When was the last time you gave your home loan a ‘health check’? If your answer is ‘over 12 months ago’ – it’s time!
Circumstances can change, leaving your home loan less suitable than it might have been at settlement. A home loan health check can reveal if you’re paying too much due to things like changes in interest rates or new products that may now be available.
What’s involved?
At bspoke finance, we’ll complete a full home loan health check for you, either in person or over the phone. We’ll check if your loan rate is competitive and still suited to your individual needs. We know the right questions to ask so you don’t have to worry.
Some of the questions we’ll ask are:
- Are you paying an unreasonably high interest rate?
- Are you paying high fees?
- Are you happy with the service you currently receive?
- Does your existing loan provide you the features you need?
- Are you paying for features you don’t use?
- Have your financial circumstances changed?
What’s the benefit?
A home loan health check will cost you nothing but 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.
We recommend getting a home loan health check at least once a year, or if, and when your circumstances change.
