Refinancing isn’t the only way to cut your rate. Lenders quietly hand out discounts every day to customers who ask properly, a process called repricing. It takes a phone call, costs nothing, and routinely saves 0.2–0.5%.
Why banks discount on request
Losing a loan costs a lender far more than trimming its margin. Every bank runs a retention team with authority to discount, but discounts go to customers who show evidence they’re ready to leave, not to loyal silence. That’s the “loyalty tax” in action: the quiet pay more.
The repricing playbook
- Find your exact current rate (it’s on your statement or app, many borrowers genuinely don’t know it).
- Collect two or three comparable offers, same LVR, same loan type, that beat it.
- Call and ask for the retention or repricing team, not the general queue.
- Ask directly: “Match this or I’ll refinance.” Then be prepared to follow through.
What a broker adds
Brokers run repricing at scale, Nathan submits pricing requests through lender broker channels, where the discount decision is made on data, not on how the call goes. If the lender won’t move, the refinance is already teed up: that credibility is exactly why the discounts appear.
If repricing stalls, compare what a full refinance would save after costs.
Open the mortgage switching calculator →Make it recurring, not once-off
Rates drift; a discount won in 2026 erodes by 2028. Nathan’s Rate Watch™ re-checks client rates every year and repeats the exercise automatically. Get your loan reviewed free, the first conversation usually pays for itself many times over.