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How do you determine if refinancing is worth it?

It’s a good idea to have a clear goal for why you’re refinancing. It could be to save money or to access new features, or perhaps to set a new loan term or to change loan types entirely.

Then, compare your current situation to decide whether you would be better off by refinancing.

Make sure to account for any exit fees from your old lender, and any establishment fees from your new lender. You can use our refinancing calculator to get an idea of your new repayments.

If you’re still unsure, consider seeking financial advice from a professional.

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Legal things about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

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