- 5.99%
New rate
- -$70/mth
Repayments
- ~$23k
Interest saved
The Borrowers
Amy is a senior information officer with a Queensland government department on $76.5k. Sean is a senior audit and investigation officer with another department on $128.3k. Both full time since 2022. Homeowners with a house in Collingwood Park, Ipswich.
The Goal
A better rate and lower repayments on their home loan.
The Problem
They were on 6.29% variable with ING, paying for loan features they didn't use, with 27 years left to run.
What We Did
Jayden, one of our Brisbane mortgage brokers, arranged a full discharge from ING and a refinance to People First Bank's basic variable. He kept the new loan on a 27-year term so the refinance didn't quietly add three years of interest.
The Result
$475k approved at 5.99%, down from 6.29%. Repayments are about $70 a month lower even with the refinance costs added to the loan. That's about $1.4k a year less interest at the start, and roughly $23k less over the remaining 27 years if rates stay where they are.
Approved 29 October 2026, with settlement booked for 12 November 2026. Run your own numbers through our mortgage calculator.
Loan Details
| Detail | Figures |
|---|---|
| Location | Collingwood Park QLD 4301 |
| Property | House |
| Valuation | $960k |
| Loan | $472.2k with ING refinanced into $475k, 49% LVR |
| New loan | People First Bank basic variable, 5.99% at approval (October 2026), P&I, 27 years, $2,961 a month |
| Previous rate | ING 6.29% variable |
| Timing | Approved 29 Oct 2026; settlement booked 12 Nov 2026 (not yet settled) |
Loan details
Location
- Figures
- Collingwood Park QLD 4301
Property
- Figures
- House
Valuation
- Figures
- $960k
Loan
- Figures
- $472.2k with ING refinanced into $475k, 49% LVR
New loan
- Figures
- People First Bank basic variable, 5.99% at approval (October 2026), P&I, 27 years, $2,961 a month
Previous rate
- Figures
- ING 6.29% variable
Timing
- Figures
- Approved 29 Oct 2026; settlement booked 12 Nov 2026 (not yet settled)
Rates are the rate at approval on the date shown. They are not current offers.
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Hunter Galloway Finance Pty Ltd T/A Mortgage Broker Brisbane - Hunter Galloway ABN 20 605 252 926. Credit Representative 476903 is authorised under Australian Credit Licence 389328. Your full financial situation would need to be reviewed before any offer or product is accepted.
Client examples are based on real situations. Names and identifying details have been changed.