When was your last home loan health check

Post settlement - 2 years v2
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How healthy is your home loan?

Circumstances can change, leaving your home loan less suitable than it was originally. A home loan health check can reveal if you’re paying too much.

What's involved?

Your finance broker can do a full home loan health check for you either in person or over the phone. They will check if your loan is still competitive and still suited to your individual needs.

Having an expert do this for you can also take the stress out of the process for you. It is advisable to get this check done at least once a year, or if your circumstances change.

getting a pre-approval

Questions to ask

Be aware of what you want checked. Think about the following when you speak to your broker:

  1. Am I paying an unreasonably high interest rate?
  2. Am I paying high fees?
  3. Am I happy with the service I receive?
  4. Does my loan give me the features I need?
  5. Am I paying for features I don’t use?
  6. Have my financial circumstances changed?

Benefits

A home-loan health check will generally cost you nothing and could save you thousands. Your home loan features could be improved or you could find yourself with a lower interest rate. A better payment structure could also be introduced, making your repayments more manageable.

Checking the state of your current loan could uncover the possibility of taking out additional finance, which can consolidate any other debt you may have or help you purchase an investment property.

If you want to refinance just to lower lending costs, ask your finance broker to negotiate with the bank for a lower rate.

If you do decide to go down the refinancing path, working with a finance broker rather than going straight to a bank has advantages because the broker has access to thousands of loan products from scores of different lenders.

Finance brokers can compare lots of different lenders and, if there is a better opportunity, they’re able to access it.  Finance brokers are always working to give you great advice that’s in your best interests.

Contact your Maverick Finance Broker for a one on one home loan health check.

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We are a team of qualified professionals who have been in the mortgage broking industry for the last 10 years. We are also property investors who have accrued the knowledge and experience to help you achieve your property goals.

Learn the right strategy and find the resources to empower you to buy your first home, to refinance or to purchase your first investment property. Our team of brokers can guide you through the home buying process and answer your questions,
including:
➔ Where and what you can buy?
➔ How much deposit will you need?
➔ How much can you borrow?
➔ What are all the other costs involved?
➔ How can you repay my mortgage quickly?
Our role as your mortgage broker is to guide you through the process to ensure that all your needs and options are considered.