Congratulations, you have your keys!

So you got a great rate for your loan, hopefully have used your local broker , everyone is happy, you settle in nicely to your house and get to know your friendly neighbours, and time moves on. 

So what happens then after you have had your loan for 1 year, 2 years or more?

Bank - if you went direct with the bank, your rates will move up and down, in line with the Reserve Bank of Australia decisions. The bank will not look at what specials or promotions they have available for new customers, instead, they will gladly keep your rate higher because most don't ask for a better deal and are oblivious to the fact that they could get a better deal

Your Local Mortgage Broker - Every 6 to 12 months, will be calling the bank to negotiate you a better rate. We know which bank you are with, and when that bank comes out with an amazing rate to attract new clients, we call them and say, Hey! our client should have that too! Most of the time they give it to us, if they don't, well, we continue to see what is best in the market and perhaps it could be time to Refinance your home loan and consider switching banks - after all, if they do not value your business enough to give you their best possible rate, then why should you be loyal - loyalty needs to go both ways.

Written by

Paul Halford

Home Loan Professionals – Moreton Bay to Sunshine Coast

  

Home Loan professionals has been established for 25 years with our core focus on South East Queensland. Paul Halford main areas are Moreton Bay to Sunshine coast, ranging from  North Lakes, Strathpine, Caboolture, Beerwah, Caloundra to Buderim.