In the past, you're pretty much stuck with the home loan you originally took out until you pay it off completely. This prevented you from taking advantage of great deals that come along after that. Which is unfair, since you deserve to get the best deal based on your personal circumstances. The great thing is that lenders have provided far more flexible loans through various options that they offer clients. For example, you can now seek refinancing to switch lenders or move to a more attractive home loan.
You could take advantage of the great deals that lenders offer by regularly reviewing your home loan. On average, Australians change their home loan packages every 4-5 years. Here are some more reasons why reviewing your mortgage regularly makes sense...
It could be that your circumstances have changed too. Let's say for example that you've had two kids since you last took out a loan, spreading your finances thinner. By reviewing your home loan and seeking refinancing, you could switch a more manageable one.
In sum, you deserve to get the best deal in the market, which is why it pays to review your mortgage every so often. And while you're looking for a home loan, let our qualified advisors at Rate Detective be your guide. They will assess your needs and provide you with rate comparisons of Australia's most trusted lenders. After all, you deserve to get the best deal in the market and we'll help you do just that.