Finance
Property refinance with private and non-bank lenders
A property refinance replaces an existing loan with a new one, often from a different lender. Owners refinance to extend a term, change structure or release cash. Private and non-bank options exist when a bank cannot help, but they usually cost more.
Written by Richard Goodwin, Founder and author, PrivetReviewed by Privet Team, Editorial review team, PrivetLast reviewed 23 October 2026
Types of property refinancing
- Private property refinance when a bank is not an option
- Residential property refinance on an investment home
- Investment property refinance on a portfolio
- Short-term refinance to bridge to a longer-term lender
- Business loan refinance and business-purpose refinance for secured business debt
When to refinance investment property
Owners often refinance investment property loans before a term ends, when a fixed rate expires, or when a lender reviews the facility. Check break costs and exit fees on the current loan first.
Urgent property refinance
People who need to refinance property quickly, or arrange an urgent property refinance after a default notice or maturity, should prepare statements, a valuation and a clear exit. Some choose to refinance with private lender funding; others refinance with non-bank lender funding. Some lenders advertise very fast turnaround. Treat any speed claim as a marketing claim to test, not a promise.
Cash-out refinance
A cash-out refinance replaces the loan with a larger one and pays out the difference. A property cash-out refinance increases the loan-to-value ratio and total interest, so run the numbers with the repayments calculator. A second mortgage is an alternative that keeps the first loan.
| Option | Keeps first loan? | Main trade-off |
|---|---|---|
| Full refinance | No | Break costs, new terms on all debt |
| Cash-out refinance | No | Larger loan, higher LVR |
| Second mortgage | Yes | Higher pricing on the second loan |
| Caveat loan | Yes | Very short, weaker security |
Documents lenders ask for
- Current loan statements
- Rates notice or valuation
- Identification and entity documents
- Income or alternative evidence
- Exit plan
Frequently asked questions
What does refinancing cost?
Typically application, valuation and legal fees on the new loan plus discharge, exit or break costs on the old one.
Can I refinance with arrears?
Some private lenders consider it, usually at higher cost. Get advice and talk to your current lender about hardship options too.
Is a cash-out refinance better than a second mortgage?
It depends on rates, break costs and how long you need the money. Compare both.
How long does a refinance take?
It varies with valuation, documents and the discharging lender.
Does Privet refinance loans?
No. Privet explains options and lets you send one enquiry to finance providers.
Related guides
- Second mortgage loans in Australia
- Caveat loans in Australia
- Property equity release
- Refinancing a short term loan
Glossary: refinancing, break costs, loan to value ratio
Run the numbers
Test cost and timing with the matching calculator before you speak to anyone. Then send one enquiry to finance providers.
Cite or share this guide
Privet (2026). Property refinance with private and non-bank lenders. Retrieved from https://privet.com.au/finance/property-refinance
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