If you haven’t reviewed your home loan in a couple of years, you could be paying more than a new customer. We compare lenders, give you a straight answer on whether switching is worth it, and handle the paperwork if it is.
Lenders often save their sharpest rates for new customers. Even a small rate cut can save thousands over the life of a loan.
If your home has gone up in value, you may be able to borrow against it to renovate, invest or cover a big expense.
Rolling higher-interest debts like car loans or credit cards into your home loan can cut your monthly repayments. It can also mean paying them off over a longer time, so we'll show you both sides.
Add an offset account, split between fixed and variable, or find a new home for your loan when a fixed rate ends.
Switching lenders comes with costs, so we always compare them with the potential savings before you decide. These may include a discharge fee from your current lender, government fees to register the new mortgage and, in some cases, application or valuation fees.
If you’re on a fixed-rate loan, ending it early may incur a break cost. Lenders mortgage insurance may also apply if you’re borrowing more than 80% of your home’s value.
Some lenders offer cashback incentives for switching. While these can be appealing, we focus on the total cost of each loan over time—not just the upfront incentive.
1
We look at your rate, balance, features and any fixed-rate terms.
2
We compare lenders and show you what you'd save after switching costs, or whether it's better to stay put.
3
We prepare the application and the lender values your property.
4
The new lender pays out your old loan at settlement. We look after the paperwork in between.
It's worth asking, and sometimes it works. Knowing what other lenders would offer gives you a stronger case, and if your lender won't move, switching may save you more.
A loan application adds an enquiry to your credit file. That's why we compare options first and only apply once you've chosen a lender.
Yes, but your lender may charge a break cost. We can help you get the figure from your lender so you can see whether switching still makes sense.
Lenders generally prefer you to borrow no more than 80% of your property's value to avoid lenders mortgage insurance. Above that, refinancing is still possible but usually costs more.
This information is general in nature and doesn't take into account your objectives, financial situation or needs. Consider whether it's appropriate for you before acting. All loans are subject to lender approval, and terms, conditions, fees and charges apply.
Book a free review of your current loan. It costs nothing and doesn't affect your credit score.
