Is Your Home Loan Still Right For You?
MAKE SURE YOU AREN’T PAYING MORE INTEREST THAN YOU SHOULD.
GET A HOME LOAN HEALTH CHECK TODAY!
If you have been with the same bank for a while, chances are you are paying too much for your home loan. Setting and forgetting your mortgage can cost you thousands. For many Australians the biggest recurrent expense is paying off a home loan, which can often take up to 30 years. But you shouldn’t just ‘set and forget’ the loan. Running a few simple checks will help you decide whether your home loan is still right for you, or whether you should be looking for a better deal. As your circumstances change you should revisit your home loan features and benefits.
Let us make sure you’ve got the right home loan and that you’re making the most of it – or we can recommend a better one for you with our home loan health check.
When was the last time you compared your home loan?
Check if it is still working for you!
WHAT TO CONSIDER WHEN REVIEWING YOUR HOME LOAN?
Features matter!
Our home loan specialists will help you find the right loan with features that best suit your current and future needs.
Modern mortgages provide a plethora of features to help you manage and pay off your mortgage faster than the conventional 30 years.
Most Australians don’t know how these features function or which ones they need, let us help you work out which ones benefit your scenario the most.
Understanding your home loan interest rate
When borrowing hundreds of thousands of dollars, a home loan checkup is financially smart. Not all house loans are made equal, and it’s not as simple as comparing interest rates.
What’s your current mortgage rate? There are two rates to consider when re-evaluating the interest payable on your loan: interest rates and comparison rates.
Simply put, the annual interest rate doesn’t include costs. The comparative rate includes the yearly interest rate and most upfront and recurring expenses, so you know what to expect.
Always ask your current provider
If you find a lower interest rate, don’t rush to change.
First, compare the two loan options and estimate mortgage repayments. Inform your existing lender you’re considering switching.
A good credit history and more than 20% home equity may help you negotiate. Make sure you understand which product is the right home loan for you, as the costs of refinancing may outweigh the benefits from switching.
Contact Us to Get a Home Loan health check and make sure yours is working for you!
Speak to a BrokerCo representative
info@brokerco.com.au
Maroochydore Homemaker Centre, Level 1/11/55 Maroochy Blvd, Maroochydore QLD 4558, Australia
+61 7 5370 8333