Devoting 15 minutes of your time to reviewing your home loan could save you thousands of dollars, or at the very least, offer you peace of mind that your existing home loan is still meeting your financial goals. Our home loan specialists will look closely at:
Let's say your current mortgage is $600,000 with a rate of 4.50% p.a. Your estimated monthly payments are $3,040.11, and you will pay $494,440.27 in interest over the total 30 years loan period. If you drop your home loan to a rate of 3.64% p.a, your monthly payments would be $2,741.38, and you would save of $298.73 per month. Over the course of 30 years, you’d save $107, 542.
One of the key outcomes from the Royal Commission is that existing Bank customers are not being rewarded for their loyalty, with the big four banks being called out by the ACCC for offering home loan discounts to new customers but not existing ones.