Whether you are an existing client or not, Mortgage Broker Group is happy to provide a free, no-obligation health check on your home loan.
Too many people have loans that aren’t tailored to their specific needs. That’s what we are here to fix.
Why get a home loan health check?
- You’re concerned that your interest and fees are excessive
- Your financial circumstances have altered
- You plan to renovate your house using your existing equity
- You want to sell, whether it’s to move, downsize, or upsize
- You’re considering purchasing an investment home
- The term of your fixed-rate loan is about to expire.
What is a home loan health check?
Mortgage Broker Group assists borrowers and would-be borrowers with home loans. As well as finding the best loan to suit your individual circumstances and real estate goals, we also assess existing loans to ensure they’re the best fit.
One of our knowledgeable brokers will:
- evaluate your existing financial status
- examine your existing mortgage
- recognise your housing objectives
- evaluate your loan against alternative loans available on the market
- recommend alternative loans or validate your existing loan.
Important factors to consider
Type of loan
Variable versus fixed: With a fixed-rate mortgage, you always know what you’ll pay each month because the interest rate you pay is locked in for a predetermined amount of time. With a variable-rate mortgage, interest rates are subject to fluctuation, particularly in response to changes in the Reserve Bank’s cash rate. As a result, your repayments change in tandem with the market.
While variable rates let you pay more than the required amount and save more over time, fixed rates offer assurance. Which do you prefer? We can assist you in determining the appropriate kind of financing.
Term of loan
New loans often have a 25- or 30-year term. In addition to additional time to make repayments, a longer term also equals higher interest payments. We’ll determine the ‘sweet spot’ that works best for you by examining how various loan periods affect your repayments.
Rate of interest
The range of accessible interest rates is startling. The best rate isn’t necessarily the lowest one, either. We’ll tell you why and assist you in locating the best loan rate for your situation.
Options for repayment
Most people pay back their loans on a monthly basis. Over the course of the loan, you can save money if you change it to a payment every two weeks. Let’s check to see if that works for you. We can also see what happens if you add infrequent income such as tax refunds directly to your loan.
Features of loans
Redraw, offset, credit card linking, and more. Utilising bundled loan features can reduce fees and interest while also simplifying life. Our brokers can help you select a loan that suits your needs and explain the benefits.
Charges and fees
It’s always worthwhile to monitor additional expenses. In most cases, paying a little bit more is worthwhile. But not always. We’ll assess your options and describe how your total repayments will affect things.
Equity in the home
You may have accrued equity if you’ve owned your home for several years; a rise in the value of your home may allow you to obtain a more advantageous loan with lower interest rates.
Speak with us
Finding the best deal can be challenging in Australia, where there are hundreds of different loans offered by dozens of lenders.
Experts in mortgage brokerage, Mortgage Broker Group can perform the research and locate the ideal loan for your situation. The best part is that our services are completely free for you.
Let us try to negotiate a better deal on your current home loan.