Understand your mortgage before deciding what to change.
Mortgage freedom is influenced by more than finding another interest rate. Repayments, fees, loan features, offset balances, additional borrowing and the remaining loan term can all affect how long the mortgage may last and what it may cost.
Use these tools and educational guides to explore the numbers, understand important trade-offs and prepare better questions before deciding whether to stay, request repricing or consider refinancing.
The calculators and guides provide general information and estimates. The written Review uses your supplied loan information and stated assumptions.
Educational content and calculator results are general only. They are not a loan offer, lender valuation, credit approval or guarantee of savings, suitability or earlier repayment.
Five questions to answer before comparing loans.
Before looking at another product, build a clear picture of the mortgage you already have.
- Question 1
What is the current balance?
Use the most recent available loan balance rather than the original amount borrowed.
- Question 2
What rate, fees and features apply?
Record the current interest rate, annual or package fees, offset balance, redraw arrangements and any fixed-rate period.
- Question 3
How much time remains?
The remaining loan term helps explain the likely repayment path and provides a fairer basis for comparing alternatives.
- Question 4
When might the current loan be repaid?
Estimate the mortgage-free date using the current repayment approach and clearly stated assumptions.
- Question 5
What do you want to understand?
The objective may be to assess total interest, repayment timing, cash-flow flexibility, current-lender pricing, switching costs or the effect of additional borrowing.
A useful comparison starts with the current loan. It does not start with the assumption that refinancing is required.
Explore the Repayment CalculatorMortgage Freedom calculators.
These tools provide estimates using the information entered. They can help illustrate possible effects, but they do not assess product suitability, borrowing capacity or credit approval.
Home Loan Repayment Calculator
Estimate repayments, total interest and the possible effect of an offset balance using selected loan assumptions.
Results depend on the rate, term, repayment frequency and assumptions entered.
Open the repayment calculatorRefinance Break-Even Calculator
Estimate how long a potential repayment difference may take to recover the switching costs entered.
The result is an estimate and does not establish that refinancing is suitable.
Open the break-even calculatorEquity and LVR Calculator
Estimate the relationship between a property-value assumption and the current loan balance.
This is not a lender valuation, approved borrowing amount or recommendation to increase debt.
Open the equity and LVR calculatorCalculator estimates should be checked against lender product terms and the customer’s actual loan information before a decision is made.
Understand the difference between staying, repricing and refinancing.
A review should compare the relevant options rather than treating a lender change as the only successful result.
Stay with the current loan
Keeping the existing loan may be reasonable when it remains suitable or when the potential benefit of changing does not justify the costs, disruption or trade-offs.
Ask the current lender to reprice
A repricing request may lead the current lender to review its rate or pricing. Any revised offer should still be considered with fees, features and relevant alternatives.
Consider refinancing
A suitable lender-panel alternative may warrant investigation when the potential benefit appears worthwhile after switching costs, loan term, features, eligibility and trade-offs are considered.
Understand refinance break-evenA lower rate or repayment does not automatically establish a lower total cost. Compare the remaining term, product fees, switching costs and repayment assumptions.
Loan features can affect cost, flexibility and behaviour.
A feature is useful only when its likely benefit, cost and practical use fit the customer’s circumstances.
Offset accounts
Understand how an eligible offset balance may affect interest, as well as the fees and behavioural factors that should be considered.
Read the guideRedraw facilities
Understand how redraw may differ from an offset account and how access may depend on the product’s terms.
Read the guideFixed and variable rates
Explore rate certainty, flexibility, break-cost considerations and the risks of predicting future interest-rate movements.
Read the guideChanging the loan term
See how shortening or extending the term can affect required repayments, time in debt and estimated total interest.
Read the guideUnderstand equity before deciding whether to borrow against it.
Equity describes the difference between a property-value assumption and the amount secured against the property. It is not cash, approved borrowing capacity or proof that additional borrowing is suitable.
If someone is considering using equity, the decision should make visible:
- The proposed increase in debt.
