Home Loan Health Check

What is a home loan health check?

A free home loan health check can help you work out if your loan is still right for you and help you make an informed decision to benefit from better loan features or a lower rate. With Rates on the rise for the first time in 10 years, now is a great time to check you're getting a good deal and your bank and loan products suit your needs.

 

Main reasons you would need a home loan health check

• Review your current home loan rate: in the current environment, no homeowner can afford to just assume their loan offers good value. There may be scope for you to save with a more competitive rate, or better structure to accelerate your repayments.
• Refinancing: refinancing could be an opportunity to secure a lower rate, with potential savings on monthly repayments and a reduction in your total interest costs. However, refinancing may incur additional costs, so it's a decision that calls for careful consideration.
• Refinancing to consolidate debt: if you're juggling multiple debts and bills and making multiple repayments to a variety of different lenders, refinancing could give you the opportunity to streamline your debt and potentially reduce the overall interest you’re paying streamlining all of higher interest debts into one lower interest debt, reducing your monthly repayments.
• Switching between fixed and variable or altering the loan term:  Right now, Fixed rates are above most Variable rates in market, but it’s important to understand how fixed and variable rates work to be sure you make the decision best suited to your needs.
• Access to better loan features: it's not always about getting a better rate. You may take advantage of loan features better suited to your needs, especially if your individual circumstances have changed. You may also pay extra fees and charges, which you could avoid paying with another lender or you may not have the right product for your needs

 

It's important to note that having a chat with us doesn't necessarily mean you need to move lenders. We will only recommend changing if it is financially worth your while.

 

Other reasons you would need a home loan health check

A home loan health check is a smart option if you are:

• thinking about topping up your home loan,
• coming to the end of a fixed-rate term,
• aiming to pay off your home sooner,
• looking to reduce or lock in your repayments,
• planning renovations
• considering buying an investment property
• considering helping your own children purchase their first home

 

Why choose us?

• Our team of experts at Mortgage Choice in Blackwood and Adelaide work with over 26 different lenders – some exclusive to mortgage brokers. So we can show you rates you won’t find elsewhere to find you a great deal, and explain any ongoing fees and charges that might apply.
• Our home loan health check service is free.
• We do all the paperwork for you. It's a lot of work to change loans and there is paperwork and some costs involved – but that’s where we can help. 
• We will analyse your situation and see how your home loan compares, all this involves is a quick call to the lenders to see if they can save you some money in interest.

Self-sorting the right home loan can be pretty daunting. That’s why our team of experts at Mortgage Choice in Blackwood and Adelaide are ready to help with any questions or concerns you may have.