Stamp duty and refinancing
Stamp duty and refinancing
Compare home loans the easy way
We partnered with Lendi to help you compare home loans from over 25 lenders and over 2,500 home loan products.
What is stamp duty?
Stamp duty — which also goes by ‘(land or property) transfer duty’ or ‘conveyance duty’ in some states and territories — is a state-specific tax that’s typically placed on high-value transactions. It applies when you’re buying (or transferring) an owner-occupied or investment property.
Do you have to pay stamp duty when refinancing?
In most cases, you won’t have to pay stamp duty when refinancing your property.
For instance, you don’t have to worry about stamp duty if you refinance with the same owner (under the same name), with the same loan amount and lender.
But some exceptions apply. You might have to pay stamp duty when:
- Increasing loan amount, like switching to one with a larger balance than the principal of your previous loan
- Changing the ownership structure of your property, or adding someone into the title besides your partner
- Switching between property types, like going from owner-occupied to investment.
Helpful tip:
When refinancing, don’t wait until the last minute to check whether stamp duty applies to you, as late payment might entail additional costs. Different states and territories have varying deadlines, so make sure to check the timelines to avoid paying unnecessary fees.
How much will stamp duty cost?
If you’re thinking of refinancing your Home Loan and you’re not exempt from stamp duty, then the cost of it will usually come down to these things:
- How much the property costs: The costlier the house, the higher the stamp duty.
- If you’re eligible for a concession or exemption: Are you a pensioner? Then you could get lucky.
- Whether the property is an owner-occupied or investment one: Home Loans for investment properties are typically more expensive than for owner-occupied ones, and the stamp duty for investment properties can be higher in some states.
- Structure of the loan: Refinancing for a lower interest rate or extending the loan term might result in additional stamp duty fees.
- The state or territory where you buy it: Each state and territory have their own rules around stamp duty. Here’s what each state and territory’s local State Revenue Office says about stamp duty and how to calculate it:
Alternatively, you can give our stamp duty calculator a quick whirl.
What other fees apply to refinancing?
Let’s dive into some key things to think about when deciding if refinancing is the right move for you:
- Fixed or variable: Is the new product more of a rock-steady fixed rate deal or a Variable Rate Home Loan? And can you split the new mortgage to get the best of both worlds, perhaps half-fixed and half-variable?
- Break fees: These are the fees you’ll have to cough up to your lender if you decide to part ways with your current mortgage early. They typically only apply when you shake things up with your Fixed Rate Home Loan (e.g. breaking the terms or refinancing before the end of the fixed period).
- Any new fees: Setup, administration, property valuation, or other ongoing services might not come for free — these fees from your new lender can set you back a few hundred dollars.
- Loan term: The longer the loan term, the more interest you could end up paying.
- Payment frequency: Does your repayment frequency jive well with your cash flow (when you receive your monthly pay, when you pay your other bills, etc)? It’s all about finding that sweet spot to ensure you’re not hard-pressed with managing your repayments.
- Additional features: Different loans come with different features — such as offset accounts and redraw facilities — which can add flexibility to your mortgage and help you minimise interest repayments. Before making a switch, check whether you’re giving up any of those Home Loan features you hold dear.
- Lenders mortgage insurance: If your Loan to Value Ratio creeps over 80%, you might find yourself shelling out for lenders mortgage insurance once more with your new lender. It isn’t typically transferrable and it’s every lender’s safety net against the worst-case scenario: borrowers defaulting on their loan.
Can I get an exemption on paying stamp duty when refinancing?
The simple answer is yes, you can sometimes get exempted from paying stamp duty when refinancing. Especially if the borrower’s name and loan amount stay the same and you’re refinancing with your existing lender.
Also, in some cases (like if it’s your lucky year), if you do pay stamp duty when you refinance, your lender might refund you. It’d be prudent to check this with your lender though as not everyone can be this lucky!
If you aren’t eligible for an exemption, you might want to look into stamp duty concessions. Like if you’re a pensioner or concession card holder.
Where can I find and compare Home Loans?
If you think refinancing is the way forward, iSelect and Lendi have teamed up to help you compare from a range of Home Loan products online. Compare over 25 products today.

Get started on comparing home loans today!
Find a home loan by comparing with iSelect’s trusted partner, Lendi.
iSelect is the trading name of iSelect Mortgages Pty Ltd (ABN 86 148 217 181). iSelect Mortgages Pty Ltd is a credit representative (Credit Representative 400540) of Lendi Group Distribution Pty Ltd (Australian Credit Licence 246786). iSelect provides a referral to Lendi Pty Ltd, a Credit Representative of Lendi Group Distribution Pty Ltd (Australian Credit License 246786). iSelect Mortgages Pty Ltd receives a commission from Lendi Group Distribution Pty Ltd, the licensee for each new customer account created and for each home loan submitted through this service.