If you already have a home loan and you find yourself reading this, then the one you have probably isn’t up to scratch. You should think about arranging a, no obligation, pressure free Home Loan Health Check – A professional Mates Rates mortgage broker does not work on commission, so there is no hard sell to switch lenders or loan

Signs that your mortgage is harming your financial health include:

  1. Your effective interest rate (interest and fees) is higher than it needs to be
  2. You have other debts besides your mortgage
  3. You don’t feel like you are getting anywhere
  4. You pay too many fees
  5. You worry about repayments

If you are suffering any of these symptoms, you will probably benefit from a mortgage health check to make sure the mortgage you have in place is the right one for you and that you aren’t paying too much.

When you first talk with your broker you’ll be asked a number of important questions about your financial position. The more accurate this information is, the better your broker will be able to help you. All information is confidential. The first call usually takes less than half an hour and your broker then leaves you to get on with life, whist the get to work tracking down the best loans from our panel.

Your broker looks at things like repayments, interest rates as well as, features like offset and redraw facilities and how much you can borrow from each lender.

Simple help in plain English

Your broker then prepares a written report which outlines the best 3 options Mates Rates can offer, including important information such as an explanation of features offered, different lender fees and mortgage rebates we can offer for each solution. The report includes a personalised Comparison Rate as well, to help you better understand the different overall cost of each loan from each lender.

After that your broker will discuss the options and, when you have chosen your loan, will complete all the necessary forms for approval by the lender and you’re off and running.

Refinancing Tip:

If you can’t recover the cost of refinancing within 1 to 2 years, you probably shouldn’t switch lenders. A Mates Rates mortgage broker can help work out the cost of refinance and simplify your decision.

 

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