When Refinancing Multiple Properties Makes Sense
Refinancing more than one property at the same time becomes worthwhile when you can reduce what you're paying across the portfolio, improve loan features, or release equity to fund your next move. If you hold two or more properties and haven't reviewed your loans in the past two years, chances are you're paying more than you need to or missing features that would improve your cashflow.
Consider an investor in Jindalee who owns a property near Eucalyptus Park and another in nearby suburbs. Both loans are sitting on rates that were fine three years ago but no longer reflect what's available now. One property has an offset account that isn't being used properly, and the other has a redraw facility with restrictions that make accessing funds cumbersome. A home loan health check shows that refinancing both loans could reduce repayments and consolidate the structure into something more flexible.
The decision to refinance isn't just about chasing a lower interest rate. It's about whether the current setup still serves what you're trying to achieve. If you've been thinking about accessing equity to buy another property, or if your fixed rate period is ending on one or more loans, that's the moment to look at the whole portfolio rather than dealing with each loan separately.
Should You Refinance All Properties or Just One?
You should refinance all properties together if the goal is to improve the overall structure, but refinancing just one property makes sense when that loan has a specific problem the others don't share. The answer depends on what you're trying to fix and whether the same issue applies across multiple loans.
In a scenario where one property is coming off a fixed rate and reverting to a high variable rate, but the other properties are already on competitive variable rates with useful features, it makes sense to refinance just the one. But if all your loans are sitting with the same lender on similar rates and you want to access equity or consolidate into a single structure with offset accounts linked across properties, refinancing the portfolio together will save time and give you more negotiating power.
When you refinance multiple properties at once, the lender assesses your borrowing capacity and the combined loan amount as a package. That often means you can secure terms that wouldn't be available if you approached each loan individually. If you're releasing equity from one property to fund a deposit on the next, structuring the refinance as a single application ensures the equity release and new loan are aligned, rather than trying to coordinate separate timelines.
Fixed Rate Expiry Across Multiple Loans
If your fixed rate period is ending on more than one loan within a few months of each other, handle them together rather than waiting for each expiry date to arrive. Lenders typically allow you to refinance a fixed loan up to six months before expiry without significant break costs, and dealing with all of them in one refinance application reduces paperwork and gives you a clearer picture of what your portfolio will cost once everything moves to variable or refixes.
Jindalee has seen steady interest from investors over the past few years, particularly around the river precinct and areas close to the Centenary Highway. If you bought or refinanced during the low-rate period and locked in fixed rates that are now ending, you'll likely revert to a much higher variable rate unless you act before expiry. When multiple properties are in this situation, a loan review that covers the entire portfolio lets you compare options across lenders and decide whether to switch to variable, lock in another fixed term, or split the loan structure to manage rate risk.
The refinance process for multiple properties doesn't take twice as long as a single property refinance, but it does require careful sequencing. If you're releasing equity from one property to pay down debt on another or fund a new purchase, the valuations need to happen at the right time, and the settlement needs to be coordinated so funds are available when required.
Access Equity Without Selling
Refinancing lets you unlock equity held in one or more properties without selling, which is particularly useful if you want to buy another investment property or fund a renovation. The amount you can access depends on the current property valuation and how much you still owe, with most lenders allowing you to borrow up to 80% of the property's value without paying lender's mortgage insurance.
In our experience, investors who own properties in suburbs like Jindalee often hold significant equity due to value growth over time, but they haven't structured their loans to access it efficiently. If you refinance the portfolio and consolidate loans with cross-collateralised security, you can release equity from multiple properties in a single application. Alternatively, if you prefer to keep each property as a standalone security, you can refinance just the property with the most available equity and use that to fund your next step.
Accessing equity through refinancing is sometimes called a cash out refinance. The funds can be used for any purpose, but if you're using them to buy another investment property, the interest on the additional borrowing is typically tax-deductible. Structuring this correctly matters, which is why the refinance application should clearly identify how much equity you're releasing and what it's being used for.
Structuring Offset Accounts Across Multiple Properties
When you refinance multiple investment loans, you can set up offset accounts that link to each loan and use your everyday cash balance to reduce the interest charged across the portfolio. Not all lenders offer multiple offset accounts on investment loans, but those that do make it possible to manage several properties with one transactional account reducing interest on multiple loans simultaneously.
