Change Loan Term

Take Control of Your Home Loan with Flexible Term Options That Match Your Financial Goals and Lifestyle

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from 96 Reviews

Change Loan Term

Your financial situation isn't set in stone, and neither should your home loan be. When you change loan term arrangements with Aviser Finance, you're taking an important step towards better financial control and payment flexibility that works for your current circumstances. Whether you're looking to extend your loan term to lower monthly payments or reduce your loan term to pay off faster and save on interest, understanding your loan term options is essential for making informed decisions about your mortgage. We help clients in Melbourne, Victoria and across Australia access home loan options from banks and lenders across Australia, ensuring you find the right solution for your unique situation.

Many homeowners don't realise that modifying their loan term can dramatically impact their financial wellbeing. When you extend your loan term, you spread your loan amount over a longer period, which typically results in lower monthly repayments and improved cash flow. This can be particularly valuable if you're managing other financial commitments or want more breathing room in your budget. Alternatively, if you're in a stronger financial position and want to reduce your loan term, you'll pay off your mortgage faster and achieve significant interest savings over the life of your loan. A 25 year loan versus a 30 year loan might only differ by five years, but the difference in total interest paid can be substantial. Aviser Finance takes the time to perform detailed loan term calculations so you can see exactly how different loan term options will affect your financial future.

The refinance change term process involves more than just picking a new number of years. It requires careful consideration of your interest rate options, including whether a variable interest rate or fixed interest rate better suits your circumstances. When you change term refinance with Aviser Finance, we analyse how different interest rates interact with various loan terms to maximise your loan term benefits. Our loan term comparison service shows you real numbers based on your actual loan amount, helping you understand whether you should shorten your term to reduce the total interest paid or extend your term to reduce repayments and free up cash for other investments or expenses. This level of personalised analysis ensures you're making decisions based on facts, not guesswork.

Payment flexibility is one of the most valuable aspects of changing your loan term, and it's something that Aviser Finance prioritises for all our clients. Life circumstances change - you might receive a salary increase, start a family, face unexpected expenses, or approach retirement. Each of these situations might call for different loan term arrangements. By working with experienced brokers who understand the full range of loan term options available across Australia's lending market, you gain access to solutions you might not have known existed. We don't just look at one or two lenders; we explore the entire landscape to find lenders offering the loan term flexibility you need, whether that means the ability to extend your loan term later if needed or options to make extra payments to reduce your term without penalties.

Making the decision to change your loan term is about more than numbers on a spreadsheet - it's about aligning your mortgage with your life goals and achieving genuine financial control. Aviser Finance understands that every client's situation is different, which is why we never take a one-size-fits-all approach. When you book a free consultation with our team, we take the time to understand your current loan structure, your financial objectives, and your future plans. From there, we can show you exactly how different loan term scenarios would work for you, whether you're looking to reduce your term to save interest, extend your term to lower repayments, or find the perfect balance between the two. Our expertise in the Australian lending market means we can navigate the complexities of refinancing on your behalf, making the entire process straightforward and stress-free.

Our Refinancing Process

1. Initial Consultation

Your journey begins with a free, no-obligation chat. We take time to understand your current home or investment loan, how much time is remaining on your term, and what you are hoping to achieve by changing it, whether that is reducing your monthly repayments by extending your term, or paying your loan off sooner by shortening it. We also take into account whether the property is owner-occupied or an investment, as this affects the loan structures and lender options available to you. This conversation helps us understand your situation and identify whether changing your loan term is the right move for you.

2. Review of Your Current Loan

We take a close look at your existing loan, including your current interest rate, remaining term, outstanding balance, and whether you are on a variable, fixed, or split rate. For investment loans we also review whether you are on a principal and interest or interest-only structure, as this plays an important role in determining your options. We identify any break costs, discharge fees, or early exit penalties that may apply. Understanding exactly where you stand with your current lender is the starting point for calculating what a change in term could mean for your repayments and total interest paid.

