Review your Home Loan
Review your lending & it's structure
It’s really important to regularly review your lending and with a few changes in our system, we’re looking to do this better and provide more support for you. With rates having increased significantly in the past 3 years and now starting to ease back, we’re also supporting our clients to ensure they’re in the best possible position heading forward.
Some things to consider;
Are you looking to borrow additional funds in the near future?
Have your financial goals changed?
Are you considering a new purchase or selling and buying?
Are you thinking of selling or changing anything big financially in the next few years?
Has anything changed with your family situation or income?
Do you have an interest-only term expiring soon?
Some of our clients are keen to look at other bank options for their lending and we’re happy to look at that for you. For the majority of these situations, we’ve been able to secure a new approval and a slightly better rate, and given we’re still a few months prior to expiry there is plenty of time to get this sorted for you.
What this involves is a new application (bank statements, payslips, etc), so if you’d like to look at some other options, we can get that process underway.
You can also book a call with your advisor here and we can have a 15-minute chat about where you’re at.
Refixing your lending
Rates are now firmly on the decrease, although there are still some global factors that may affect the speed and level of rate reductions.
The Reserve Bank has now reduced rates at three consecutive meetings and the current OCR is 3.75%
While we are still expecting modest drops towards the end of 2025, these are now likely to slow and rates beyond 12 months are becoming more attractive.
Our Latest Interest Rate Update - April 2025
In general terms, this means 1-2 year rates are becoming more favored as rates are still decreasing, albeit more slowly, but it's really important to get some advice fit for your situation and budget when making this decision, as the certainty of payment may be more important for you.
For a more detailed chat on the current economy and our opinion on how this affects mortgage rates, have a look at our video above.
Most banks will send you an email 45-60 days before your rate or interest-only period is due to expire, and the majority of the time, these are competitive and in line with what we’d expect from other lenders.
If there has been no change to your situation and you’re keen to get a new rate locked in, feel free to screenshot us these rates and we can make sure they’re competitive.
Generally, you’ll get a notification coming up on your banking app which will show you the different options for fixed terms and what your new repayments will be once you’ve fixed.
We’re always here to help if you’d like advice on which terms you should be considering for your situation so please do reach out.