Loyalty Tax on Home Loans: How to Check If You Are Paying It
The gap between what long-standing borrowers pay and what new borrowers pay was real, it was measured by a competition regulator, and on older loans it reached more than a full percentage point. On the Reserve Bank’s latest figures that gap has closed to almost nothing across the market as a whole. Neither of those facts tells you anything about your loan, and this page is about how to find out.
The short answer
A loyalty tax on a home loan is the gap between the rate you pay on an established loan and the rate the same lender writes for a new borrower today. The ACCC measured it in 2020 and found that variable rate owner-occupier borrowers with loans between 3 and 5 years old were paying around 58 basis points above the average for new loans, rising to around 104 basis points on loans more than 10 years old. On the Reserve Bank’s latest figures, to July 2026, that market-wide gap has closed: the average variable rate on outstanding owner-occupier loans and on new owner-occupier loans is now the same to 1 decimal place. That is an average across the whole market, and averages include everyone who has already renegotiated. The only number that answers the question for you is the difference between your rate and what your own lender is writing today, which takes about 10 minutes to find and costs nothing.
What the loyalty tax actually was
The phrase is journalism rather than finance. No lender has ever charged a line item called loyalty. What the phrase describes is a measurable pattern: on variable rate mortgages, the longer ago a loan was written, the higher the rate tended to be, holding the type of loan constant.
This is not folklore. The Treasurer directed the ACCC to inquire into home loan pricing in October 2019. The final report went to the Treasurer on 25 November 2020 and was published on 5 December 2020, and it put numbers on the pattern using the Reserve Bank’s Securitisation Dataset.
| Age of the loan | Average rate paid | Above the average for new loans |
|---|---|---|
| Between 3 and 5 years | 3.20 per cent | Around 58 basis points |
| Between 5 and 10 years | 3.33 per cent | Around 71 basis points |
| More than 10 years | 3.66 per cent | Around 104 basis points |
| New loans, for comparison | 2.62 per cent | Not applicable |
Two things are worth noticing about that table before anything else. The first is the shape: the gap widens with age rather than appearing at some threshold. The second is how many people it applied to. The same report observed that as at December 2019, almost half of all variable rate loans had been originated at least 4 years earlier.
The ACCC also worked the arithmetic. On a loan balance of around $250,000, a rate 58 basis points lower saves over $1,400 of interest in the first year, and over $17,000 across the remaining term in net present value terms, on the assumptions the report set out.
Why it happened: a frozen discount
This is the part most coverage skips, and it is the part that tells you what to do.
Almost nobody pays a lender’s published standard variable rate. What you actually hold is a discount off that rate, negotiated once, at the moment your loan was written. The Reserve Bank described the consequence directly in February 2020: the discounts borrowers receive are usually fixed over the life of the loan, although they can be renegotiated.
Your discount was set on the day you signed. The market’s discount kept moving. The loyalty tax is not a surcharge that gets added to your loan. It is the distance your loan drifts from a market that carried on without it.
The Reserve Bank put a size on that drift. Average discounts to standard variable rates offered by the major banks on new variable rate mortgages widened from around 100 basis points in 2015 to more than 150 basis points in 2019. Its explanation of why is worth reading carefully, because it is the mechanism in a sentence: by increasing the discounts offered to new and refinancing borrowers over time rather than lowering their published rates, banks are able to compete for new customers without lowering the rate charged to existing ones.
That is not a conspiracy. It is what any business does when it can price new customers separately from existing ones, and it shows up in insurance, energy and telecommunications in the same shape. The mortgage version has one feature that makes it unusually sharp: the gap compounds silently across a 25 or 30 year term, and nothing in your monthly statement tells you it exists.
What the Reserve Bank data shows now
Here is where most articles on this subject are out of date, including the earlier version of this one.
