Mortgage Rate Check

Is your mortgage rate costing you thousands?

Australians on the Big 4 standard variable rate are typically paying 1.5-2% above the best available rate. On $600k, that is $9,000-$12,000 per year.

Step 1 of 8
What type of loan is this?
Owner-occupied You live in the property
Investment property You rent it out or it is vacant
Step 2 of 8
Is the loan principal and interest, or interest only?
Principal and interest (P&I) You pay down the loan balance each month
Interest only Your balance does not reduce with each payment
Step 3 of 8
What is your approximate outstanding loan balance?

Rough figure is fine. Used only to calculate your estimated savings.

Step 4 of 8
What interest rate are you currently paying?

Check your most recent statement or your lender's app.

Step 5 of 8
Who is your lender?
Big 4 — ANZ, CommBank, Westpac, or NAB Australia's four major banks
Second tier — Macquarie, ING, Suncorp, BOQ, Bendigo, AMP Mid-size Australian lenders
Non-bank lender — Unloan, Reduce, Athena, RAMS, etc. Online or specialist mortgage providers
Credit union or mutual — MOVE, Heritage, Teachers Mutual Member-owned institutions
Step 6 of 8
How long ago did you take out this loan or last refinance?
Less than 1 year ago Relatively recent
1 to 3 years ago
3 to 5 years ago Rate may have drifted above market
More than 5 years ago Loyalty tax is very likely applying here
Step 7 of 8
Is your rate fixed or variable?
Variable rate Rate moves with the market; no break costs to refinance
Fixed rate Locked in for a period; break costs may apply if refinancing before expiry
Split loan Part fixed, part variable
Step 8 of 8
What is your estimated loan-to-value ratio (LVR)?
Below 60% You own more than 40% of the property outright
60% to 80% Good equity position — full range of lenders available
80% to 90% LMI may have applied when you took out the loan
Above 90% or unsure
General Advice Warning
This tool provides general information only. It does not take into account your personal circumstances, objectives, or financial situation. Mortgage rates and market conditions change frequently. Always verify current rates directly with lenders or a licensed mortgage broker. Centza does not hold an AFSL and does not provide personal financial advice.

Calculating your rate position against the current market...