For someone holding properties in and around Jindalee, this structure improves cashflow without requiring you to lock funds into the loan via redraw. If rental income from one property is sitting in your offset account, it reduces the interest charged on all linked loans until you need to access the funds. The refinance process is the right time to compare which lenders offer this feature and how many offset accounts they allow per borrower.
The alternative is a redraw facility, which lets you access extra repayments you've made on the loan. Redraw works if you're disciplined about making additional repayments, but it doesn't provide the same day-to-day flexibility as an offset account, and some lenders place conditions on how often you can withdraw or how much notice they require.
How the Refinance Application Works for a Portfolio
The refinance application for multiple properties requires updated valuations, proof of rental income for each investment property, and a clear breakdown of your current loan balances and repayment history. The lender will assess your borrowing capacity based on the combined loan amount and your ability to service all debts, including the refinanced loans and any other commitments.
If you're refinancing with a new lender, they'll want to see that you've been meeting repayments on all existing loans without hardship. If you're refinancing with your current lender to access equity or switch loan features, the process is often quicker because they already hold your information and don't need to conduct a full credit assessment from scratch.
One practical detail: if you're refinancing multiple properties and one of them has a fixed rate that hasn't yet expired, calculate the break costs before proceeding. Some lenders will waive or reduce break costs if you're refinancing the entire portfolio with them, but that's not guaranteed. If the break costs are significant, it may make sense to refinance the other properties now and deal with the fixed loan separately when it expires. Working with a broker lets you model these scenarios and see which option saves the most over the next few years.
Why Refinance Multiple Properties With the Same Lender or Split Them
Refinancing all properties with the same lender simplifies administration and may give you access to portfolio discounts or relationship pricing, but splitting properties across multiple lenders can sometimes secure lower rates or features that aren't available from a single lender. The right choice depends on what each lender is prepared to offer and how much flexibility you need.
If you're managing a portfolio and want to minimise the time spent dealing with banks, consolidating everything with one lender reduces the number of accounts, statements, and points of contact. Some lenders offer rate discounts once your total borrowing exceeds a certain threshold, which makes keeping everything together financially worthwhile.
On the other hand, if one lender offers a particularly competitive rate for owner-occupied loans but their investment loan rates aren't as sharp, and another lender has strong investment loan products but higher owner-occupied rates, splitting the portfolio across two lenders might save you more than consolidating. The refinance process doesn't force you to choose one approach, but it does require clear planning upfront so you don't end up with a structure that's harder to manage than what you started with.
Call one of our team or book an appointment at a time that works for you. We'll review your current loans, show you what's available across the market, and put together a refinance structure that makes sense for your portfolio and what you're planning next.
Frequently Asked Questions
Should I refinance all my properties at the same time or one at a time?
Refinance all properties together if you want to improve the overall structure, reduce costs across the portfolio, or access equity for a new purchase. Refinance just one property if only that loan has a specific issue the others don't share, such as a fixed rate expiring or a lack of offset access.
Can I release equity from multiple properties in one refinance application?
Yes, refinancing multiple properties in a single application lets you release equity from one or more properties up to 80% of their current value without paying lender's mortgage insurance. The lender assesses your borrowing capacity based on the combined loan amount and rental income across the portfolio.
Do I need to use the same lender for all my investment properties?
No, you can split properties across different lenders if that gives you lower rates or features that one lender alone can't provide. Consolidating with one lender simplifies administration and may offer portfolio discounts, but splitting can sometimes save more depending on what each lender offers.
What happens if one property has a fixed rate that hasn't expired yet?
You can still refinance the property, but you'll need to calculate break costs before proceeding. Some lenders waive or reduce break costs if you're refinancing your entire portfolio with them, but if costs are high, it may make sense to refinance the other properties now and deal with the fixed loan when it expires.
How long does it take to refinance multiple properties?
The refinance process for multiple properties usually takes four to six weeks from application to settlement, depending on how quickly valuations are completed and how complex the loan structure is. Refinancing multiple properties doesn't take twice as long as a single property, but it does require coordinated timing if you're releasing equity or consolidating loans.
