Last Updated: 28th April, 2023

Keystart is a transitional lender who encourages customers to refinance to another lender when they are ready to do so. It helps you start down the path to house ownership with its reasonable upfront costs, which include a small deposit and no lender’s mortgage insurance.

So, here’s everything you need to know when refinancing your Keystart home loan.

Why refinance your Keystart loan?

By refinancing your Keystart home loan, you can:

  • Reduce the interest rate on your home loan by up to 0.5% to 1.10%.
  • Turn your home into an investment property as Keystart does not allow this.
  • Get your new home loan packaged with other financial services products to get a better deal such as credit cards, offset account or free 24/7 online redraw facilities.
  • Pay off your home loan years earlier by essentially making the same repayment on the new home loan or reduce your monthly repayments to free up some cash.

Over the next few days, you’ll receive additional guides to help you on your refinancing journey. Occasionally, you’ll receive carefully curated home-buying tips, cashback offers and news articles. You can unsubscribe any time you want. View our Privacy Policy

When should you refinance a Keystart home loan?

You should refinance as soon as you’ve built up enough equity in your property and as soon as you can mainly because of Keystart’s high-interest rates among other reasons.

How high is Keystart’s home loan interest rate?

Keystart calculates the interest rate charged on their home loans by using the average of the standard variable rate of the four major banks namely, ANZ, Westpac, CBA and NAB.

That means their interest rates are often quite high compared to standard home loan rates. In fact, 95% of our borrowers get a discount well below the standard variable rate.

You can check out the current special interest rates on offer by our lenders here.

How To Refinance To Another Lender

Unlike other lenders, Keystart encourages you to refinance with a different lender once you are prepared and have some home equity. After you have accrued equity, you might be able to negotiate a cheaper rate with a different lender. Tips