BGW preparation guide
What does it cost to refinance?
Compare the costs and loan term alongside the interest rate.
Ask for the current loan payout figures
Your existing lender can provide relevant discharge costs and any fixed-rate break-cost estimate. Check when the estimate applies because it may change before settlement.
List the new loan costs
Depending on the loan, costs may include application, valuation, legal and government charges. Confirm ongoing fees too. Ask which costs must be paid upfront and which may be added to the loan.
Keep the loan term visible
A longer term may reduce the repayment while increasing total interest. Compare the remaining term with the proposed new term and consider what happens if you keep paying at the current level.
Distinguish lower repayments from lower costs
Cash-flow relief can matter, but it is a different question from total interest and fees. Compare the rate, repayment, term, features and costs together before deciding.
Use a clearly labelled illustration
For illustration only: $3,000 of upfront switching costs divided by a $150 monthly repayment reduction is 20 months. This simple cash-flow recovery calculation assumes that reduction continues; it does not establish total savings or account for a changed loan term, loan balance, future rates or other costs.
Model the figures, then check the assumptions
The BGW calculator lets you enter upfront and financed costs separately, alongside a new amount, rate and term. Its results are estimates. Brion can help assess the actual lender options and whether the change supports your goals.
Explore the related service →Use the loan comparison calculator →View official scheme resources →
Further reading: Moneysmart: switching home loans. General preparation information; requirements depend on your circumstances and the lender.