Many people in Australia use negative gearing to build long-term wealth. It is, however, not…
Until the impact of COVID-19, in our experience, too few borrowers regularly took the time to undertake a full Home Loan Review.
With more time on their hands due to the lockdowns and the resulting cashflow pressures on households, this appears to have changed over the past 12 months.
Because of the lockdowns and a “red hot” housing market, home loan refinancing and approvals have reached an all-time high.
Home Loan Reviews - What has changed?
Why you need to complete a Home Loan Review
Is Your Finance Market Competitive?
Aside from life events that may necessitate a Home Loan Review, you also need to ensure your finance remains market competitive.
There are now many players in the home finance sector and competition is fierce, with many Lenders offering highly attractive rates and cash-back payments.
Undertaking a review does not necessarily imply switching Lenders, but rather ensuring that the package you have is competitive in comparison to the market.
More than the Headline Interest Rate
As stated previously, conducting a Home Loan review doesn’t necessarily imply changing Lenders.
Rather it is a process that ensures your current financial structure is appropriate to your current circumstances and takes into account of your longer-term.
Cost whilst very important, it is just one aspect of a review.
Please do not hesitate to contact me If you would like to learn more.