When was your last home loan health check?

A lot has changed in the past year, especially when it comes to the economy. Interest rates and the cost of living are up, with more rate hikes forecast for 2023 as inflation remains stubbornly high.

How long has it been since you looked at the terms of your mortgage? If your circumstances have changed and you suspect your home loan is in a bad shape, don’t worry, we’re here to help. Or if you haven’t had a loan review in the last two years, a home loan health check may be just what the doctor ordered.

What’s involved?

We can do a complete home loan health check for you either in person or over the phone. We’ll find out if your loan is still competitive and if it still meets your current needs.

Having an expert do this for you can take the stress out of the process. We’ll do the research to determine if your loan is suited to your financial circumstances and goals. We can assist with negotiating new terms with your current lender and walk you through refinancing options with other lenders.

Questions to ask

To get the most out of your home loan check, it’s important to know what you want checked.

Consider your current financial position, what you want in a home loan and your financial goals.

Think about the following before you speak to us:

• Have my financial circumstances changed since I took out the loan?
• Am I paying an unreasonably high interest rate or high fees?
• Am I happy with the service my lender provides?
• Does my loan have the features I need?
• Does my loan have features I don’t use that are costing me?

Benefits

We may be able to secure you a payment structure that makes your repayments more manageable and frees up cash flow. Checking the state of your current loan could uncover the opportunity to access equity or take out additional finance, which could be used to consolidate other debt you may have, fund renovations or help you purchase an investment property.

Even if we find your current loan is still suitable and competitive, this outcome can give you peace of mind that you are not overpaying in interest or other fees.

Get in touch to find out more about getting a full health check for your home loan.