Thursday, October 26, 2023


Mackay and Whitsunday Life

It’s Time To Review Your Home Loan

When was the last time you checked in on your home loan? It's usually a tedious and seemingly frivolous task. But what if we told you there's an easy-to-use, free tool that considers your current home loan and your future goals?

Community Bank Sarina Bendigo Bank’s home loan health check starts with a review of your current interest rate, loan structure, home value, repayment options and remaining loan term. The team will also ask you about your goals, aspirations and any short or long term plans you have. From here, the team will explore options that are available to suit your circumstances.

Community Bank Sarina’s Branch Manager Charmaine Matsen believes it’s important for all home owners – no matter how long you’ve had your loan – to get it checked regularly.

“As borrowers’ circumstances change, and interest rates fluctuate, it’s important that you review your home loan to ensure you are making the best financial decisions to suit both you, and the options available at that time.”

Ideally you should be reviewing your home loan annually, but there’s a few indications that it’s time to take another look:

● Your interest rate is higher than advertised rates for new customers (or you don’t know your rate at all!)

● You don’t have access to features like an offset account

● Your circumstances have changed since you took out your home loan, e.g. income changes or life goals

● Your fixed rate has ended (or is ending soon)

● You were previously on a special offer ‘honeymoon’ rate which has now reverted to a higher rate

● Your home value has increased

Charmaine urges borrowers to take action and seize the opportunities available.

“Contact us or visit us at Community Bank Sarina. We’re here to guide you on your financial journey so you can achieve those financial goals – and the home loan health check is a great place to start.”

If you want to achieve your financial goals, a free home loan health check with Community Bank Sarina could unlock opportunities to get you there sooner. Contact Charmaine and the team at Community Bank Sarina on 07 4943 2634.

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