Interest rate rises and changing caps mean the refinance question looks different for NFP employees who package their living expenses.
When an NFP refinance may be worth exploring
You might consider a refinance if:
- Your interest rate is no longer competitive.
- Your mortgage or rent packaging hasn’t been reviewed for a few years.
- Caps have changed or your income mix has shifted, but your loan hasn’t been adjusted.
A refinance is not just about rate; it is a chance to align loan structure with your current benefits.
Aligning your loan with packaging
Good questions to ask:
- Is the amount you package towards your mortgage appropriate for your cap?
- Is the loan account structure compatible with employer/packager payment methods?
- Are you using offsets, redraw and splits in a way that fits your NFP income?
Careful design can help ensure the tax benefits and the loan design support each other rather than create friction.
Key documents you will need
NFP refinances usually require:
- Recent payslips showing packaging.
- Salary packaging provider statements or annual summaries.
- HR letters confirming your remuneration structure.
Iconic helps you assemble these so lenders can clearly see the real story.
Iconic’s NFP refinance process
Iconic Mortgage Solutions takes NFP clients through a simple sequence:
- Current loan and packaging review.
- Lender comparison with NFP friendly criteria.
- Proposed structure that works with your packaging caps and goals.
“Ready to see whether your current loan and NFP benefits are working as hard as you are? Book an NFP Refinance & Packaging Review.”