3. Financial Assessment

We conduct a thorough review of your income, expenses, assets, and liabilities to confirm your current borrowing capacity. For investment loan holders we also take rental income into account, as this can significantly affect your serviceability with different lenders. Whether you are looking to extend your term to ease financial pressure or shorten it to build equity faster, this assessment ensures we match you with lenders and products that suit your current circumstances. You will typically need your driver's licence, recent payslips or tax returns, bank statements, your current loan statements, a recent council rates notice, and rental statements if the property is tenanted.

4. Strategy Development

We develop a tailored strategy based on your goals, your property type, and your reason for wanting to change your loan term. For owner-occupiers looking to extend their term we model the impact on monthly repayments against the additional interest paid over the life of the loan, ensuring the trade-off is clearly understood. For investors an extended interest-only term may better suit cash flow needs and tax strategy, while shortening the term on an owner-occupied property can help build equity faster and reduce total interest costs. We also consider whether features such as an offset account or redraw facility could help you achieve a similar outcome without formally changing your loan term.

5. Loan Recommendations

We present clear, easy-to-understand options showing exactly how each term scenario would affect your monthly repayments, total interest payable, and the overall cost of your loan. For investment loans we also outline the differences between principal and interest and interest-only structures and how each affects your cash flow and tax position. We compare options across variable and fixed rate products and explain the long-term financial impact of each choice in plain English, so you can make a fully informed decision with no pressure and no jargon.

6. Application Preparation

Once you have selected your preferred option, we handle all the paperwork and prepare your application carefully before submission. We liaise with your existing lender to obtain a full payout figure and check whether your current lender is able to accommodate a term change directly, which may simplify the process. Where a full refinance to a new lender is required, our team prepares everything needed to give your application the best possible chance of approval.

7. Lender Negotiation

We submit your application and manage all communication with the lender on your behalf. Our established relationships with banks and financial institutions often allow us to negotiate better rates and terms than you may be able to access directly. For investment loans in particular, lender appetite and pricing can vary significantly, and our knowledge of the market ensures we find the most competitive and suitable option available. We keep you informed throughout the entire process.

8. Settlement and Loan Transition

We coordinate the discharge of your existing loan and the settlement of your new arrangement, ensuring the transition is seamless with no gaps or overlap in repayments. We review all final loan documents with you, explain the new terms clearly, and make sure you are comfortable with the long-term implications before anything is signed. For investment loan holders we recommend discussing the final loan structure with your accountant to confirm it aligns with your tax strategy. We remain available after settlement to assist with any future finance or property needs.

About Aviser Finance

Aviser Finance is a property finance brokerage based in Melbourne. We exist to help you turn your ambitions into reality. Whether you are buying your first home, growing your investment portfolio, refinancing to save money, or exploring construction and business finance, we evaluate your circumstances and recommend the best options available to you.

We do more than find the right loan. We advocate on your behalf, present your proposal to the most suitable lenders, and manage the entire process from start to finish. You receive a personalised finance plan, explained clearly in plain English, and you are kept informed every step of the way.

Even after your loan settles, we are here to answer your questions and help you make the most of your investment. We build life-long relationships with our clients, because your goals are at the centre of everything we do.

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Client Reviews

My experience with Aviser was nothing but positive - I knew I was in safe and knowledgeable hands. Everything moved quickly and my loan was secured with minimal hassle. Thanks to the team for a seamless experience.

Rebecca Hyde

The team at Aviser were so helpful, they listened to our needs followed through. They were extremely organised and we really appreciated their attention to detail. Essentially, they looked after their end and left us to take care of ours. We would highly recommend them!

Liz Mascia

I can't recommend the team at Aviser highly enough. I appreciated Martin's in-depth knowledge, professionalism, and the time he took to answer questions (and I had many!) Information provided was always easy to understand and my options were made clear. In fact the whole experience from beginning to end ran smoothly and was stress free. I would use Aviser again in the future without hesitation.

