Refinancing
Refinance Your Home Loan and Stop Overpaying
40+
Lenders compared
Free
Loan health check
2–4wk
Typical switch time
$0
Cost to you
Real Savings Maths
We include discharge fees, application costs and LMI so the savings we show you are the savings you actually get.
Debt Consolidation
Roll car loans, personal debt and credit cards into one lower-rate repayment where it makes sense.
Cash-Out & Renovation
Refinance to access equity for renovations, a deposit on your next property, or business cash flow.
We Do the Legwork
Discharge forms, valuations and lender follow-ups are handled for you — you sign and we chase.
Refinance Savings Guide
How much can you save by refinancing?
The savings come from the gap between your current rate and what's available today.
If you haven't reviewed your home loan in the last two to three years, you're likely paying a loyalty tax — often 0.50% to 1.00% above the best rates offered to new borrowers.
A 0.50% to 1.00% rate cut can free up roughly $150 to $350 per month, or save roughly $108,000 to $127,000 in interest over the life of a $500,000 loan.
The number that matters most is your break-even period — how long it takes for the monthly savings to cover the discharge and setup costs. We model this before recommending any switch.
Keep your remaining loan term the same when you refinance. A longer term can lower your monthly payment but increase the total interest you pay.
Estimated monthly savings by loan size
| Loan Size | 0.5% Rate Reduction | 1.0% Rate Reduction |
|---|---|---|
| $300,000 | ~$90 – $105/month | ~$180 – $210/month |
| $500,000 | ~$150 – $175/month | ~$300 – $350/month |
| $800,000 | ~$240 – $280/month | ~$480 – $560/month |
The costs you need to subtract from those savings
Refinancing is not free, and an honest savings estimate starts by accounting for what it costs. For a straightforward variable-rate-to-variable-rate refinance in Australia, the main fees typically include:
- Discharge fee (from your current lender): $150 to $500
- Application or establishment fee (from the new lender): $0 to $750
- Settlement or legal fees: $100 to $800
- Mortgage registration and deregistration fees (vary by state): for example, NSW sits at $166.60 each way, Queensland at $238.14, and Western Australia at $216.60
Total costs for a standard variable refinance usually land between $500 and $1,500. That's the number to subtract from your mortgage refinance savings estimate before drawing any conclusions.
Want exact savings for your loan? We can run the numbers in minutes.
Good reasons to refinance
How It Works
Your path to approval
Loan Health Check
We review your current rate, structure, fees and remaining term.
Compare the Market
We shortlist lenders that beat your current deal on total cost.
Apply & Value
We lodge the application and manage the valuation and approval.
Switch & Save
Your old loan is discharged and your new, better loan settles.
Let's get your finance sorted
Free consultation · No obligation · 40+ lenders compared
Frequently asked questions
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Related guides
Plain-English explainers with sources, if you want the detail before you talk to us.
- How to refinance a home loan, from loan check to settlement day
- Debt consolidation: personal loan or roll it into your home loan?