Since January 2020 the Reserve Bank has published the average rate on outstanding loans and the average rate on loans newly funded each month, in Statistical Table F6, drawn from a collection covering lenders that account for around 95 per cent of credit outstanding. Subtracting one from the other gives you the market-wide loyalty tax, month by month. It has not been constant, and it is no longer what it was.
| Month | Outstanding loans | New loans | Gap |
|---|---|---|---|
| December 2019 | 3.6 per cent | 3.3 per cent | 0.3 points |
| December 2021 | 3.0 per cent | 2.6 per cent | 0.4 points |
| December 2022 | 5.5 per cent | 5.0 per cent | 0.5 points |
| December 2023 | 6.4 per cent | 6.2 per cent | 0.2 points |
| December 2024 | 6.3 per cent | 6.2 per cent | 0.1 points |
| December 2025 | 5.5 per cent | 5.5 per cent | Nil |
| July 2026 | 6.2 per cent | 6.2 per cent | Nil |
The Reserve Bank’s own summary page, which reports to 2 decimal places and includes both fixed and variable loans, tells the same story for July 2026 and in places inverts it. Across all owner-occupier housing, outstanding loans averaged 6.21 per cent and newly funded loans 6.24 per cent, so new borrowers paid slightly more. On principal and interest specifically, outstanding was 6.19 per cent against 6.16 per cent for new. On investment lending, outstanding was 6.44 per cent against 6.41 per cent for new.
Read that plainly, because it matters more than any rhetorical framing: as a market-wide average, the loyalty tax on Australian home loans is currently about zero. Anyone still writing that Australian borrowers pay more the longer they stay is describing 2020, not 2026.
Want the 10 minute version done for you?
Book a free 15 minute call. Bring your rate, your balance, your remaining term, your loan-to-value ratio and whether any part is fixed. We will tell you what the gap on your own loan is, and we will tell you plainly when it is not worth acting on. No application, no credit enquiry, no obligation.
Why a closed average is not a closed gap
Now the qualification, and it is the whole reason this page still has a job.
An average is a weighted blend of every loan in the market. It includes the borrower who renegotiated last month and the borrower who has not looked since 2018. When the blend moves to zero, that does not mean every loan in it sits at zero. It means the high ones and the low ones now cancel out. The distribution can be wide while the average is nil, and the ACCC found exactly that kind of spread when it looked at the distribution rather than the mean.
There is a second reason the average moved that has nothing to do with lenders becoming kinder. A new loan is priced the day it is written. An existing loan reprices only when the lender passes a change through, so the stock of existing loans always lags the market, and the direction of that lag flips with the rate cycle.
May 2023 shows how badly that can mislead you, and the Reserve Bank’s own data makes the point in a single month. On the series covering all owner-occupier loans, fixed and variable together, outstanding loans averaged 5.1 per cent against 5.7 per cent for new lending. Existing borrowers were apparently 0.6 points ahead. On the variable rate series for the same month, outstanding loans averaged 6.0 per cent against 5.7 per cent for new, so variable borrowers were 0.3 points behind.
Both figures are correct. What separates them is the stock of loans fixed at very low rates during 2020 and 2021, still sitting inside the outstanding average: in that same month, outstanding owner-occupier fixed rate loans with 3 years or less left to run averaged 2.7 per cent. A large block of cheap fixed debt dragged the headline average below the new-lending rate while the variable borrowers it was averaged with were going backwards. That was not loyalty being rewarded. It was composition.
The same lag runs the other way when rates fall, which is the condition under which the ACCC did its measuring in 2020. That is the part worth keeping: a falling cycle is when a frozen discount costs you most, and it is precisely when the story stops being in the news.
So the honest statement is narrower than either of the easy ones. The loyalty tax is not a permanent feature of Australian lending and it is not dead. It is a spread that opens and closes with the direction of the rate cycle and with how much attention borrowers as a group are paying. Right now it is closed on average. Your loan is not an average.
How to check your own loan in about 10 minutes
All of the above is context. This is the part that produces a number.
1. Find your actual rate. Not the rate you remember, and not the comparison rate. The current rate on your statement or in your lender’s app, expressed to 2 decimal places. If your loan is split, do each portion separately.
