Frequently Asked Questions

Refinancing involves switching your home loan to a new lender or product, usually to secure a better interest rate, features, or loan structure. This calculator estimates your potential monthly savings by comparing your current repayments with a new loan.

No. This tool focuses purely on repayment differences. It does not include costs such as discharge fees, application fees, or lender’s mortgage insurance. Speak to a broker to factor in the full picture.

Many borrowers reset their loan term when refinancing to lower their repayments. However, extending the term can increase the total interest paid over time. A broker can help weigh the trade-offs.

Yes, but keep in mind it’s a general guide. Investment loans may have different interest rates or requirements, so it’s worth checking your specific scenario with a broker.

The calculator assumes a principal and interest loan with monthly repayments. It does not currently support interest-only or fixed-rate loans with future rate changes.

Not necessarily. While the calculator shows a saving based on lower repayments, real savings depend on setup costs, break fees, and your future plans. A detailed assessment with a broker is recommended.

If you expect to sell or repay your loan within a few years, a refinance may not offer long-term value unless the savings outweigh the upfront costs.

Use the calculator to estimate your savings, then contact a broker to analyse your full financial situation. A broker can compare multiple lenders and help you understand the best refinancing strategy for your goals.