Mortgage Switching Costs Calculator

Rates and Fees verified correct on April 28th, 2017

How much will switching to a new lender cost you?

Refinancing can be expensive, so if you’re thinking of switching your home loan over to one with a different lender, you want to be sure that you’re going to get better value, in addition to better features and/or lower fees.

To help with this, the mortgage switching costs calculator gives you an answer to the following questions:

  • How much time off your loan term will your new loan shave off?
  • How long will it take to recover refinancing fees with your new loan?
  • How much will you save over the course of your loan by switching?

Using this information, you can decide whether or not refinancing will be worth it for you. Simply get the information required from your current loan and enter in the relevant information required about the loan you’re thinking of refinancing to.

Embed this calculator on your website

If you embed this graph on your website it will be automatically updated every month.


How to use the mortgage switching costs calculator

To use the switching costs calculator you’ll need some information about your current loan and also the loan you’re thinking of refinancing to.

You’ll need to enter in your:

  • Loan amount - This is the current loan balance you’re thinking of moving over to a new lender
  • Repayment frequency - This is how often you make your repayments, and is used to give you a relevant repayment figure
  • Loan term - This is how long your loan term will be when refinancing

For your current loan the information you’ll need to enter in includes your ongoing fees such as monthly and annual fees and the exit fee you’ll have to pay. If your loan still has an introductory interest rate enter in how long it still has and the introductory rate. Finally you’ll need to enter in the interest rate you’re currently paying.

Next, enter in the details of the loan you’re interested in refinancing to. If you haven’t found one yet start a comparison and find a loan which suits your needs. You can also look below for some loans to compare.

Once this information is entered in scroll down to the last section of the calculator. Here you’ll be able to see the long term savings you’ll make over the course of your loan by refinancing to your chosen loan.

There’s a graph which will show you the amount you’ll save, and a table which displays the minimum repayments needed to pay this loan off in the time period you’ve set.

If you scroll down further you’ll see three summary boxes showing you:

  • How much earlier you’ll pay your new loan off
  • How long it will take you to recover the refinancing fees after your move to your new loan
  • How much you’ll save with your new loan

Compare refinancing home loans

Rates last updated April 28th, 2017.