2. Find your lender’s current rate for a borrower like you. Go to your own lender’s website, not a comparison site, and find what they are advertising today for the same product type, same repayment type, and same loan-to-value band. Your lender is the right comparison because the question is whether you are being priced worse than their new customers, which is a different and more answerable question than whether a better rate exists somewhere in the market.
3. Subtract. That difference is your loyalty tax, in percentage points. It may be zero. It may be negative, in which case you are ahead and the correct action is nothing.
4. Convert it to money. Multiply the gap by your current loan balance. A gap of 0.40 points on a $600,000 balance is $2,400 a year before any compounding effect on your remaining term. That is the number to hold in your head, because percentage points are easy to dismiss and dollars are not.
5. Then ask. Ring your lender’s retention line and ask them to match what they are offering new customers on the same product. There is no application, no valuation and no credit enquiry. The worst outcome is that they say no and you have lost a phone call. Whether a lender adjusts anything is entirely at their discretion and depends on their policy, your loan and your circumstances, so nobody, including us, can tell you in advance what will happen.
The Reserve Bank observed in 2020 that rates on outstanding variable loans had fallen by more than published rates in part because well-informed borrowers negotiated a larger discount with their existing lender, without refinancing at all. That pathway is real, it is free, and it is the first thing to try.
The comparisons that make the number meaningless
Most people who do this exercise badly do it in one of 5 ways, and every one of them produces a gap that is not real.
Comparing interest only to principal and interest. These are different products at different prices and always have been. On the Reserve Bank’s July 2026 figures, outstanding owner-occupier interest only loans averaged 6.85 per cent against 6.19 per cent for principal and interest. If you hold an interest only loan and compare yourself to a headline principal and interest rate, you will find a large gap that is not a loyalty tax at all.
Ignoring the loan-to-value band. Most lenders price in tiers by loan-to-value ratio. If your balance has fallen and your property has risen, you may have moved into a cheaper tier without anyone telling you, which is a real and claimable gap. If you are still above 80 per cent, comparing yourself to a sub-60 advertised rate is comparing 2 different products.
Comparing a package loan to a basic one. Package products carry an annual fee and bundle features such as an offset account. A basic product is cheaper and does less. If the offset is doing work for you, the cheaper rate is not necessarily the better loan, and our guide to offset versus redraw covers why.
Including a fixed portion. A fixed rate is not drifting, because it is fixed. Comparing it to today’s variable pricing tells you about the rate cycle, not about your lender’s treatment of you. Assess fixed portions on their expiry date instead, and note that breaking a fixed rate early can carry a cost that dwarfs any gap, which we set out in how break costs are actually calculated.
Forgetting an introductory period expired. Some loans are written with a discounted rate for the first year or 2. When it ends, the rate steps up by design, and that is a contract term rather than a loyalty tax. The remedy is the same, but knowing which one you are dealing with changes how you open the conversation.
What to do once you have the number
A gap is a reason to have a conversation. It is not automatically a reason to move.
If the gap is nil or negative, you are done. Put a reminder in your calendar and check again in a year. Most people who do this exercise properly will land here, and that is a successful outcome rather than a wasted afternoon.
If the gap is small, the question is whether it survives the costs. Discharge and registration fees, a new lender’s establishment charges, and the time involved all have to be recovered before you are ahead. A modest gap on a small remaining balance frequently does not recover, and our guide to what refinancing actually saves works that arithmetic through.
If the gap is large, ask your own lender first, then compare properly. Two cautions before anyone lodges anything. You have to qualify: lenders assess at the actual rate plus a serviceability buffer, which APRA has maintained at 3 percentage points, so a borrower who has serviced an existing loan without difficulty for years can still fail an assessment for a smaller loan at a lower rate. And unless you specifically ask otherwise, a new loan is commonly written over a fresh full term, which can quietly cost more than the rate cut saves. Ask for your remaining term, and ask before documents are issued.
If you want a schedule rather than a one-off, how often to review or refinance sets out the cadence and the events that should trigger a look.
