Yard provides low rate home loans, with a simple and fast refinancing process.
Switch your mortgage to Yard on a lower interest rate and start saving money today.
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Combine multiple debts into one home loan to pay a lower interest rate overall and simplify your finances.
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Unlock equity in your property by releasing additional funds for a home renovation, buying a second property, or using the money for other things.
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Refinance your home loan to access more flexible home loan features such as unlimited redraw or an offset facility.
Read moreYou can make free, unlimited additional repayments on our variable home loan. This means you can pay off your loan faster and save on interest.
Having an offset account linked to your Yard Home Loan allows your savings to lower the amount of interest you pay on your home loan.
If you've made extra repayments onto your variable rate Yard Home Loan, you can redraw these for free through our online portal.
We offer variable, fixed and split home loans. You can also select different repayment options such as principal & interest or interest only.
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Apply online with our easy online home loan application. A dedicated Loan Consultant will give you a call to discuss your refinance objectives and help find the best solution for you.
We verify your information by receiving some supporting documentation, e.g. payslips, bank statements or tax returns. We also perform a valuation on your property. We will do an online valuation but if there is no sufficient data, the valuer needs to do a physical visit of your property.
Our credit team reviews your information and makes an assessment on your application.
Our solicitors send you the loan contract via email. Your loan consultant will prepare and send a loan discharge form to your existing lender. Now it is time for settlement, our solicitors will work with your current lender to refinance your home loan!
Make sure you are not overpaying on your home loan by regularly looking at how refinancing might help you.
There are several steps to refinancing your home loan:
- Review your current home loan – your interest rate, fees you are paying, remaining loan term, loan conditions (e.g. costs to exit your loan), future plans and objectives
- Compare home loans – interest rates, fees, features and flexibility
- Apply for a new home loan and provide the required supporting documentation
- Sign your new home loan contract
- Your new lender will work with the existing home lender to settle the loan
Refinancing your home loan involves paying out your current loan with a new one. You might want to do that for a number of reasons, e.g. obtain a lower rate, access equity in your home to get cash out or consolidate debts into your home loan to simplify your finances.
There are typically no restrictions on when you can refinance your home loan. You need to make sure that you meet the requirements of the lender and their eligibility criteria. Some of the eligibility criteria involve borrowing capacity, having sufficient equity in your home and good credit history.
There is a range of reasons you may consider refinancing from saving money on mortgage repayments to consolidating your debts or even accessing your equity. The most common reasons for refinancing include:
- Switching your mortgage to a lower interest rate to save money
- Consolidating debts into your home loan
- Releasing equity and get cash out for renovations, to buy a second property or another reason
- Access new loan features, e.g. flexible repayments, unlimited redraw or an offset facility
Yard can process a refinance for you in 3-4 weeks.
There are no rules on how often you should refinance your home loan. When you refinance, you need to make sure there is a benefit to you and that you meet the credit requirements of the lender. It is important to understand the costs associated with refinancing and ensure that these do not outweigh the savings you will receive from refinancing.
With the Yard Home Loan, you can achieve your goals:
• Purchase a new home or investment property
• Refinance to save money
• Take cash out for a personal or investment use (e.g. renovate, have a holiday)
• Consolidate debts to a cheaper rate into your home loan
• Release equity
We can accept the following property types:
• Houses, apartments and town houses
• Rural residential and hobby farms
• Off-the-plan purchases
Yes, we can lend to applicants who are employed (PAYG) as well as self-employed. For self-employed borrowers, we typically require 2 years of trading history under the same ABN. Professionals (e.g. Doctors, Lawyers, Accountants, IT Professionals) who have recently become self-employed and have traded under an ABN for at least 6 months can be considered.
Yes, Yard provides vacant land and construction loans.
Click ‘Apply now’ - it takes as little as 15 minutes to provide Yard with information about your home, your finances and how much you'd like to borrow. You can also select to make an appointment with a Loan Consultant to discuss your requirements at a time that suits you by clicking on ‘Talk to an expert’. We'll contact you via email or phone to discuss your application. This is your opportunity to ask us questions and design your loan. Once you're comfortable a Yard loan is right for you, simply provide the required documents for assessment via our document portal. If successful, we'll arrange the loan.
We consider your time, your circumstances and your wallet
