Refinancing
Five signs it's time for a home loan health check
If your loan is more than two years old, it's worth a look. These are the signals we watch for, and none of them mean you have to refinance. They just mean it's worth checking.
Refinancing
1. You set it and forgot it
Most people put real effort into choosing their loan, then never look at it again. Lenders count on that. New customers are often offered sharper deals than loyal existing ones, a pattern sometimes called the loyalty tax. If it's been more than two years since anyone reviewed your loan, you're overdue, even if everything still feels fine.
2. Your fixed term is ending soon
When a fixed period ends, most loans roll onto the lender's standard variable arrangement, which may not be the most competitive option available to you. The few months before your fixed term expires is the ideal window to review, because you can line up the next move before the rollover happens rather than after.
3. Your life has changed since you took out the loan
A new job, a pay rise, a growing family, a business you've started, a renovation on the horizon. Your loan was matched to the person you were when you applied. If your income, expenses or plans look different now, the loan that suited you then may not be the one that suits you today.
4. Your property has grown in value
As your home's value rises and your balance comes down, your equity position improves, and that can change what lenders are willing to offer you. Stronger equity can open up better pricing tiers, remove the need for lenders mortgage insurance on a new loan, or unlock funds for a renovation or investment. You won't know until someone runs the numbers.
5. You're paying for features you don't use, or missing ones you would
Some borrowers pay ongoing fees for offset accounts and package extras they never touch. Others would genuinely benefit from an offset or redraw and don't have one. A health check looks at how you actually bank, not just the headline numbers, and asks whether the loan's structure still matches your life.
What a health check involves
Ours is free and usually takes one short conversation. We look at your current loan, your situation and your plans, then search across our panel of lenders for options available to you. Sometimes the answer is "your loan still stacks up, stay put", and we'll tell you that plainly. Sometimes a better fit is available, either with your current lender or a new one, and we'll show you the trade-offs so you can decide.
Start with our mortgage health check, or book a free chat if you'd rather just talk it through.
When did you last check yours?
Let's talk it through
A quick chat costs nothing, and you'll leave knowing where you stand.