What the switching data does and does not show
A fair question at this point is whether the gap closed because borrowers forced it closed. The available data is suggestive and cannot settle it, and it is worth being clear about why.
The ABS publishes refinancing volumes in its Lending Indicators release. In the June quarter 2026, in seasonally adjusted terms, 66,449 owner-occupier loans and 36,597 investor loans were refinanced with a different lender. External refinancing on this measure peaked at 81,401 owner-occupier loans in the June quarter 2023, up from 37,240 in the June quarter 2019. A great many people did move.
But here is the limitation that most commentary misses. The ABS defines internal refinancing as a new loan replacing an existing one with the same lender where the credit limit has increased. A borrower who rings their bank, asks for a better rate on the same balance and gets one does not appear in these figures at all, because nothing about the facility changed except its price. That is the single most common way a loyalty tax gets fixed, and it is invisible in the national statistics.
So the honest position is this. Switching between lenders is measurable and has been running well above its pre-2020 levels. Repricing within a lender is not measurable at all. The Reserve Bank has said that renegotiation without refinancing was contributing to falling rates on outstanding loans as far back as 2020, which is a strong hint about where a lot of the compression came from, but a hint is not a measurement and we are not going to present it as one.
One thing not to assume
Best Interests Duty applies to mortgage brokers in relation to the credit assistance provided, at the time it is provided. It is not an ongoing obligation to monitor your loan and flag a widening gap for the rest of its life. Some brokers run periodic reviews as a matter of practice and some do not. Ask whoever arranged your current loan directly rather than assuming, because the assumption is what produces loans nobody has looked at in 6 years.
Read Intellect Finance’s Google reviews
Rather than telling you how we handle reviews, here are the reviews, live and unedited from our Google Business Profile.
These reviews reflect other clients’ experiences. They are not a promise of any particular outcome for your loan, which will always depend on your circumstances and the lender’s assessment.
Frequently Asked
Loyalty Tax Questions
What the gap is, whether it still exists, and how to measure your own.
What is the loyalty tax on a home loan?
It is the gap between the interest rate you pay on an established loan and the rate your lender would write for an equivalent new borrower today. No lender charges a fee by that name. The gap arises because the discount off a lender’s published rate is usually set once, when the loan is written, and stays fixed unless it is renegotiated, while the discounts offered to new borrowers keep moving with competition.
Does the loyalty tax still exist in Australia in 2026?
Not as a market-wide average. On Reserve Bank Statistical Table F6, published 7 September 2026, the average variable rate on outstanding owner-occupier housing loans and on loans newly funded in July 2026 were both 6.2 per cent, a gap of nil to 1 decimal place. On the Reserve Bank’s 2 decimal place summary for the same month, including fixed and variable loans, new owner-occupier borrowers averaged 6.24 per cent against 6.21 per cent for existing ones, so new borrowers paid slightly more. That is an average across the whole market and says nothing about any individual loan, which can still sit well above what its own lender writes today.
How big was the loyalty tax at its worst?
The ACCC’s home loan price inquiry final report, published 5 December 2020, found that as at September 2020, variable rate owner-occupier borrowers with principal and interest loans between 3 and 5 years old paid an average of 3.20 per cent, against 2.62 per cent for new loans. That is around 58 basis points. Loans between 5 and 10 years old averaged 3.33 per cent, around 71 basis points above new, and loans more than 10 years old averaged 3.66 per cent, around 104 basis points above new. Those are historical figures describing conditions at that time.
How do I find out if I am paying a loyalty tax on my loan?
Take your current rate to 2 decimal places from your statement or app. Then find what your own lender advertises today for the same product type, same repayment type and same loan-to-value band. Subtract one from the other. Multiply the difference by your loan balance to convert it into annual dollars. Compare against your own lender rather than the cheapest rate in the market, because that is the question a retention conversation can actually answer.
Can I just ask my bank for a lower rate instead of refinancing?
