If you own a home around North Shore Sydney, from Forestville, Chatswood to Cremorne — there's a good chance you’re paying more interest than you should be. With recent changes in cash rates and intense competition among lenders, home loan refinancing on the North Shore Sydney is something every homeowner should be thinking about in 2025.

According to the latest data from the Australian Bureau of Statistics (ABS), the average interest rate on new owner-occupied home loans in NSW has dropped to 5.8% in 2025, while many older loans are still sitting above 6.5%. That’s a huge gap — and it could be costing you thousands each year.

Let’s break it down. This guide walks you through how refinancing works, when it's worth it, and what to consider, all with a local North Shore lens.

Please note: The interest rate could be lower than when we published this article, please just contact our team here for the latest rates and options.

Let's get started.

What Is Home Loan Refinancing and Why Should You Consider It?

Refinancing is simply switching your existing home loan to a new lender or new loan product — ideally with a better rate or better features. If your current rate starts with a 6 or higher, refinancing could be a smart move and we’re seeing local homeowners across suburbs like Northbridge and Frenchs Forest save $5,000+ a year by refinancing in 2025.

Refinancing is also how you can get access to equity, please just contact us here if that's what you need, because at Sabea Financial we have access to over 60 lenders across the market, there's no shortage of options.

You might refinance to:

• Lower your interest rate
• Reduce your repayments
• Access your equity
• Consolidate debts
• Switch from variable to fixed (or vice versa)
• Get more flexible loan features
  
  
  

How Do You Know If Refinancing Is Worth It?

f you answered yes to any of the below, it's time to explore home loan refinancing in North Shore Sydney with a broker who knows your area like the Sabea team. Remember, even a 0.5% drop in your rate can save thousands over the life of your loan.Here’s a quick way to check if refinancing makes sense for you:I

• Has it been more than 2 years since you reviewed your mortgage?
• Is your rate above 6%?
• Have your financial circumstances improved?
• Do you want better loan features or flexibility?
• Are you planning renovations or a big purchase?

What Are the Best Refinancing Options in North Shore Right Now?

With rates moving frequently in 2025, some lenders are offering cashback deals and discounted rates to win your business. Local lenders have been particularly active in offering competitive refinancing rates to North Shore residents.

At the time of publishing this, some of the most competitive options we’re seeing include:

• Fixed rates starting from 5.45%
• Variable rates from 5.65%
• Cashback incentives up to $3,000
• Fee-free refinancing packages

Of course, the best loan for you depends on your personal circumstances - income, equity, credit score, and goals. That’s why a local mortgage broker broker makes such a difference.

What’s the Process of Refinancing Your North Shore Home?

Refinancing may sound overwhelming, but the process is quite straightforward when done with a broker.

Here’s how refinancing generally works:

1. Review your current loan — Know your rate, remaining term, and repayments.
2. Compare your options — With access to over 60 lenders, we’ll do the legwork.
3. Apply for the new loan — We’ll handle the paperwork.
4. Get loan approval — Your new lender will assess your application.
5. Loan settlement — Your old loan is paid out, and your new one begins.
   
   

Note: It usually takes around 2–4 weeks, depending on the lender’s turnaround times. And yes, you can still refinance if you’re on a fixed rate, but break fees may apply.

What Are the Costs Involved in Refinancing?

Yes, there can be some costs involved in refinancing, but many lenders offer cashback or fee waivers to offset them. Don’t let fees put you off. In most cases, if the numbers stack up, you’ll recoup those costs in under 12 months from the savings on your new rate.

We can always calculate the total cost-benefit before recommending any refinancing move, so there really is nothing left to lose and a lot to gain by seeing if you can get a better rate.

Typical costs include:

• Discharge fee from your current lender (around $150–$500)
• New application fees (some lenders waive this)
• Property valuation (often free through brokers)
• Legal and settlement fees (usually under $500)

Is It Better to Use a North Shore Mortgage Broker or Go Direct?

Going directly to a bank seriously limits your options, they’ll only offer you their products, and they’re unlikely to tell you if another lender has a better deal.

By working with a local North Shore mortgage broker like Sabea Financial, we have access to 60+ lenders and make the research and negotiations smooth and hassle-free. You don’t need to chase paperwork or sit on hold for hours.

Here's why around 80% of Australian refinance with a mortgage broker like Sabea:

• Access to a wider range of lenders, we've access to over sixty
• Expert advice based on your unique situation and goals
• Unbiased guidance on fees, features, and comparisons
• A dedicated person looking out for your interests — not the bank’s
  
  

What Are the Benefits of Refinancing in Today’s Market?

With property prices on the rise again, many North Shore homeowners now have more equity to play with — opening the door to better rates.

There’s never been a better time to shop around and refinance, here’s why:

• Interest rates are stabilising after a few volatile years.
• Lenders are competing hard for your business.
• North Shore property values are climbing again (up 4.2% in Q2 2025, CoreLogic).
• Equity unlock options let you fund renovations or investment purchases.
• You can restructure your loan for greater flexibility or lower risk.
  
  

What Should You Watch Out for When Refinancing?

While refinancing can be a smart move, there are a few traps to avoid:

• Break costs if you’re on a fixed rate
• Extending your loan term unnecessarily
• Jumping at cashback offers without comparing the real costs
• Applying too often (hurts your credit file)

Always check the comparison rate, not just the advertised rate — and make sure the overall loan cost stacks up over time. That’s where expert advice pays off.

FAQs: Home Loan Refinancing North Shore Sydney

Can I refinance my home loan even if I just bought my house?
Yes, but most lenders prefer at least 6–12 months of repayment history unless you’re refinancing for a specific reason.

Will refinancing hurt my credit score?
Not usually, but, too many applications in a short period can reduce your score temporarily.

How long does the refinancing process take in 2025?
Generally 2–4 weeks, depending on the lender and complexity of your situation.

Is it worth refinancing if I’m on a fixed rate?
It depends on your break costs. We’ll do the maths and show you if the savings justify the switch.

Are there lenders offering cashback for refinancing in 2025?
Yes, many are offering up to $3,000 cashback. Offers change monthly, so timing is key.

Can I access equity during refinancing?
Absolutely. You may be able to borrow more to fund renovations, investments, or consolidate debts.

What documents do I need to refinance?
You’ll need recent payslips, ID, bank statements, current loan details, and proof of expenses. We’ll guide you through every step.

Thinking About Refinancing? Let's Make It Happen

Refinancing your mortgage might feel like a hassle - but in reality, it could save you thousands in interest, reduce your repayments, or help you access much-needed equity. With local property prices rising and rates becoming more competitive, 2025 is a great time to revisit your loan.

At Sabea Financial, we specialise in home loan refinancing in North Shore Sydney. We know the local market, the lenders, and how to structure loans that work in your favour.

Call us today on 1300 001 755, email info@sabea.com.au, or visit our homepage to book your free consultation. Let’s find a better home loan for your future — starting now.