- Valuation uncertainty.
- Lender policy.
- Affordability.
- Upfront and ongoing costs.
- The proposed repayment term.
- Estimated total interest.
- The effect on the mortgage-free date.
- The risk of securing additional debt against the home.
- Alternatives to borrowing.
Understand equity and LVR
Loan-to-value ratio (LVR)
What LVR means, how it is calculated and why lenders pay attention to it.
Read moreEquity and accessible equity
How equity is measured and why an indicative figure is not an approved borrowing amount.
Read moreLenders Mortgage Insurance (LMI)
When LMI may apply, who it protects and how it can affect the cost of a loan.
Read moreBefore considering additional borrowing
These guides explain how additional borrowing may work and what should be considered. They do not recommend increasing a mortgage for a particular purpose.
Debt consolidation trade-offs
How moving short-term debts into a home loan is assessed, and why a lower repayment can mean more total interest.
Understand the trade-offsRenovation borrowing
What lenders may consider when funds are used for renovations, and how the term chosen changes the total cost.
Understand the trade-offsInvestment-property deposit
The considerations that can apply when equity is used toward a deposit on an investment property.
Understand the trade-offsBusiness borrowing
What may be weighed when home equity is considered in relation to business funding.
Understand the trade-offsAdditional borrowing generally increases debt secured against the property and may delay mortgage freedom. It may not be suitable even when equity appears to be available.
See how different mortgage decisions may be assessed.
These scenarios are educational examples only. They are not actual customers, personal recommendations, lender quotes or forecasts of what another homeowner will achieve.
The Rate-Drift Recovery
Works through a rate that has drifted from newer offers, and whether repricing or refinancing may warrant investigation.
Explore the scenarioEducational only—not an actual customer outcome.
The Debt Consolidator
Weighs moving short-term debts into a home loan against total interest, loan term and the risk of securing those debts against the home.
Explore the scenarioEducational only—not an actual customer outcome.
The Renovator
Explores whether borrowing against equity for a renovation may be worth the added debt, repayment effect and longer-term interest.
Explore the scenarioEducational only—not an actual customer outcome.
The Downsizer
Considers how equity, loan structure and timing may interact when a future sale or downsize is being planned.
Explore the scenarioEducational only—not an actual customer outcome.
The Investor
Examines using equity toward an investment-property deposit, including the added secured debt and assessment considerations.
Explore the scenarioEducational only—not an actual customer outcome.
Learn how home-loan decisions and processes work.
Refinance timeline
Understand the common stages that may apply if a refinance application proceeds. Timelines and requirements vary.
Read the guideHome-loan jargon glossary
Review common mortgage and refinancing terms in plain language.
Open the glossaryTurn the learning into a written view of your own mortgage.
Calculators and educational guides can help you understand concepts and explore assumptions. They cannot determine whether a particular loan, repricing request or refinance is suitable for you.
The Mortgage Freedom Review uses the current loan information you provide to outline the estimated repayment path, possible scenarios, relevant costs and the Stay, Reprice or Refinance paths that may warrant discussion.
- Current-loan snapshot.
- Estimated mortgage-free date.
- Repayment and interest scenarios.
- Relevant costs, assumptions and trade-offs.
This starts an enquiry—not a loan application, approval or requirement to change lenders.
The information and calculators in this Learn Hub are general and educational. Results depend on the information entered and the assumptions used. They do not take account of every customer’s objectives, financial situation or needs and do not constitute approval, a loan offer, valuation, legal advice, tax advice or financial advice. Consider the relevant product terms, costs and professional advice where appropriate.
Important — General Information Only
This information is general in nature and does not take into account your personal objectives, financial situation or needs. It is not personal advice, credit advice, tax advice or legal advice, and is not a recommendation to enter into, refinance, or remain in any particular credit contract. Any figures, calculations, or projections shown are simplified examples for illustration only — they are not guarantees or forecasts, and actual outcomes will vary based on your circumstances and the lender's assessment.
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