Home Loan Review
With over 15 years of experience bringing you a wide range of great options, let us do the work for you.
Forget the biased big bank home loan reviews from Westpac, Commonwealth Bank, NAB, ANZ, Suncorp, etc. Get our experience mortgage broker in Melbourne to review your home loan, interest rates and conditions to find the best loan for you.
Reviewing your home loan can lead to refinancing for a better deal. Learn why more people are refinancing their home loan than ever before.
If you have had a mortgage for a while and have not reviewed it, how sure are you that you are still getting valuable rates?
Reviewing your mortgage regularly can help ensure that your mortgage payments are on target.
If you have recently purchased your first home or are remortgaging, these regular reviews will keep you ahead of the game, even more so than your established mortgage holders.
No matter which way you look at it, a home loan review is a process of taking stock of your mortgage. It is when you take a detailed look at the mortgage you have and compare it to other mortgages on the market. This involves a comparison of the mortgages a lender is offering and seeing if their offer is still the right one for you.
If it is, the review is complete; if not, you know where you stand.
There are many benefits of reviewing your mortgage. Read on to learn more about them.
Keeping Track of Your Mortgage
When you review your mortgage, you ensure you get the most suitable deal, and your mortgage payments are on target. By looking at your mortgage often, you can make sure that you are onto a winner.
Making Regular Payments
When you set up a regular payment for your mortgage, it can be easy to forget about it unless you review your mortgage properly to avoid late payments.
If you are not set up with a regular payment, this is the perfect time to start. Remember, it is one of the easiest ways to stay on top of your mortgage. If you are not benefitting from a regular payment or have forgotten to set one up, there is no time like the present!
Signing Up to a New Mortgage
When planning to take out a new mortgage, people often sign up for the first one you find. But with all the mortgages to choose from, it’s best to compare them first to see which one fits your situation.
Even if this is a mortgage you will take out from the same lender, you will still be comparing it to other available mortgages, which still counts as a mortgage review.
Spotting Early Changes in Interest Rates
If you are still in the first few years of your mortgage, you probably still benefit from the low-interest rates available. But, how long will they last?
You will want to do some mortgage reviews even if you are not yet in the incentive period, as you can take advantage of the low-interest rates available now. Remember that if you wait for longer, you could miss out.
Understanding Your Mortgage
When you compare two mortgages, you are automatically given a better idea of what you are getting. You can see how the interest rates and monthly repayments compare and how the terms vary.
The fact is that you cannot understand what you have unless you compare it to something else.
You may not feel the need to review your mortgage that often, but we are here to let you know that there is a huge benefit to doing so. Whether you are thinking of remortgaging or looking to save money, there is a huge benefit to regular mortgage reviews.
It is not hard to do, either. Take a look at what is on the market, compare it to your current mortgage deal, and see how you can save more money and make use of your mortgage.
Are you looking for a trusted home loan review in Melbourne? We offer great-value loans from a wide range of lenders, and all reviews are free of charge. Get in touch today.
