In this episode of Here Comes the Money, Peter and Hovig answer one of the most common (and misunderstood) mortgage questions in Australia:

If you refinance your home loan, do you really go backwards and reset your mortgage to 30 years?

Many homeowners avoid refinancing because they’re worried it will undo years of progress — but the reality is far more nuanced.

Using real client examples, this episode breaks down:

• What actually happens when you refinance a mortgage
• Why a 30-year loan term is often just an administrative label
• How maintaining your existing repayment can shorten your remaining loan term
• Monthly vs fortnightly repayments and how frequency impacts interest
• Why chasing the lowest interest rate alone is a mistake
• How banks think about serviceability and equity
• When refinancing improves your position — and when it doesn’t
• How parallel investing can accelerate mortgage reduction

This episode is essential listening for anyone with a home loan, thinking about refinancing, or wanting to pay off their mortgage faster without relying on guesswork or bank-driven advice.

Topics covered:
Mortgage refinancing Australia, home loan terms, interest rates, mortgage strategy, equity, serviceability, offset accounts, fortnightly repayments, financial strategy, wealth building, smart money decisions.

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