Yes, and it is the first thing to try. There is no application, no valuation and no credit enquiry, so the cost of asking is a phone call. The Reserve Bank noted in February 2020 that rates on outstanding variable loans had fallen by more than published rates in part because well-informed borrowers negotiated larger discounts with their existing lender, without refinancing. Whether any particular lender will adjust anything is entirely at their discretion and depends on their policy, your loan and your circumstances.
Why did the gap between new and existing borrowers close?
Partly the rate cycle and partly borrower behaviour, and the two cannot be separated cleanly with public data. A new loan is priced the day it is written while an existing loan reprices on a lag, so a rising cycle pushes the average existing rate below the average new one. On the Reserve Bank’s series covering all owner-occupier loans, fixed and variable together, that gap was negative through 2022 and 2023, helped by the large stock of loans fixed at very low rates in 2020 and 2021 still sitting in the outstanding average. Separately, external refinancing ran at record levels through the same period. Repricing within the same lender, which is the most common remedy, is not captured in national statistics at all, so its contribution cannot be measured.
Is a 0.20 point gap worth refinancing for?
Often not, and the answer turns on your balance and remaining term rather than on the gap alone. Discharge and registration fees, a new lender’s establishment charges and the time involved all have to be recovered first. A small gap on a small remaining balance frequently never recovers. A small gap is usually a reason to ask your existing lender to match their own new customer pricing, which costs nothing, rather than a reason to move.
Does the loyalty tax apply to investment loans as well?
The same mechanism applies, since investment loans are priced with discounts off a published rate in the same way. On the Reserve Bank’s July 2026 figures the market-wide picture is similar: outstanding investment housing loans averaged 6.44 per cent against 6.41 per cent for new ones. Investment lending carries its own pricing tiers by repayment type and loan-to-value ratio, so the comparison has to be made against a like product to mean anything.
Will my lender tell me if I am paying more than their new customers?
Nothing obliges them to. The ACCC recommended in its final report to the Treasurer in November 2020 that lenders be required to prompt borrowers with variable rate loans originated 3 or more years ago on an annual basis. That was a recommendation to government rather than a rule, and we have not been able to confirm that it was implemented. Set your own reminder rather than waiting to be prompted.
Does a broker have to keep checking my rate after settlement?
No. Best Interests Duty applies to the credit assistance a broker provides at the time it is provided. It is not an ongoing obligation to monitor your loan afterwards. Some brokers run periodic reviews as a matter of practice and some do not, so ask whoever arranged your loan directly rather than assuming.
The honest bottom line
The loyalty tax was real and it was large. A competition regulator measured it, and on loans more than 10 years old it ran to more than a full percentage point. Anyone who told you in 2020 that staying put was costing you money was right.
On the Reserve Bank’s latest figures it has closed. Across the market as a whole, existing owner-occupier borrowers and new ones are now paying the same average rate, and on some measures new borrowers are paying slightly more. We would rather publish that than keep running a headline that stopped being true.
None of which settles your loan. An average that nets to zero is made of loans above it and loans below it, and the ones above it belong to people who have not looked. The test takes 10 minutes: your rate, your lender’s current rate for the same product, subtract, multiply by your balance. If the answer is nil, you are done for another year. If it is not, the cheapest remedy is a phone call to the lender you already have.
Joseph Sukkar
Joseph has worked in Australian finance for more than 25 years and has run Intellect Finance from central Penrith since 2005, with clients across Australia. A meaningful share of loan reviews conducted properly end with a recommendation to ring your own lender rather than to move, which is a slower business model and the reason the reviews are worth having. Intellect Finance charges clients no fee on any loan type. More about the team.
