Can I Refinance While I’m on Maternity Leave or Between Jobs?
Lenders typically assess serviceability based on current income, although some may consider confirmed return-to-work arrangements depending on their policy. That doesn’t make refinancing impossible during parental leave or a career transition — it means the lender options narrow and the documentation requirements increase.
Yes — but not with every lender, and not always straightforwardly. The hurdle isn’t your credit history or your equity. It’s income verification.
Maternity and Parental Leave
If you’re receiving paid parental leave — from your employer or the government — some lenders may include that income in their assessment depending on policy. The key requirement is documentation: a letter from your employer confirming your return-to-work date and that your role is guaranteed on return.
Between Jobs
Refinancing between roles is more challenging. Many lenders require a minimum period of employment in the new role — typically 3 months for PAYG, longer for probationary periods.
If the Timing Is Urgent
If your fixed rate is expiring or your current rate is causing genuine cash flow pressure during a period of income change, the options aren’t zero — but they are limited. Lenders with more flexible policies may be accessible depending on your equity position and overall credit profile.
You may wish to speak with a licensed mortgage broker to assess your personal circumstances.
This is general information only. Lender policies for income verification during leave or employment transitions vary significantly. Speak with a licensed mortgage broker for advice specific to your circumstances. All loans are subject to lender approval.
Sources: ASIC MoneySmart, Refinancing Your Home Loan 2025; APRA Prudential Practice Guide APG 223; MFAA Industry Intelligence Service Report 2025.
