Have you had your annual home loan health check?
You service your car regularly; how often do you service your home loan? You could save thousands of dollars in repayments and repay your loan sooner if you regularly check the state of your loan.
A bank will never approach a customer and suggest they consider breaking and re-fixing their loan at a cheaper rate, or that another lender has a better loan product for their needs. People are used to accepting what their lender says and as long as they can meet loan repayments every month, never think about their home loan. But this can be costing them thousands in extra interest every year that they just don’t need to be paying. A quick ‘home loan health check’ should be done every year. Through a mortgage broker there is no charge for this service and the benefits could be massive.
Home loans are generally the biggest expense people have each month. Your current lender may have a better option available for you than what you are currently structured on. Other lenders could be eager for your business and offer more suitable products, cheaper interest rates and cash to help pay your refinancing costs. Refinancing can seem like a hassle, but your broker can help to make the process simple and painless and it could save you thousands of hard earned dollars for very little effort.
Generally I need four pieces of information to perform a quick health check:
- current loan amount
- current property value
- current interest rate and expiry date if fixed
- current lender
It's that easy -why not email me and have your loan checked today!