additional debt. If you’re planning to refinance because you’re struggling with repayments, it’s worth speaking to your lender to explore options for managing your mortgage better. While refinancing can save money, if you’re experiencing severe financial stress, consulting a financial counsellor may be a better first step to address your situation comprehensively.

Steps to Refinance Your Home Loan

Smarter choices start with clearer thinking — and that’s where Bheja comes in.

If your home loan no longer fits your life, refinancing could help reduce repayments, unlock equity, or get better features. But with so many options and hidden trade-offs, it’s easy to feel stuck.

Bheja cuts through the noise. We don’t compare loans — we process your financial profile and surface the best options, using data, not sales incentives.

Here’s how refinancing works, with Bheja by your side.

1. Know Why You’re Refinancing

Are you chasing lower repayments, switching from fixed to variable, or looking to fund renovations?
Your reason shapes your best next step — and Bheja tailors recommendations accordingly.

2. Ask Bheja

No more guesswork!
We analyse your current loan, financial situation and goals — then use smart algorithms to suggest better-fit options. No commissions. No product pushing. Just answers.

3. Compare With Context

If a better deal is available, we’ll show you:

  • How much you could save
  • What features matter (offset, redraw, flexibility)
  • What switching might cost upfront

Everything in plain language, not fine print.

4. Make the Move

Once you decide, your new lender handles most of the switch — including paying out your old loan.
Bheja keeps things simple by helping you understand the process before you start.

Why pay more than you have to

Bheja puts you in control!

Whether you want to lower repayments, pay off your mortgage faster, or just make sure you're not overpaying, Bheja’s mortgage health check makes it easy, fast, and stress-free.

Pravin

Pravin Mahajan

Founder

Pravin Mahajan is a seasoned technology leader with deep expertise in financial innovation and product strategy. He focuses on leveraging AI and automation to streamline financial processes, making them more accessible and efficient. Passionate about digital transformation, Pravin drives innovation in fintech, helping businesses and consumers adapt to an evolving financial landscape. His insights on technology, finance, and product strategy are widely recognised in industry forums.

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