Should I renew or switch lenders?
Weigh up your options when your mortgage term ends.
Renewal countdown
Compare what you have now with your lender's renewal offer and an offer from another lender.
From your statement. If blank, it's worked out from your balance and rate.
| What is compared | Now | Renewal offer | Other lender |
|---|
Comparing offers? The mortgage renewal workbook has a grid to compare your lender's offer with two others, including switching costs, and a worksheet to decide.
An estimate only. It assumes rates stay the same for the whole term and leaves out prepayments. Confirm the details with the lenders before you decide. See Renewing your mortgage.
Compare fixed and variable rates for your next term.
An estimate only. Confirm the details with your lender before you decide.