Switching lenders
See if refinancing pays once break costs, fees and cashbacks are counted. No upper limits.
Example figures are filled in. Replace them with your own.
Net gain over 24 months
$12,269
Switching comes out ahead- Interest saved
- $10,769
- Cashback, after any clawback
- $3,000
- Break cost and fees
- −$1,500
- Monthly repayment now
- $3,936
- Monthly repayment after switching
- $3,610
- Costs paid back in
- Straight away
Interest is worked out month by month on the balance at each rate over 24 months, then cashback is added and every cost, including any adviser fee, taken off.
Everyone's situation is different. These figures are a starting point. An adviser can run a personalised calculation with your real numbers and current lender policies.
Results are estimates for planning, using standard loan maths, and should be used as a guide only. They assume rates stay the same and leave out fees you haven't entered. They are not an offer or approval of finance, and not financial advice.
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Everyone's situation is unique. An adviser can run a personalised calculation with your real figures.