Sources
Reserve Bank of Australia, Statistical Table F6 Housing Lending Rates, publication date 7 September 2026, series FLRHOOVA and FLRHOFVA, for the average rates on outstanding and newly funded variable rate owner-occupier housing loans across all institutions used in the gap table; and series FLRHOOTA and FLRHOFTA, covering all owner-occupier housing loans including fixed rate loans, for the negative gap through 2022 and 2023 showing 5.1 per cent outstanding against 5.7 per cent new in May 2023; and series FLRHOOFA, outstanding owner-occupier fixed rate loans with a residual fixed term of 3 years or less, at 2.7 per cent in the same month. Figures are published to 1 decimal place. rba.gov.au
Reserve Bank of Australia, Lenders’ Interest Rates, July 2026, for the 2 decimal place averages on outstanding and new owner-occupier housing loans (6.21 and 6.24 per cent), principal and interest (6.19 and 6.16 per cent), interest only (6.85 and 6.98 per cent) and investment housing (6.44 and 6.41 per cent). These figures include loans at both variable and fixed interest rates. rba.gov.au
Australian Competition and Consumer Commission, Home loan price inquiry final report, provided to the Treasurer on 25 November 2020 and published 5 December 2020, for the average rates paid by loan age as at September 2020 drawn from the Reserve Bank’s Securitisation Dataset, the observation that as at December 2019 almost half of all variable rate loans had been originated at least 4 years earlier, the $250,000 savings illustration, and the recommendation for an annual prompt to borrowers with variable rate loans originated 3 or more years ago. The ACCC records the inquiry as finalised. We have not been able to confirm whether that recommendation was implemented and make no claim either way. accc.gov.au
Reserve Bank of Australia, Statement on Monetary Policy, February 2020, Box C, Do Borrowers with Older Mortgages Pay Higher Interest Rates?, for the mechanism: that discounts borrowers receive are usually fixed over the life of the loan although they can be renegotiated, that average discounts to standard variable rates on new major bank variable rate mortgages widened from around 100 basis points in 2015 to more than 150 basis points in 2019, that increasing discounts for new and refinancing borrowers rather than lowering published rates lets banks compete without lowering rates for existing borrowers, and that rates on outstanding variable loans had fallen by more than published rates in part because well-informed borrowers negotiated larger discounts with their existing lender without refinancing. rba.gov.au
Reserve Bank of Australia, Statement on Monetary Policy, February 2020, Box D, Enhancing the Transparency of Interest Rates, for the coverage of the Economic and Financial Statistics collection at around 95 per cent of credit outstanding, and for the finding at that time that new borrowers on average paid lower interest rates than existing customers. rba.gov.au
Australian Bureau of Statistics, Lending indicators, June quarter 2026, released 14 August 2026, for the seasonally adjusted counts of externally refinanced owner-occupier (66,449) and investor (36,597) loan commitments in the June quarter 2026, the June quarter 2023 owner-occupier external refinancing figure of 81,401 and the June quarter 2019 figure of 37,240, and for the methodology definition that internal refinancing requires an increase in the credit limit. abs.gov.au
Australian Prudential Regulation Authority, media release confirming macroprudential policy settings, 28 May 2026, for the confirmation that the mortgage serviceability buffer remains at 3 percentage points. apra.gov.au
Important disclosures, general advice warning and licensing
General information only. This article is general information only and does not constitute financial, credit, legal, investment or tax advice. It does not take your objectives, financial situation or needs into account, and it is not a recommendation to refinance, to renegotiate, to stay with your current lender, or to enter into any credit contract. Before acting on any information here you should obtain advice from appropriately qualified professionals.
About the interest rate figures on this page. Every rate figure published here is a market-wide average compiled and published by the Reserve Bank of Australia or quoted from the ACCC’s 2020 inquiry report. They are not offers, not quotes, not comparison rates, not the pricing of any particular lender, and not a comparison between lenders. Intellect Finance publishes no lender pricing on this page. Averages describe a whole market and will not match any individual loan. Any rate relevant to you should be confirmed in writing against an actual offer, and nothing here predicts the direction of interest rates.
About the Reserve Bank data. Statistical Table F6 figures are published to 1 decimal place at source, which is why the gap column resolves to values such as nil rather than to a precise basis point figure. The Lenders’ Interest Rates summary is published to 2 decimal places and includes loans at both variable and fixed rates, so the 2 sets of figures are not directly interchangeable. The underlying collection covers lenders accounting for around 95 per cent of credit outstanding rather than the entire market. Figures are current as at the July 2026 reference month, published 7 September 2026, and will move.
