Refinancing and switching

Is your home loan still the right fit?

Moving your mortgage to another lender, or restructuring it with your current one, to get a better rate, a cashback or a structure that suits you now. The gain has to beat the costs: break fees, legal costs, any cashback you'd have to repay, and any adviser clawback fee.

Talk to an adviser Switching lenders calculator

Who it suits

Borrowers whose fixed term is ending
Anyone paying a high floating rate
Borrowers wanting to combine debts or release equity

What lenders look at

Your current income and expenses, assessed fresh
Your repayment history on the current loan
Your home's current value

What to prepare

Tick them off as you go.

Current loan statements
Proof of income
Bank statements
Details of any cashback received in the last few years

Questions to ask

What is my break cost today?
Will I have to repay a cashback?
Is there an adviser clawback fee if I leave early?
Will my current bank match the offer?

Everyone's situation is different. Lenders weigh things differently and small details change the answer. An adviser can tell you where you stand with refinancing and switching and what to do next.

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Run the numbers

Calculators for this

All calculators

Switching

Switching lenders

See if refinancing pays once break costs, fees and cashbacks are counted.

Calculate now Repaying

Split loan

Model a loan split between a fixed rate and a floating rate.

Calculate now Repaying

Lump sum repayment

See what a one-off payment does to your loan.

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Learn more

Guides

Switching · 1 min read

Break costs, explained

If you leave a fixed rate early, the lender may charge a break cost. It applies when the lender's cost of funding has fallen since you fixed, because…

Read the guide Switching · 1 min read