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$500k+ mortgage and stuck on a fixed rate you know is too high? The break fee is usually the smallest number in the maths. Most people wait the term out because the fee sounds frightening. It is just one line in a three line sum. Break fee, cashback, and the rate difference over what is left of your term. Say the fee is $4,500, the new lender pays a cashback of up to 1.25%, and the lower rate is worth $5,600 across two years. On a $700,000 mortgage that is thousands ahead, fee included. We run these every day. Often refinancing still stacks up. Sometimes it does not, and we will tell you which one you are. Eight quick questions, see your results, then one of us rings to talk it through.