Should you refinance? One question, one calculator.
Refinance check
Not which lender has the lowest rate — just whether switching your Australian home loan is worth the cost of doing it. Put your own numbers in, and see how much each payment changes, how long the switch costs take to pay back, and what is left at the end of the term.
The honest answer is sometimes "stay put". A lower rate does not help if you do not have enough term left to pay back the switching costs, or if you give up an offset you rely on.
Lenders price off the cash rate target, but your rate depends on your loan, your LVR and the market on the day. This is not a quote. This site does not list lender rate tables or rankings. Rates move and they differ between borrowers. In the chat, a broker-side assistant can share current reference rates, which are indicative only and subject to assessment of your own application. The Reserve Bank publishes the cash rate target that lenders price off — see the reference below.
Verdict
A free review by a licensed mortgage broker. Your calculator numbers go with the message so you do not have to type them again. A review is not a credit approval or a rate offer — the lender decides whether to approve your application and on what terms.
remortgage.help provides general information about refinancing an Australian home loan. We are not a lender, credit provider or credit broker, and we do not hold an Australian Credit Licence or an Australian Financial Services Licence. Nothing here is personal financial advice, a credit approval, a rate offer or a recommendation to refinance with any lender. Check your own contract and any written quote before deciding, and talk to a licensed mortgage broker.
This site does not list lender rate tables or rankings. Rates move and they differ between borrowers. In the chat, a broker-side assistant can share current reference rates, which are indicative only and subject to assessment of your own application. The Reserve Bank publishes the cash rate target that lenders price off — see the reference below.
The switching decision is mostly about costs and features, not about the headline rate.
My renewal is coming up and my rate is going up. Is switching lenders worth the fees, or should I just stay?
Most people decide on the headline rate alone. The answer actually turns on whether the per-period saving repays the switch costs before you would otherwise have finished the loan, and whether the new loan keeps the features you rely on.
Read the guideThe new rate looks better, but what are the actual costs of switching, and how do I add them up before deciding?
Costs differ between lenders and between loans. Adding the known categories into one number is what turns a rate comparison into a real answer.
Read the guideI have nine years left. Is there even enough time for a refinance to pay back its own costs?
The shorter the remaining term, the fewer payments the saving has to pay back the switch costs. Near the end of a loan, a lower rate can still be a bad deal.
Read the guide