Refinancing › Does refinancing affect my credit score?

Does refinancing affect my credit score?

Each application creates a credit enquiry, which can have a small short term effect, so applying to many lenders at once is unwise. A single well matched application, with the loan paid on time afterwards, has a minimal lasting impact for most people.

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

Why this matters

Credit enquiries are a real but often overstated concern. The damage comes from scattering applications across many lenders hoping one sticks, not from a single considered refinance. This is one reason working through a broker, who matches you to a likely lender first, can protect your file.

The key points

Each application is a credit enquiry.
Many applications at once can hurt your score.
A single well matched application has minimal lasting impact.

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More refinancing questions

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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.