Urgent Equity Release & Refinance

Equity is the difference between your property value and what you owe. A cash-out refinance replaces your existing loan with a larger one and releases the difference to you in cash. Because the whole facility remains secured against property, it prices at home loan rates rather than personal loan rates, which is why it is usually the cheapest way to access a large sum. It is not free money: you are increasing your mortgage and generally extending the period over which it is repaid.

Most lenders will lend up to 80% of the property value without lenders mortgage insurance. Take 80% of the valuation, subtract your current loan balance, and that is roughly the ceiling before LMI. Two things commonly reduce it: a lender-ordered valuation that comes in below your expectation, and serviceability, since your income has to support the full new balance at a buffered rate. Joseph Farhat and his team will give you a realistic figure before a valuation is ordered.

Yes, and it matters more than most borrowers expect. Cash-out purpose is the single biggest point of difference between lenders on this product. Renovation, investment deposits, and debt consolidation are widely accepted. Some lenders require documentary evidence such as a contract or quote, others accept a stated purpose up to a threshold, commonly $50,000 to $100,000. A few purposes are excluded outright by particular lenders. Telling us the real purpose at the start is what lets us go to the right lender first.

Yes, and it is one of the most common reasons people do this. The released funds form the deposit and costs on the new purchase. Worth knowing: where the purpose is investment, keeping the released amount as a separate loan split rather than merging it into your home loan keeps the borrowing purpose clean, which is generally simpler for your accountant at tax time. That is a structuring point rather than tax advice, and your accountant should confirm how it applies to you.

Every credit application is recorded on your file, and several in a short period read poorly to the next lender. Equity release is an easy place to trip over this, because borrowers often ask their own bank first, get a partial or conditional answer, and then start approaching others. We establish which lenders will release the amount for your purpose before anything is lodged, so your file carries one enquiry rather than several.

A comparison rate combines the interest rate with the standard fees into a single figure so two loans can be compared honestly. An advertised rate on its own can look sharp and still cost more once establishment, annual, and discharge fees are counted, and a comparison rate is only meaningful for a specific amount and term. On a refinance the fees matter more than usual, because you are paying to exit one loan and enter another. We quote your rate and comparison rate for your real numbers instead.

Yes. When we provide credit assistance on consumer lending we owe you a best interests duty. We make reasonable enquiries into your financial situation, requirements, and objectives, and we must not suggest or help you apply for a loan that is unsuitable for you. Where our interests and yours conflict, yours come first. Before we provide credit assistance you will receive our Credit Guide, which sets out our licence authorisation, how we are paid, and how to make a complaint.

Yes, we do. A default, an old arrears listing, or a thin credit file does not rule you out, and it is not something we will make you feel awkward about. Most people carrying a listing picked it up during a period they did not plan for, and it says little about the equity you hold today. Several lenders on our panel weigh the equity and the LVR far more heavily than the credit file, and price for the risk rather than decline it. Telling us early lets us approach the right lender first.

By interest rate, substantially, because the debt is secured by property. By total cost, not necessarily. Spreading a $40,000 expense across 25 years of mortgage at a low rate can cost more in total interest than a five year personal loan at a much higher one. A common way to get both benefits is to release the equity but keep making a higher repayment so the amount clears in a few years. We will model both so the comparison is on total cost, not just the rate.

Yes. Full-doc lending needs two years of returns and financials. Where those are not available, alt-doc and low-doc lending assesses you on BAS, business bank statements, or an accountant declaration instead, generally at a lower maximum LVR and a higher rate. If the purpose of the release is a business one, the loan may fall outside consumer credit regulation, which changes the documentation and the protections that apply. We will explain that difference clearly before you proceed.

Expect a discharge fee from your outgoing lender, an application or establishment fee from the incoming one, a valuation fee, and government registration costs. Some lenders waive several of these to win the refinance. If you are exiting a fixed rate early there may also be a break cost, which can be significant and is worth quantifying before you commit. We will total these against the benefit so the decision is made on a full picture.

Because purpose decides this product, and most borrowers never find out how much that varies. Most of the people we help are homeowners, investors, and self-employed borrowers who have built real equity and have been told by one lender that their reason for wanting it does not fit policy. Those situations are not unusual to us and there is no judgement in the conversation. What matters is the valuation, your serviceability on the larger balance, and what the money is for. Evidence thresholds and purpose policy differ enormously across the market, and knowing which lender releases what, on what evidence, is not something a borrower can easily find out. Our panel covers 90+ bank, non-bank, and specialist lenders. We are based in Sydney and work with borrowers Australia-wide. Joseph Farhat and his team will tell you honestly and early what is achievable.

No. We do not guide you on your finances, nor give financial advice. We focus on outcomes and solutions of presenting your unique scenario to the right lender so you can access funding in a timely and compliant manner.

Yes. Settled With Joe is based in Sydney but arranges equity release and refinancing Australia-wide, covering both metro and regional areas. We work with clients in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, as well as regional areas including Newcastle, Wollongong, Geelong, Gold Coast, Sunshine Coast, and Toowoomba. Location matters here because lending limits are commonly reduced for rural acreage and smaller regional centres, which directly affects how much equity is accessible. Joseph Farhat and his team will identify which lenders on the panel are the best fit for your property.