Elending Finance

Mortgage Switching Calculator

Our Mortgage Switching Calculator is essential for anyone considering changing their mortgage. It helps evaluate the benefits and costs of switching to a different mortgage plan, including potential savings on interest and fees, empowering clients to make informed refinancing decisions.

Your Current Loan

New Loan

Should You Switch?

Current Monthly Repayment$3,278
New Monthly Repayment$3,073
Monthly Saving$205
Total Switching Costs$950
Break-Even Point4.6 months
Estimated Life-of-Loan Saving$65,310

Life-of-loan saving compares total repayments plus switching costs over each loan's own term — a shorter new term will show a larger saving partly because it pays off faster.

The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you get in touch with us before taking out a loan so that we can provide you with advice that is tailored to your situation.