View latest updates

Jodie Humphries Jodie
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)
A fixed rate package loan with flexible repayments options. NAB Rewards Points offer available, terms and conditions apply.
3.98% 4.97% $0 $395 p.a. 95% Go to site More info
HSBC Home Value Loan - Resident Owner Occupier only
Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.
3.75% 3.77% $0 $0 p.a. 90% Go to site More info
3.74% 3.74% $0 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier, P&I)
Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.
3.94% 4.32% $0 $395 p.a. 95% Go to site More info
CUA Fresh Start Basic Variable Home Loan - Owner Occupier
A basic mortgage with flexible repayments options.
3.99% 4.04% $795 $0 p.a. 90% Go to site More info
Greater Bank Great Rate Discount Variable with Family Pledge Home Loan - Up to 110% LVR
Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.89% 3.89% $0 $0 p.a. 110% Go to site More info
IMB Accelerator Home Loan  - LVR <=80% $300k+ (Owner Occupier)
A two year discounted rate which reverts to an ongoing life of loan discount afterwards.
3.89% 4.59% $445 $0 p.a. 80% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.59% 4.48% $0 $375 p.a. 85% Go to site More info
QT Mutual Bank Mortgage Saver Home Loan
A low rate home loan with no application or ongoing fees.
3.95% 3.95% $0 $0 p.a. 95% Go to site More info
Australian Unity Kick Starter Home Loan
$0 ongoing service fees, maximum 80% LVR and a linked transaction account.
3.84% 3.87% $600 $0 p.a. 80% Go to site More info
Bank Australia Basic Home Loan - Variable (Owner Occupier)
A competitive variable that allows borrowers to borrow a minimum of $100,000 with a $0 ongoing fee.
3.86% 3.90% $595 $0 p.a. 80% Go to site More info
IMB Budget Home Loan - LVR <=90% (Owner Occupier)
A competitive budget rate without any unwanted bells and whistles.
3.97% 4.02% $445 $0 p.a. 90% Go to site More info
Heritage Bank Discount Variable Home Loan - Special Rate Offer (Owner Occupier) New Customers Only
A great interest rate home loan offer with unlimited redraw and unlimited extra payments.
3.89% 3.91% $0 $0 p.a. 95% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate, P&I)
A limited time 2 year fixed rate for owner occupiers. Conditions apply.
3.89% 4.87% $0 $0 p.a. 95% Go to site More info
ING DIRECT Orange Advantage Loan - $150,000+ (LVR <= 80% Owner Occupier)
Pay no annual fee for the first year with this packaged variable rate home loan with offset.
3.89% 4.11% $0 $199 p.a. 80% Go to site More info
Bank Australia Premium Home Loan Package - LVR<=80% $700k + (Owner Occupier)
Enjoy the discounted interest rate with redraw facility and no ongoing fees.
3.82% 4.17% $595 $350 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier Special Rate, P&I)
A limited time fixed rate home loan with extra repayment abilities. Conditions apply.
3.99% 4.80% $0 $0 p.a. 95% Go to site More info
Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier)
A competitive rate with redraw facility. NSW, QLD and ACT residents only.
3.99% 3.99% $0 $0 p.a. 85% Go to site More info
CUA Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
A fixed home loan with no ongoing fees and flexible repayments options.
3.84% 4.71% $600 $0 p.a. 95% Go to site More info
Bank Australia Premium Home Loan Package - 2 Year Fixed (Owner Occupier) LVR < 80%
A discounted 2 year fixed rate loan with high maximum LVR and no application fee.
3.94% 4.35% $595 $350 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Standard Rate, P&I)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your home value.
4.59% 5.00% $0 $0 p.a. 95% Go to site More info
ME Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier)
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
4.19% 4.82% $0 $0 p.a. 95% Go to site More info
Australian Unity Health, Wealth and Happiness Package - (Owner Occupier)
Get a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
4.05% 4.08% $600 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Standard Rate, P&I)
Get a short term fixed rate for that investment property with no application or ongoing fees.
4.59% 5.05% $0 $0 p.a. 95% Go to site More info
4.09% 4.09% $0 $0 p.a. 80% Go to site More info
NAB Base Variable Rate Home Loan - Owner Occupier (P&I)
A competitive no frills home loan with no application fees for a limited time. NAB Rewards Points offer available, terms and conditions apply.
4.17% 4.21% $600 $0 p.a. 95% Go to site More info
ME Basic Home Loan - LVR <=80% Owner Occupier
A low variable rate loan with no application or ongoing fees.
4.09% 4.11% $0 $0 p.a. 80% Go to site More info
IMB Essential Home Loan - LVR <=90% (Owner Occupier)
100% offset account, unrestricted additional repayments and no monthly account keeping fees
4.19% 4.19% $0 $0 p.a. 90% Go to site More info
ANZ Simplicity PLUS Home Loan - Special Offer (Owner Occupier, P&I)
Enjoy a home loan with no application fee or ongoing fee.
4.03% 4.07% $0 $0 p.a. 95% Enquire now
3.88% 3.89% $600 $0 p.a. 90% Enquire now
St.George Basic Home Loan - Promotional Rate (Owner Occupier, P&I)
A no frills loan with a competitive rate and a maximum LVR of 95%.
3.88% 3.89% $0 $0 p.a. 95% Enquire now
Commonwealth Bank Wealth Package Fixed Home Loan - 2 Year Fixed (Owner Occupier) P&I
A package home loan with fee free extra repayments available during the fixed term.
3.99% 4.99% $0 $395 p.a. 95% Enquire now
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier, P&I)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cash back available for refinancers, conditions apply.
3.99% 5.04% $0 $395 p.a. 95% Enquire now
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years, P&I
A low interest rate home loan and competitive two year fixed rate.
3.88% 4.94% $0 $395 p.a. 95% Enquire now
Virgin Reward Me Variable Home Loan - LVR <= 80% ($750k+ Owner Occupier)
A variable rate home loan with competitive interest rate and flexible product features that can earn Velocity points.
3.79% 3.92% $0 $10 monthly ($120 p.a.) 80% Enquire now
UBank UHomeLoan - 3 Year Fixed Rate (Investor)
Pay no ongoing fees on this investment loan fixed for 3 years.
4.09% 4.46% $395 $0 p.a. 80% Go to site More info
UBank UHomeLoan Variable Rate - Real Reward Offer (Owner Occupier Interest Only)
A home loan with a competitive variable rate and no bank fees.
4.13% 4.13% $0 $0 p.a. 80% Go to site More info
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier)
Refinance your home loan on a low fixed rate term backed by NAB.
3.69% 4.15% $395 $0 p.a. 80% Go to site More info

