Refinance · live
Is your rate still sharp?
Tell us your current loan. We model it against every product on the panel and surface the five with the biggest dollar saving over five years — best of a 60+ lender panel, not anonymous tiers.
We model your current loan against every product on the panel — surface the five that beat what you’re on now, in real dollars saved.
Purpose
Repayment type
Rate type
Current monthly repayment
Updating$3,376 /month
Top 5 alternatives
Mutual bank
Low Rate Essentials
Rate5.94% p.a.
Comp.5.94% p.a.
New repayment~$3,203/mo
~$173/mo saved · ~$10,380 over 5yrs
Before lender fees & cashback claw-back
Mid-tier bank
Real Deal Home Loan
Rate5.99% p.a.
Comp.5.99% p.a.
New repayment~$3,218/mo
~$158/mo saved · ~$9,480 over 5yrs
Before lender fees & cashback claw-back
Lender · attribution pending
Basic Variable Home Loan (No Offset)
Rate5.99% p.a.
Comp.5.99% p.a.
New repayment~$3,218/mo
~$158/mo saved · ~$9,480 over 5yrs
Before lender fees & cashback claw-back
Mid-tier bank
EconoME Home Loan
Rate5.99% p.a.
Comp.6.01% p.a.
New repayment~$3,218/mo
~$158/mo saved · ~$9,480 over 5yrs
Before lender fees & cashback claw-back
Lender · attribution pending
Mortgage Simplifier
Rate5.99% p.a.
Comp.6.04% p.a.
New repayment~$3,218/mo
~$158/mo saved · ~$9,480 over 5yrs
Before lender fees & cashback claw-back
Rates refresh daily · indicative rate basis: owner-occupier · $500,000 loan · $800,000 property · 62.5% LVR · 25-year term
Rates are sourced directly from each lender's broker channel and refreshed daily. Indicative starting rates shown are based on a representative loan of $500,000 over 25 years (62.5% LVR). They are indicative only — final pricing depends on loan amount, LVR, security type, income evidence, and credit history. The Credit Quote we provide before lodgement contains the rate, fees, and commission applicable to your specific application.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
All rates subject to lender credit assessment and policy. Indicative only. Authorised under LMG Broker Services Pty Ltd · ACL 517192.
Indicative only. Savings figures are computed from current panel pricing and the inputs you provide. They exclude application fees, discharge fees, fixed-rate break costs, valuation fees, and any cashback claw-back conditions — which we model on the file. This is general information, not personal credit advice. Eligibility for any product depends on lender policy at the time of application.
Why our number is different
We compute savings client-side from the actual repayment delta, not the lender’s headline. So a $40/mo saving is real money, not a marketing approximation.
What we exclude
Switching costs, exit fees, fixed-rate break costs, and any cashback claw-back if you exit early. A broker will model these for your specific file on the call.
Break-even analysis
The only refinance metric that matters.
A refinance is worth doing when the monthly saving recovers the switching costs inside a window you are comfortable with — typically 12 to 24 months. The headline rate gap is interesting. The break-even point is the answer.
The formula
Monthly saving × N months ≥ total switching costs
Solve for N. That is your break-even point in months. The total switching costs are the sum of your current lender’s discharge fee, government registration fees, the new lender’s application and valuation fees (if any), any legal or settlement fees, and a fair allowance for any cashback claw-back risk on your current loan.
A break-even inside 12 months is excellent. Twelve to twenty-four months is solid. Beyond that, we ask harder questions about whether the rate move is structural or just a honeymoon.
Worked example · illustrative only
$500,000 loan over 30 years, an illustrative 0.25% rate cut
A made-up scenario to show how the break-even maths works — the rates below are illustrative figures, not advertised products, offers or quotes.
Example current rate6.39% p.a.
Example new rate6.14% p.a.
Old monthly repayment$3,123
New monthly repayment$3,043
Monthly saving$80
Discharge fee (current lender)$350
Govt registration fees$280
Application + valuation (new)$0
Legal / settlement$220
Total switching costs$850
Break-even11 months
In this illustration, after eleven months every dollar of monthly saving is pure gain. Over a five-year horizon, an $80 monthly saving compounds to $4,800 — net of switching costs, $3,950 in your pocket. Your own numbers depend on the lender’s full assessment of your file.
A cashback would shorten this break-even, but serious cashback offers have all but disappeared from the market — do not count on one carrying the decision. The rate, the fees and the five-year cost are what move the break-even now. If a cashback does happen to be on the table, treat it as a small bonus and remember it usually comes with a claw-back clause if you exit inside 18–24 months.
Three traps in refinance pricing
What the brochure won’t tell you.
Every lender wants the loan. Some price honestly. Others bury the cost in the second year or in fine print. Three patterns to watch for.
Trap 1
Honeymoon rates
A sharp introductory rate that reverts after 12 or 24 months — often by 0.30% to 0.60%. The first-year saving looks great on the spreadsheet; the second-year cost erases most of it. Always model the revert rate as the real cost, not the honeymoon rate. We weight our five-year cost figure accordingly.
Trap 2
Cashback claw-back
Almost every cashback offer comes with a claw-back if you discharge inside 18–24 months. Refinance, take the $3,000, then refinance again at month 14 — you owe the cashback back. The clause is usually buried on page eleven of the loan offer. We pull it out and flag it before you sign.
Trap 3
Headline vs comparison rate
The headline rate is advertised. The comparison rate factors in fees, package costs and known charges. A package loan with a 5.99% headline and $395 annual fee can have a comparison rate of 6.15% — meaningfully sharper-looking on the billboard than it actually is in your account. Always compare like for like.
When not to refinance
Sometimes the cheapest move is to stay put.
If you are on a fixed rate
Breaking a fixed rate is not free. The bank’s calculation is based on the difference between your contracted rate and the current wholesale rate, multiplied by the remaining fixed term. On a $500K loan with 18 months left and a 1.5% gap to wholesale, the break fee can land at $11,000 or more. Sometimes refinancing still wins. Often, if you are in the last 12 months of the fixed term, the cheapest answer is to ride it out and refinance at roll-off. We pull a formal break quote before we recommend a move.
If you are consolidating non-housing debt
Rolling a $20,000 credit card into a 30-year home loan at 6% feels like instant relief. The credit card rate disappears. The trap is that $20,000 over thirty years is roughly $43,000 paid back — you have just signed up for three decades of interest on a television. If you are consolidating, we set up a separate split with an accelerated repayment schedule so the non-housing debt is cleared in three to five years, not amortised over thirty.
Common questions
The honest answers.
Deeper read
How to refinance in 2026 — the playbook.
The five signs it is time to look, the broker-versus-bank comparison, the document checklist, and what the cashback offers really cost you.
Refinance only if it’s worth it