On a $700,000 loan, each 0.25% rate reduction saves about $1,750/year. Most clients we refinance save 0.4%-0.7% — that's $2,800-$4,900/year for the life of the loan. The break-even point (after switching costs) is usually 3-9 months.

Switching costs typically: $200-$400 government discharge fee from the old lender, $300-$500 settlement fee at the new lender, sometimes $300-$800 valuation if not waived. Many lenders offer cash-back ($2,000-$4,000) which can fully cover or exceed the switching costs.

Each application creates a credit enquiry which can dip your score 5-15 points temporarily. We pre-qualify you against multiple lenders without applying first, then submit only to the chosen one — so the impact is one enquiry, not several. Score recovers within 6-12 months of clean conduct.

Standard refinance: 4-6 weeks from application to settlement. Fast-track refinances (some lenders offer 2-3 week settlements) are available if you have all documents ready. We submit applications digitally where possible to keep things moving.

Depends on your view of rates and your need for flexibility. Fixed gives certainty but limits offset use and extra repayments. A common structure is split: 60%-70% variable (with offset) and 30%-40% fixed for 2-3 years. We model both scenarios before you commit.