Please call our mortgage brokers at 1300 889 743 or fill in our online enquiry form to see if you should refinance your home loan during the COVID-19 pandemic.

How does the refinance calculator work?

The home loan refinance calculator works out how much you’ll save by refinancing your mortgage with another lender.

To start, input:

  • Your current home loan balance.
  • Your current interest rate.
  • Your remaining loan term.
  • Your repayment frequency, whether you make monthly or fortnightly repayments.
  • Your monthly account keeping fee, if applicable.
  • Your discharge fee (and exit fee, if applicable).

For the new home loan, input:

To start, input:

  • Your introductory term.
  • Your introductory or honeymoon interest rate.
  • The revert rate.
  • Upfront switching fee, if applicable.
  • Ongoing fee, monthly or annual, if applicable.

Your results will give you three scenarios:

  • Scenario 1 – Your monthly repayments if you don’t switch.
  • Scenario 2 – How much you’ll save by switching and paying back the minimum mortgage repayments.
  • Scenario 3 – How much you’ll save by switching but continuing to make the same monthly repayments at the new, lower interest rate.

Please call us on 1300 889 743 or complete our free assessment form to discover if you’re eligible to refinance your home loan.

What are the costs of refinancing?

  • A home loan application or establishment fee anywhere between $500-$1,000 may apply.
  • Upfront switching fees can range from anywhere between $1,000 to $2,000.
  • Exit fees were banned by the government but can still be applied if your mortgage has been with the same lender since before 1 July 2011.
  • A final discharge fee, termination fee or settlement fee may be charged by the lender, ranging from $150 to $400.
  • The lender will charge you around $400 to $500 to have a professional valuation undertaken on your property.
  • Break cost, early termination, deferred establishment or early discharge fees typically apply when you refinance within the fixed term period and they can be upwards of $400.
  • Stamp duty may apply if you increase your mortgage for cash out or equity release purposes.
  • Lenders Mortgage Insurance (LMI) applies if your mortgage is for more than 80% of the property value.

Other costs to consider

  • Some lenders charge both a monthly and annual account keeping fee of $100 or more per year, particularly if you’re on a professional package with an offset account or you have an investment loan.
  • Some lenders charge $50 or more for each withdrawal from a redraw facility while other don’t charge any fee at all.

Is it worth paying the break cost?

Depending on how much you stand to save by switching to a cheaper interest rate with another lender, it may be worth paying the break cost.

You should speak to your mortgage broker to calculate your long term savings getting a cheaper interest rate today rather than waiting for your fixed term to end.

Try our break costs calculator to get an idea of how much your break costs will likely be and talk to your mortgage broker.

After that, complete our online enquiry form to discuss your refinancing plans with one of our experienced brokers.

Do you qualify for a refinance rebate?

A number of major banks and lenders offer refinance rebates and cashback if you refinance your current mortgage over to them.

You have to move fast and specific criteria apply!

Refinance your home loan today

Are you eligible to refinance your home loan?

Find out by calling us on 1300 889 743 or by filling in our free assessment form today.

Why use us?

We aim to set an example by delivering what we promise: a higher level of service, better advice and better home loans.


Australia-wide services

We finance properties anywhere in Australia for people anywhere in the world.


Get incredible interest rates

Our relationships with our panel of lenders allow us to negotiate your interest rate.


We get tough loans approved

We can help you navigate the often complex pre-approval and application process.


Our customers love us

We receive hundreds of love letters from our customers.

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How we find you the right solution

We get a complete understanding of where you’re at and what your ultimate goals are.
You’ll get a recommendation in just a few simple steps.

free assessment

Complete our free assessment form or call us.


We assess your situation.


We look at all the options from our panel of lenders.

suitable home loan deals

We will find you the most suitable home loan deals.

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