Enter your details to speak to a broker from Aussie about a home loan

Are you an Australian Citizen or permanent resident?

Applications are subject to approval. Conditions, fees and charges apply.

Credit services for Aussie Select and Aussie Optimizer products are provided by AHL Investments Pty Ltd ACN 105 265 861 ("Aussie") and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133. Credit for Aussie Optimizer products is provided by Perpetual Ltd ACN 000 431 827.

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a partly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. © 2017 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

By submitting this form, you agree to the finder.com.au privacy policy and the Aussie privacy policy.

Aussie Home Loans Logo

Aussie can save you time and effort by helping you research, organise and apply for your home loan. They compare thousands of home loans to help find the right deal for you. Fill out the form on the left and an Aussie Mortgage Broker will meet you at a time of your choosing to discuss your needs and help you find the right home loan.

Aussie Home Loans Lender Logos

Frequently asked questions about refinancing

Do I need to pay LMI twice?

Yes, unfortunately if your Loan to Value Ratio (LVR) is still over 80% when you refinance you’ll have to pay Lender’s Mortgage Insurance (LMI) again. In some cases, if you’ve only had your loan for a a couple of years of less your LMI provider might refund you part of the fee you paid. In any case you should ask.

This is overwhelming, who can help me decide if it’s worth refinancing?

A mortgage broker can be useful in this situation. They will help you compare home loans and work out how much you might be able to save by switching home loans. Because they receive a commission from your lender, they usually won’t charge you.

Why should I refinance?

It’s useful to refinance for a number of reasons. You might want to get a better rate on your home loan, get a home loan with lower fees, or get access to features such as offset accounts and redraw facilities which you didn’t have access to previously.

Was this content helpful to you? No  Yes

Related Posts

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)

A fixed rate package loan with flexible repayments options. NAB Rewards Points offer available, terms and conditions apply.

IMB Budget Home Loan - LVR <=90% (Owner Occupier)

A competitive budget rate without any unwanted bells and whistles.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

4 Responses to Mortgage Switching Costs Calculator

  1. Default Gravatar
    home | April 3, 2016

    Im currently with ANZbank and would like to switch lenders to receive a better rate

    • Staff
      Belinda | April 4, 2016

      Hi there,

      Thanks for reaching out.

      Our home loan refinancing page explores the refinancing process, as well as the costs and benefits involved. If you enter your current loan details into the table provided and then hit ‘calculate’, you’ll be able to see how much you could save by switching to each of the products listed in the table.

      If you need personal advice about your refinancing options, please speak to a licensed mortgage broker.

      All the best,
      Belinda

  2. Default Gravatar
    eric | September 12, 2015

    How can I quickly compare entry and exit fees on homeland

    • Staff
      Belinda | September 14, 2015

      Hi Eric,

      Thanks for your enquiry.

      Above on this page, you can use our mortgage switching costs calculator to estimate the exit fees of an existing home loan and the entry fees of a new home loan.

      You can find this information by contacting both your existing and new lender by requesting all the fee details of their loans, or you may find it useful to review the terms and conditions of these home loan products.

      Thanks,
      Belinda

Ask a question
feedback