The amount you could save by refinancing depends on your outstanding loan balance, current interest rate, new interest rate, remaining loan term and switching costs. This refinance calculator helps you estimate potential savings when comparing home loan options.
Refinancing may be worthwhile if you can secure a more competitive interest rate, reduce fees, access useful loan features or restructure your mortgage. Consider discharge fees, application costs and the total interest payable over the loan term.
Not necessarily. When refinancing, you may be able to select a loan term that suits your circumstances and the lender's requirements. Extending your loan term could reduce monthly repayments but increase the total interest paid over time.
Yes. You may be able to negotiate a better interest rate or switch to another loan product with your existing lender. Comparing other lenders can help you determine whether a more suitable refinancing option is available.
