Refinancing

Expert Advice for Refinancing Loan

Struggling with a high-interest home loan that no longer feels right for you? If you secured a loan years ago and find yourself paying more interest than the current market rates, it’s time to explore refinancing with Lending Array. Our expert team will carefully review your existing mortgage and assess whether refinancing can truly save you money. We compare a wide range of home loan products featuring benefits like offset accounts, no-fee additional repayments, and highly competitive rates tailored to your needs.

Personalised Guidance For Your Refinancing Needs

At Lending Array, we know that refinancing your home loan can feel like navigating uncharted waters, especially when you’re uncertain about the best options for you. That’s why we’re here to make the process seamless and stress-free.

Here’s How We Can Help:

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Description

This interest only mortgage calculator helps you work out what your regular repayments during and after interest only period will be based on your loan amount. Repayments frequency can be changed to monthly, fortnightly or weekly. Calculate both Principal and Interest repayments for a loan term.

Assumptions
  • It does not take into account any possible up-front fees. Only Ongoing fees are used not Upfront or End of loan fees (i.e. discharge costs)
  • Interest rate does not change over the loan term.
  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
  • It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.