Refinancing › Should I refinance through a broker or my own bank?

Should I refinance through a broker or my own bank?

Your own bank can only offer its own products, while a broker compares many lenders to find a fit, usually at no cost to you because the lender pays the broker. Going direct is simplest, but it only ever shows you one option.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

Refinancing with your existing bank is convenient, but by definition it cannot tell you whether a better deal exists elsewhere. A broker exists to compare the market and handle the paperwork, and because the lender pays the commission, that comparison usually costs the borrower nothing.

The key points

Your bank only offers its own products.
A broker compares many lenders for a fit.
Broking is usually no cost to you, as the lender pays.

Free, no obligation

See if refinancing stacks up for you

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Check Your Options

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What is your goal?

Buy a home or investment property First home, next home, or adding to your portfolio Build a house or develop land New build, renovation, duplex, or subdivision project Lower my current repayments Better rate, release equity, or restructure existing debt Finance an established commercial property Business premises or commercial investment asset

Tell us a bit more about the plan

How do you earn your income?

Standard salary or wage Full-time, part-time, or casual employment (PAYG) Self-employed or business owner Sole trader, company director, or contractor

How is your credit score?

This helps us match you to the right lender from the start.

Healthy No issues that I am aware of A few small marks A couple of late payments, now caught up Not sure, or it is complicated We work with specialist lenders for these situations

Last step. Where should we send your options?

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More refinancing questions

Back to the full Refinancing guide

Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.