Elle Watson

Without using an Aviser broker we feel we wouldn’t have secured a mortgage, as Avisor had the knowledge and expertise to negotiate in a way that we couldn’t. Thanks so much guys...will definitely use you again and recommend you to friends.

Rebecca Ackermann

Frequently Asked Questions

Can I refinance my existing home loan through Aviser Finance?

Yes, refinancing is one of the key services we provide at Aviser Finance. Whether you're looking for a lower rate, accessing equity for renovations or investment, consolidating debts or switching to a loan product with features that better suit you, we'll compare options across our lender panel. We'll also explain any costs involved, such as discharge fees from your current lender, so you can make an informed decision.

How long does the mortgage application process take?

Full approval, including property valuation, typically takes between two to four weeks on average. Timeframes vary by lender and how complex your situation is, and having your documents ready early helps keep things moving. If you're buying, getting your borrowing capacity confirmed first gives you a head start.

What does a mortgage broker do?

A mortgage broker acts as an intermediary between you and potential lenders. We assess your financial situation, understand your property goals and compare loans from our panel of lenders across Australia, including major banks, credit unions and specialist lenders. We then handle the research, paperwork and negotiations to get your loan approved.

What documents do I need to apply for a home loan?

Generally, you'll need proof of identity such as your driver's licence and Medicare card, recent payslips or tax returns, bank statements, and details of any existing debts and assets. Requirements vary by lender and loan type, and we'll give you a checklist tailored to your situation.

What areas does Aviser Finance service?

Aviser Finance proudly services clients throughout Melbourne, across Victoria, and Australia-wide. Whether you're in Sydney, Brisbane, Perth, Adelaide, or regional areas, we can help you with your finance needs. We meet local Melbourne and Victoria clients in person and work with interstate clients by phone and video, whether you're in metropolitan Melbourne or rural Queensland.

Locally, our Brighton team works with borrowers across the City of Kingston, including Aspendale, Bonbeach, Clarinda, Heatherton, Parkdale and nearby Bangholme; the City of Port Phillip, including Elwood, Ripponlea, Balaclava and Port Melbourne; and the City of Bayside, including Sandringham and surrounding suburbs.

What types of loans does Aviser Finance assist with?

We help with home loans for first home buyers, next home buyers and those upgrading. We arrange investment property loans for those building their property portfolio, as well as land purchases, construction loans and commercial property finance, SMSF loans for buying property through your super, and equipment finance for business owners. We also assist with refinancing existing loans, debt consolidation and accessing equity in your property. We work with borrowers who have less than perfect credit history, self-employed individuals, and temporary residents.

How much does it cost to use a mortgage broker?

For most clients, using a mortgage broker often doesn't cost them anything directly. Aviser Finance typically receives commission from the lender once your loan settles. For complex commercial lending or unique financial circumstances, a fee for service may apply, and we'll always explain this upfront before any work begins.

Why should I use a broker instead of going directly to my bank?

Your bank can only offer their own products. As a broker, we compare a much wider range of loan products from our panel of lenders to find a loan that suits your goals. We also save you time by managing the application process and following up with lenders on your behalf, while protecting your credit score from multiple enquiries.

Can Aviser Finance help me if I'm self-employed?

Absolutely. At Aviser Finance, we have extensive experience working with self-employed individuals. We understand that self-employed borrowers often face additional challenges when applying for a loan, and we work with business owners, contractors and freelancers to present their application in the strongest way. Depending on the lender, you may need tax returns, business financial statements and accountant letters, whether you're a sole trader, in a partnership, or run a company.

What is the difference between pre-approval and formal approval?

Pre-approval, sometimes called conditional approval, is an initial assessment by a lender of how much you may be able to borrow, subject to property valuation and final verification. Formal approval, also known as unconditional approval, is granted once the lender has assessed the property and confirmed all your details. We recommend getting pre-approval before you start seriously looking at properties in Melbourne or elsewhere in Victoria.