Refinance savings calculator
See what a lower rate could save you each month and over the life of your loan, and how quickly the cost of switching pays for itself.
Is refinancing worth it?
- This compares principal and interest repayments over your remaining term at each rate, and assumes the rates don't change.
- If you keep paying your current repayment after switching, you'll pay the loan off sooner and save even more.
- Check whether you'd lose features you use, such as an offset account, and whether a fixed rate has break costs.
- Refinancing means a new credit application, so lenders will reassess your income, expenses and debts.
Not sure if your rate is competitive? Read 5 signs you're paying too much on your home loan.
Important: This calculator gives estimates only, for general information. It isn't credit advice and doesn't take into account your objectives, financial situation or needs, or any particular lender's credit policy. Results rely on the figures you enter and the assumptions described on this page, and actual rates, fees, government charges and lending decisions will differ. Talk to Claire before making a decision.
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Answer eight quick questions to see how ready you are to apply.
Want real numbers from real lenders?
Calculators are a starting point. Claire compares options across her panel of lenders and works out what you can actually get.