Switching your home loan to another lender or product could potentially save you thousands of dollars in interest, or at least give you the advantage of handy features such as off-setting.
ASIC’s Moneysmart website has a mortgage switching calculator to help you work out:
- whether you will save money by switching to another mortgage
- how long it will take to recover the cost of switching
- the benefits of making higher repayments instead of the minimum.