How long have you been making mortgage payments on your Melbourne home? If it’s been a while, you could be missing out on serious savings.
As property values shift across Melbourne, your home equity has likely grown—creating new opportunities to refinance and save. With interest rates and loan options constantly changing, a quick home loan health check could help you secure a better rate, reduce your repayments, or unlock more flexible terms. Don’t leave money on the table—let’s see if your current loan is still the best fit for you.
What is a Home Loan Health Check-up?
A home loan health check-up is like the regular checkups you get at the doctor’s office for your personal health. While you might wish to save a few extra bucks by trying to conduct it independently, hiring a professional can help you save more.
As they always have an ear to the ground for movement in the mortgage market, they evaluate different factors like your interest rate for your repayment type, the mortgage term pending, the home equity you have accrued, and so on. Covering all the bases, they can give you a precise and accurate report on whether your current home loan suits your needs or not.
Benefits of a Home Loan Health Check
Do you remember the last time you conducted a home loan health check? Don’t stress if you haven’t conducted one in years; you definitely aren’t the only one making that mistake. Here’s a list of benefits you are missing out on when you aren’t conducting annual or quarterly home loan health checkups.
- Pay off your home loan faster
- Opportunities to upgrade your home
- Gain access to better home loan features
- Secure better interest rates
- Chances to lower your monthly repayment
- Tap into your property’s value
Key Questions to Ask When Reviewing Your Home Loan
Professionals can wrap up home loan health checks within 15–20 minutes. Yet, if you still wish to do it independently, here’s a list of questions you could ask yourself to review your home loan.
- Do you want to pay off your home loan faster?
- Are you struggling to make ends meet with your current commitments?
- Are you planning any major purchases in the near future?
- Do you wish to consolidate any other debts?
- Have you been making mortgage payments for years?
- Are you likely to see a major change in your financial situation within 12 months?
If your answer to most of these questions was yes, it’s about time you consulted a mortgage broker in your area for a loan review.
Home Loan Review in Melbourne
Want to look over your current home loan and see if there are better options on the market for lenders?
Contact us on 1300 161 516 or book a strategy call.
