Home Loan Health Check Up!

When was the last time you had a good hard look at the terms and conditions of your Home Loan? Just as you keep a check on your health, you also need to check up on your bank or lender to make sure everything is ticking along nicely and they are in sync with your lifestyle and needs.

Your home loan is the heartbeat of your financial being. It’s the reason why you get up and go to work, the reason why your home is your castle and it may even determine when you can retire.

Home loans need to be healthy to work best for you!

Factors that make up a healthy home loan include interest rates, services and features provided by the lender and their ability to adapt to your changing circumstances.

We all know interest rates are historically low and lenders want your business. But how long will these low rates last? Just as your body changes with age, so to does your home loan. Interest rates change -, up, down, steady. You need to adjust your loans according to interest rates and lending conditions that are out there. If your loan is old and tired and has a higher interest rate than your friends, you need to call for help! Loan Market Ellenbrook can assist you with sourcing a competitive interest rate. Whether it’s a Fixed rate or Variable, investment loan or re-financing,
Loan Market Ellenbrook will research the best rate to suit your needs.

By keeping your loan young and vibrant you can watch the years fall off your loan!

Not many things in life are free and banks and lenders may charge a fee for their services, but are you being charged for services you don’t need or don’t use? Not only is the interest rate important to consider but so are the services included in your home loan package. Lenders may be charging you a monthly fee for a facility that you haven’t used in the time you’ve had the loan. Look closely at the services provided and the fees being charged on your statement. Ask yourself if you really need those extra services? What is a monthly account keeping fee? Do you have to pay for a credit card you are not using or no longer use? Loan Market Ellenbrook can take a look at the services and features of your current loan and compare them and the costs associated with them, to other lenders to save you money.

Everyone likes to show off their best features in order to attract attention. Home loans are no different. Features of a home loan can vary greatly and differ from lender to lender. Work out what features you need on your home – have a checklist, what ticks your boxes? Do you need one or more offset accounts? How about a re-draw facility? Maybe the option to choose Fixed or Variable rates at any given time? You need to be happy with the features of your loan. If not, do something about it and re-assess what you really want in a home loan. Loan Market Ellenbrook are experts at finding the right feature and product for their clients.

Everybody changes and our needs and circumstances are constantly evolving. At Loan Market Ellenbrook, we love to match make and find happy, healthy loans for our even more happy clients by having access to over 30 lenders and financial institutions.

Don’t sit back and let the years go by. Check up on your home loan – it might just be what you’ve been missing all these years!

Contact Loan Market Ellenbrook today on 08 6296 6007 or email brett.richardson@loanmarket.com.au

Best of all, our Home Loan Check ups are free!