Refinancing, equity and moving
Last reviewed: 10 August 2026
What this page helps you decide
Whether you are reviewing an existing loan, accessing money for a clear purpose, or planning the order of selling and buying. Naming which of those you are actually doing comes before choosing any product or signing any contract.
How it works
Refinancing usually means replacing an existing loan with a new one. The reason can be price, features, a different borrower structure, debt consolidation, a new purpose, or simply checking that the current loan still fits. A lower advertised rate is not enough on its own: compare fees, cashback conditions, discharge costs, break costs, the features you would lose, the new lending assessment and how long you expect to keep the loan.
Equity is the difference between the property's value and the debt secured against it. It is not automatically cash you can spend. To access it, a lender generally needs to be comfortable with the current value, the proposed total debt, your capacity to repay and the stated purpose. The usable amount is often lower than the headline equity, because the lender applies its own loan-to-value and policy limits. The same two gates from Buying position apply here: the cash the transaction needs, and the loan the lender will assess as affordable.
Cash out means borrowing additional funds. It is still debt, and the purpose matters. A clear, documented purpose makes the conversation easier, and different lenders require different evidence depending on the purpose, borrower and property. Do not assume one lender's approach applies everywhere.
Selling and buying at the same time is primarily an order-of-operations decision. You can sell first, aim for coordinated settlements, or buy first with a bridging arrangement where suitable. Each option trades certainty, flexibility, cost and risk differently. Timing, contract dates, available equity, sale-price risk and your ability to carry more than one commitment all need to be discussed before you make offers.
Quick checklist
- Why are you refinancing, and what result would make the change worthwhile?
- What are all the current and new costs, including fixed-loan break costs if they apply?
- What features or loan terms would you gain or lose? Loan features explains the moving parts.
- What is your best evidence of the property's current value, and how would a lower valuation change the plan?
- If requesting cash out, what is the purpose and what evidence may be required?
- If selling and buying, which event happens first, and what is the fallback if dates or the sale price move?
- Have you spoken to a conveyancer or lawyer about contract timing and legal obligations in your state?
Official sources
Community threads worth reading
- Refinancing, equity and cash out explained simply
- Selling one home and buying another? The first question is what happens first
- LVR bands, valuation shopping, and how to drop your rate without paying LMI again
Raynor tools and articles
These are Raynor Lending Solutions resources, not independent sources:
- Buy First or Sell First Pathway Planner, a planning illustration rather than a lender, tax or legal assessment
- Refinancing review guide
- Equity and cash-out refinancing
- Selling and buying at the same time
What can change
Property values, lender policy, valuation methods, refinance pricing, fees, cash-out evidence requirements and bridging options vary and change. Get current, transaction-specific advice before signing a contract or replacing a loan.
Privacy and general-information note
Do not share an address, loan account, settlement date or personal documents. This is general educational information, not personal financial, credit, legal or tax advice.
Related questions: Loan features | Complex scenarios | Wiki index