Would changing my loan help, and how much equity could I release?
Compare a loan offer or explore releasing equity.
These are example figures
Change any of them and the answer updates straight away.What would you like to check?
Your plan
Your loan and the offer
Use the balance you owe today and a rate you have been offered.
Equity you could release
Equity release is borrowing, not income
Equity ceiling
Current loan and costs
Check the remaining term and any lender fees.
Your answer
Less over the full term
$90,680
Scheduled repayments and stated fees
The offer costs $90,680 less over its stated term.
- Monthly outgoings change
- +$306
- Positive means the offer costs less each month
- Rate effect at the same term
- +$306
- Excludes fee and term changes
- Term effect each month
- $0
- Positive means the new term lowers the payment
- Annual interest gap on today’s balance
- +$5,000
- Simple rate gap, not a forecast
Loan balances over time
The loan and offer
- Current repayment each month
- $3,376
- Offer repayment each month
- $3,070
- Rate effect at same term
- +$306
- Loan type change
- $0
- Entered payment adjustment
- $0
- Ongoing fee change
- $0
- Term change
- $0
- Net monthly outgoings change
- +$306
Over the full term
- Current scheduled repayments
- $1,012,811
- Offer scheduled repayments
- $921,131
- Current cost with ongoing fees
- $1,012,811
- Offer cost with fees and estimated LMI
- $922,131
- Indicative mortgage insurance
- $0
- Duty on mortgage insurance (NSW)
- $0
- Offer cost difference
- -$90,680
- Net upfront switching cost
- +$1,000
- Rate-only break-even
- 4 months
- Annual interest difference at same term
- +$92,902
- Net annual-schedule saving after costs
- +$91,902
- Annual costs recovered
- Year 1