Stop paying more than you need to on your home loan

One thing that I cannot stress enough is this: Australians with a mortgage need to stop paying more than they are on their home loans.

With a choice of over 40 lenders and more than 1,000 products its likely that you are paying more than you should.

Even a small interest rate saving can amount to big savings. For example, the difference between an interest rate of 6.5% and 5.79% on an $800,000 mortgage is about $360.56 a week or $4,326.72 a year.

Australians work very hard, and a lot of their money goes towards home loan repayments, so the question I urge all Australians with a home loan is why continue to pay a lender more interest than you need to?

The first step to saving money on your home loan is to have what we call a health check, which will not cost you anything from us.

Simply go to our website, https://buildprotectfs.com.au/home-loan-health-check/#health-check and enter your home loan details. Then we will give you a call and in less than 10 minutes you will know how much you could be saving.

It really is as simple as that.

The other important thing to keep in mind is that if you have been enjoying a low fixed interest rate for a while now and your lender is moving you onto their revert variable interest rate, its likely that your new rate will be even higher than it is for new customers with the same lender.

So why would you want to pay them a loyalty tax?

As Finance Strategists we are here to get home owners and those looking to buy the best deal for their needs.

Get in touch now and stop paying more than you need to on your home loan.

Have a great week!

The Team at Build & Protect Financial Services