Find out if you can lower your home loan repayments in 60 seconds.
Let's face it, things are expensive right now. Between mortgage repayments, groceries, bills and everything else, there's not much left over each month.
Sometimes it's not about paying your loan off faster or getting the best deal. It's about making repayments manageable and giving yourself some breathing room until things ease up.
Your home loan could be one place to find it. Fill out the form and we'll text you an estimate of how much you could free up each month.
Your personalised estimate, sent straight to your phone by SMS.
What could a little breathing room look like?
A few hundred dollars extra each month could make a real difference to the household budget.
Same loan. Same interest rate. A longer repayment term.
Current monthly repayments
$4,158
Monthly repayment reduction
$405
New monthly repayments
$3,753
That's $405 back in your pocket each month, around $4,860 a year.
Example based on a $600,000 loan limit at 6.4% interest, with the remaining term extended from 23 to 30 years. Actual results depend on your loan, lender approval and associated costs.
HOW IT WORKS
Give yourself breathing room now,
without giving up your long-term plans
Your mortgage is a long-term commitment, but life changes.
Extending your loan term may mean paying more interest overall, but it can also give you some breathing room today, with the flexibility to increase repayments again when your budget allows.
Keep your property
Stay in the property you own, with the potential to benefit from future property growth.
Ease the pressure now
Lower minimum repayments can leave more room for everyday expenses.
Get ahead again later
Increase repayments when your budget allows, or review your loan as rates change.
FAQs
How can I reduce my repayments without getting a lower interest rate?
By refinancing your home loan over a longer term, you may be able to reduce your minimum monthly repayments, even if your interest rate stays the same. You're spreading the repayments over more years, which can free up money in your monthly budget.
Will I end up paying more interest?
Potentially, yes. Extending your loan term generally increases the total interest paid if you only make the new minimum repayments.
But that doesn't mean you have to keep paying the minimum forever. Depending on your loan, you may be able to make extra repayments or review your loan structure again when your finances improve.
What if interest rates come down later?
You can review your home loan again. If rates fall, you may have opportunities to reduce your repayments further or put more towards paying off your loan sooner. It depends on your lender, loan structure and circumstances.
Will I have to change banks?
Not necessarily. We'll look at your current loan and what's available to see whether refinancing makes sense. Sometimes staying with your existing lender may be the better option.
Does the 60-second check cost anything?
Nope! The check is completely free, and there's no obligation to refinance. We'll text you an estimate based on the details you provide. If it looks worthwhile, one of our brokers can talk you through your options.
Will checking affect my credit score?
No. Completing our 60-second check won't affect your credit score. It's an initial estimate, not a formal loan application. If you decide to explore refinancing, we'll explain any credit checks involved before proceeding.
Ready to find out how much you could free up each month?
It only takes 60 seconds to see how much you could potentially reduce your monthly mortgage repayments.
We'll calculate your estimated reduction and text you the result. No paperwork, no obligation, just a quick way to see what's possible.
If your results suggest you could free up some extra cash each month, one of our brokers will be in touch to explain how it could work for you.
Your 60-second Repayment Check includes:
✓ An SMS with your estimated monthly repayment reduction
✓ A calculation based on your loan details and a longer repayment term
✓ An honest assessment of whether it's worth exploring further
✓ A chat with one of our brokers to explore your options if you could benefit.
1300 657 132