Estimate the monthly saving, break-even point and total saving from refinancing to a new rate — net of switching costs and any cashback.
What this calculator estimates
Switching your mortgage is a cost-benefit decision, not a rate competition. A lower rate lowers your repayment, but moving lenders carries its own costs — a discharge fee on the old loan, an application or settlement fee on the new one, and sometimes government charges. This tool nets those costs against the saving so you can see three numbers that matter: how much less you would pay each month, how long it takes to recover the switching costs, and what you would save across the remaining term.
What drives the number
Enter your current balance, the years remaining, your current and proposed rates, the switching costs, and any refinance cashback on offer. The monthly saving is the difference in principal-and-interest repayments at each rate over the same remaining term. The break-even point is the switching cost divided by that saving — a useful sanity check, because a sharp headline rate paired with high fees can take years to pay back. One caution the calculator makes plain: stretching the term back out when you refinance lowers the repayment but can raise the total interest you pay.
Use it as a starting point
The headline rate is rarely the whole story. Cashback offers come and go, fees differ, and the lender whose policy actually fits your circumstances may not be the one advertising the lowest number. Treat the result as a conversation-opener, then book a strategy session and we will run your real numbers and check the switch is worth making.
General information only — not personal financial product or credit advice. The estimate is indicative and depends on each lender's policy, current rates, fees and your full circumstances. AeFin is an Australian Credit Representative (CR 464548) of Finsure (ACL 384704).