About the ACCC material. The rates by loan age, the savings illustration and the observation about loan ages are drawn from the ACCC’s home loan price inquiry final report, provided to the Treasurer on 25 November 2020 and published on 5 December 2020. They describe market conditions as at September and December 2019 and 2020, which differ materially from current conditions and should not be read as current. The savings illustration relies on assumptions set out in that report, including a specific balance, rate and remaining term, and does not describe any actual borrower. A recommendation in an inquiry report is advice to government and imposes no obligation on lenders. We have not been able to confirm whether the annual prompt recommendation was implemented and we make no claim either way.
About the ABS refinancing figures. The refinancing counts cited are seasonally adjusted estimates of new borrower-accepted commitments for the quarter stated and are subject to revision. The ABS defines internal refinancing as requiring an increase in the credit limit, so a repricing with an existing lender that leaves the limit unchanged is not captured in any of these series. We draw no conclusion about the volume of such repricing because none is available.
About the comparison exercise. The steps described are a general method for comparing your own rate to your own lender’s current pricing. They are not a substitute for advice, they do not account for fees, features, loan structure or your circumstances, and a gap identified this way is not by itself a reason to refinance. Advertised rates are subject to eligibility criteria and change without notice.
Approval and pricing are never guaranteed. All lending is subject to lender assessment, credit criteria, valuation and lender policy, which vary between lenders and change without notice. Whether an existing lender will adjust pricing on request is entirely at that lender’s discretion. No broker can guarantee approval, a rate, a repricing outcome, an exception to policy, a valuation outcome or a timeframe.
Credit reporting. Credit applications are recorded on your credit report. This page does not state how long that information is retained or how any particular lender or credit reporting body treats it, because those are matters for the credit reporting body and the lender concerned. You can obtain your own credit report from the credit reporting bodies directly.
Best Interests Duty. Best Interests Duty applies to mortgage brokers in relation to the credit assistance they provide, at the time it is provided. Nothing on this page should be read as a representation that any broker, including us, has an ongoing legal obligation to monitor a loan or its pricing after settlement.
Other professionals. Tax treatment to your accountant or registered tax agent. Contracts, duty and title to your solicitor or conveyancer. Investment questions to a licensed financial adviser. Intellect Finance holds a credit licence and does not provide financial product advice. If you are experiencing financial difficulty, free and independent financial counselling is available through the National Debt Helpline on 1800 007 007.
About the reviews shown. The reviews displayed on this page are genuine reviews published by clients on Intellect Finance’s Google Business Profile, shown live via a third-party reviews widget. They reflect those individuals’ own experiences and are not a promise of any particular outcome.
What we charge you. Nothing, on any loan type. No arrangement fee for residential, commercial, corporate, asset, SMSF or personal lending, no fee for complex or specialist lending, and no clawback recovery fee if a loan is discharged early. Lenders pay us a commission on settlement, disclosed to you in writing in our Credit Guide before we provide credit assistance.
Intellect Finance Pty Ltd holds Australian Credit Licence 390611 and is a member of the MFAA and AFCA. Lending criteria, fees and terms apply. Article checked 11 September 2026.
Next Reads
Where to go from here
Free Loan Review
Find out what your gap actually is.
Bring your rate, your balance, your remaining term, your loan-to-value ratio and any fixed or interest only expiry date. We will work out the difference between what you pay and what your own lender writes today, and tell you plainly when it is not worth acting on. No credit enquiry unless you decide to proceed. Penrith based since 2005, clients Australia-wide. No fee on any loan type. ACL 390611.
General information only, and not a recommendation to refinance, to renegotiate or to stay. No broker can guarantee approval, a rate or a repricing outcome.
Intellect Finance Pty Ltd | Australian Credit Licence 390611 | MFAA Member | AFCA Member