If you haven't reviewed your home loan in a couple of years, there's a good chance you're paying more than you need to. But refinancing isn't always the right move. Here's how to think about it.
Signs it might be worth refinancing
- Your rate is higher than what's currently on offer
- You want features your current loan doesn't have (offset, redraw)
- You'd like to access equity for renovations or investing
- Your fixed rate is ending and reverting to a higher variable rate
- You want to consolidate other debts into a lower-rate loan
What refinancing can cost
Switching isn't free. Watch for:
- Discharge fees on your current loan
- Application or valuation fees on the new loan
- Government registration fees
- Break costs if you're on a fixed rate
The savings need to outweigh these costs for refinancing to make sense.
Run the numbers
Our refinance savings calculator compares your current repayment with a new rate so you can see the potential monthly and total saving.
Get a straight answer
We'll benchmark your loan against the market and tell you honestly whether switching is worth it — and handle the whole process if it is. See if you can save.