When was the last time you reviewed your home loan?
There are many borrowers who are still sitting on home loan interest rates of between 4 and 5 percent. At the same time, many banks now offer home loan interest rates of below 3.5% and some below 3%. A simple review of your loan could change your life.
Competition is your friend!
With much competition amongst banks driven by the many smaller lenders trying to gain market share, along with the continued growth of the mortgage broking industry who are working to try and always gain a better deal for their clients, interest rate offerings continue to improve for new loans.
But this is rarely passed onto existing customers. At Real Choice Finance, we always encourage our clients to review their home loan every 2 to 3 years. We are always willing to renegotiate your home loan with your lender and take the steps to refinance if your lender is not willing to offer a fair deal.
If you would like to see what savings could apply to you, why not see for yourself by using our Mortgage Switching Calculator.
Other things to consider
Is your current loan product right for you?
Life is ever-changing and so is the market. Therefore sometimes a fixed rate could be what you need and other times it could be holding you back from getting ahead. Maybe more flexibility in your loan could assist you with your budgeting, helping you to get ahead and pay your loan off earlier.
‘Now who wouldn’t like to be out of debt before the loan term is up and save possible tens of $1,000s in interest’?
Would you like to find out how home loan review can change your life? Speak to one of our specialist brokers today. Contact us here.