3 reasons to review your current home loan.

3 reasons to review your current home loan.

Black Friday sales have finished up and before we know it the Boxing Day sales will start.

Shoppers are on the lookout for bargains everywhere.  But what if there were savings to be made for you every day?  What if your home loan could save you money?

  1. Potential savings could be yours.

Put simply, your mortgage may be one of your larger expenses so should be the first thing you look at for potential savings.

Some of us are quick to shop around for our phone or utility providers, but our home loan is often not considered and reviewed. 

Is it fear that drives this decision?  Being afraid of the uncertainty that change implies?  Or is it losing a sense of security and familiarity with our existing lender?  Perhaps it’s even a lack of understanding and education into the lending products you have or could move to.

A phone call to your broker is all it takes to see if there are any potential savings to be made for you.

  1. Your financial position can change, which means your current home loan product may not meet your current financial circumstances.

Planning for the unexpected is something that many of us don’t do.  Yet as we all know, life happens. 

We may be facing changes to our employment, dealing with health matters or perhaps you are planning for the arrival of a baby.  Either way, our circumstances can change and it’s worth considering if we are ready financially.

  1. Lenders interest rates, fees and charges are always changing. 

In a changing financial market, today’s lowest rate loan could be tomorrow’s highest.  When you question and review your current product with your broker, you will keep one step ahead of the game and stay informed of market changes.

Tamara Cugnetto is the marketing and administrative manager for F4 Financial Services.  The original article was first published on www.F4financial.com.au on 17th December 2019.

Disclaimer: This page/news; letter provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

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