Mortgage switching calculator

Compare your current mortgage with a new one. See what you could save after switching costs, and when you would break even. A lower repayment over a longer term can cost more interest, and the results show when it does.

Net lifetime saving

Break-even iHow long the monthly saving takes to recover your one-off switching costs.

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New repayment

Lifetime interest saved

Repayment saving / month

Your loans

Example figures are filled in. Enter your own.

Repayment frequency

Your current loan

Loan balance owing

Current rate 6.59%

Years remaining 27 yrs

Current repayment (optional override) iLeave this blank and we work out the repayment from the figures above. Enter a figure only if you repay a different amount, for example if you pay extra.

$ /mo

Auto: $4,299 /mo based on the figures above.

The new loan

New rate 5.94%

New term 27 yrs

Keep the term at your years remaining to compare like-for-like. Stretching it back out to 30 years lowers the repayment but usually adds interest. The results panel flags this.

Switching costs

one-off

Discharge fee

Application / establishment

Valuation fee

Fixed break cost (if fixed) iBreak (economic) costs apply only if you exit a fixed-rate period early. Variable loans usually have none. Ask your current lender for the figure.

New lender cashback (optional) iSome lenders offer a cashback when you refinance. It reduces your switching costs and can put you ahead from the start.

Ongoing / annual fees

per year

Current annual fee

New annual fee