Refinance Savings Calculator
Refinancing makes sense when the new rate (after fees) saves more interest than the cost of switching. This calculator factors in discharge fees, application fees, and any new-lender setup costs against the lifetime saving.
Break-even in 6 months. Add any LMI on a higher-LVR refinance separately.
Frequently asked questions
What does a typical refinance cost in Australia?
Discharge fees from the outgoing lender are usually $250–$400. Settlement fees, mortgage registration and title transfer in the relevant state add roughly $200–$400. Some lenders charge a "rate-lock" fee on fixed-rate refinances. Cashback offers (still common in 2026) often offset all of these.
When does refinancing not pay off?
When the new rate is less than 0.30% lower than the current rate and there is no cashback, the break-even can sit beyond 24 months. If you plan to sell or pay off the loan in that window, refinancing may cost more than it saves.