Mortgage Switching Calculator

This Mortgage Switching Calculator helps determine whether switching to a new loan is the right option for you and it analyses three scenarios (1) not switching and keep repaying the currently loan (2) switch to a new loan and make the minimum repayment or (3) switch to a new loan and keep current and higher repayment if possible.

Mortgage Switching Calculator


Mortgage Switching Calculator Assumptions

  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, the interest compounding frequency may not be the same as the repayment frequency.
  • It is assumed that a year consists of 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout the calculation, whereas repayments are rounded to at least the nearest cent in practice.
  • This calculator does not take into account some loan features such as redraw facilities and offset accounts etc.


This Mortgage Switching Calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. You should always discuss your individual situation with an Australian Credit Licensee or Authorised Credit Representative.

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