Top Strategies to Refinance Multiple Properties

Why Refinance Multiple Properties at Once

Refinancing multiple properties at the same time lets you consolidate your loans under one lender, often at a lower rate, and simplifies your repayments into a single structure. When you hold more than one property, keeping loans with different lenders might mean paying higher rates on some loans, dealing with multiple offset accounts that don't work together, and missing out on portfolio discounts that some lenders offer when you bring all your debt to them.

Consider a fixed plant operator who owns a home in Kalgoorlie and an investment property in Perth. The investment loan sits at a higher rate because it was taken out two years ago when rates were climbing. The home loan is on a fixed rate that expired six months ago and rolled to a standard variable rate that's now costing an extra 0.8% per year. Refinancing both loans to a single lender brought the rate down on both, consolidated the offset accounts so all spare cash worked against both loans, and saved around $400 a month in repayments. The process took six weeks and required one valuation for each property.

When Multiple Refinances Make Sense

Refinancing more than one property works when your circumstances or the lending environment has shifted enough to justify the effort. If one or more of your fixed rates have expired and rolled to a higher variable rate, if you're carrying loans with rates above what's currently available, or if you want to access equity in one property to fund another purchase, a portfolio refinance can address all three at once.

In our experience, FIFO workers with multiple properties often find that one loan is performing well while another is stuck on an uncompetitive rate or has features that no longer suit. Refinancing the entire portfolio lets you renegotiate terms across the board rather than fixing problems one at a time. Some lenders will also waive application fees or offer rate discounts when you bring multiple loans to them, which offsets some of the upfront costs.

How to Structure Loans Across Multiple Properties

You can refinance multiple properties under separate loan accounts with the same lender, or in some cases, cross-collateralise them so that the equity in one property secures another. Cross-collateralisation can make it simpler to access equity and may improve your borrowing capacity, but it also means you can't sell or refinance one property without the lender's approval on the others. For FIFO workers building a portfolio, keeping loans separate but under the same lender often provides the right balance of convenience and flexibility.

A fixed plant operator with three properties might refinance all three to the same lender but keep each loan in its own account. This structure lets you access portfolio pricing and a single offset account that links to all loans, while still giving you the option to sell one property or switch one loan to another lender down the track without disrupting the others. If you're planning to expand your property portfolio further, this setup makes it simpler to add new loans without renegotiating security arrangements each time.

Releasing Equity to Fund the Next Property

If you're refinancing to access equity for another purchase, the lender will value each property and calculate how much equity you can draw. Most lenders let you borrow up to 80% of the property's value without paying lenders mortgage insurance, which means if your property is worth $500,000 and you owe $300,000, you can access up to $100,000 in equity without additional insurance costs.

This approach works well when you're expanding into another investment property or upgrading your primary residence. Refinancing multiple properties at once can consolidate the equity release into the same application, which speeds up the process and avoids the need to apply for separate loans weeks apart. The released equity can be used as a deposit, which means you avoid dipping into savings and keep your cash flow intact during the purchase. For more on this, see our page on equity release loans for FIFO workers.

Fixed Rate Periods Ending Across Multiple Loans

When fixed rate periods end on more than one loan at different times, refinancing the portfolio lets you align the rate structures and avoid rolling onto a standard variable rate that's higher than what's available elsewhere. If one loan comes off a fixed rate in three months and another in six months, you can refinance both at the same time and lock in a new rate structure that suits your current circumstances.

Some FIFO workers prefer to split their loans so part is fixed and part is variable, which gives access to offset and redraw on the variable portion while locking in certainty on the fixed portion. Refinancing multiple properties gives you the chance to apply this structure consistently across your portfolio rather than managing different setups on each loan. For workers on long rosters with variable income timing, having offset accounts linked across all loans means your pay can sit in one account and reduce interest on every loan at once. If your fixed rate is ending soon, our fixed rate expiry page covers what to consider.

The Refinance Application Process for Multiple Properties

Applying to refinance multiple properties involves the same steps as a single refinance, but the lender will assess each property separately and calculate your borrowing capacity based on the combined loan amounts. You'll need to provide income documentation, property valuations, and details of your existing loans. The lender will also assess rental income if any of the properties are tenanted, which can improve your borrowing capacity and help you qualify for the full refinance amount.

For FIFO fixed plant operators, lenders familiar with FIFO income structures will assess your pay based on your roster and average earnings over the past 12 months. If you've recently moved to a higher-paid role or extended your roster, this can work in your favour and increase the amount you can borrow. The application typically takes four to six weeks, depending on how quickly valuations and discharge paperwork are completed. Refinancing through a broker who understands FIFO income lets you access lenders who won't discount your earnings or apply excessive buffers that reduce your borrowing capacity. Our home loan refinancing for FIFO workers page explains how the process works in more detail.

Consolidating Debt Into Your Mortgage Refinance

If you're carrying personal debt such as car loans, credit cards, or ute finance, refinancing multiple properties can let you consolidate that debt into your mortgage. This reduces your overall interest rate because mortgage rates are lower than personal loan rates, and it simplifies your repayments into a single monthly amount. For FIFO workers managing debt across multiple accounts, this can free up cash flow and reduce the risk of missing payments while you're on site.

Consolidating debt into your mortgage does increase the loan term on that debt, which means you'll pay more interest over time if you don't make extra repayments. However, it can also improve your borrowing capacity by reducing your monthly commitments, which helps if you're refinancing to access equity for another property. If you're considering this option, see our page on debt consolidation loans for FIFO workers for a full breakdown of how it works.

Call one of our team or book an appointment at a time that works for you. We'll assess your current loans, calculate how much you could save by refinancing your portfolio, and structure the application so it fits your roster and timing.

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