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Ensure you're getting the best mortgage deal with annual home loan reviews. Learn how RateTracker can help you save thousands by automatically monitoring and optimizing your interest rates.
When it comes to managing your finances, one of the most significant investments you'll likely make in your lifetime is purchasing a home. The process of obtaining a home loan can be complex, and once you've settled on a lender and a mortgage rate, it can be easy to simply set it and forget it. However, as the market fluctuates and interest rates change, it's essential to regularly review your home loan to ensure you're getting the best deal possible.
One of the primary reasons to have your home loan reviewed every 12 months is to ensure that your interest rate remains competitive. Interest rates can vary greatly between lenders, and even within the same lender over time. By regularly reviewing your home loan, you can stay on top of market trends and potentially save thousands of dollars over the life of your mortgage by refinancing at a lower rate.
Additionally, as your financial situation changes over time, you may be eligible for better loan options. For example, if you've improved your credit score, increased your income, or paid down a significant portion of your loan, you may qualify for a lower interest rate. By reviewing your home loan annually, you can take advantage of these changes and secure a better deal.
Another reason to regularly review your home loan is to ensure that you're still happy with your current lender's terms and services. As your financial needs evolve, you may find that another lender offers better customer service, more flexible repayment options, or lower fees. By periodically reviewing your home loan, you can explore other options and make sure you're getting the best overall package for your needs.
At My Mortgage Freedom, we have taken the stress off rate reviews, and we conduct them annually on behalf of all our clients! We have also investing years into developing RateTracker - A completely free service, that instantly assesses your home loan and lets you know if you're on the best rate.
RateTracker is a free, secure service that monitors your interest rate and automatically detects if you're paying more than you should. RateTracker reviews your loan automatically every day, and notifies you if you're paying too much, or if you will significantly save by switching to another lender! We capture data from the whole lending market – that’s hundreds of lenders Australia-wide, taking the hard work of sifting through loan products off your hands.
Reviewing your home loan annually is an essential move for any savvy homeowner, looking to save money, improve your loan terms and gain peace of mind. Comparing your mortgage through RateTracker offers you that extra layer of protection - Knowing that you can sit back and relax as you'll never needlessly overpay on your loan again.
For a full review of your current home loan, Please reach out to the team at My Mortgage Freedom (03) 8256 1914.
To compare your home loan to the best market offers, Connect to RateTracker.com.au
