When our car or home insurance expires each year, we naturally shop around to ensure value for money. However, because home loans span 25 to 30 years, borrowers aren't automatically prompted to review their rates.
On average, Australian borrowers only refinance every 8 to 10 years. We strongly recommend conducting a home loan review at least every 2 to 3 years to ensure your lender remains competitive.
Getting a home loan in Australia involves six key stages: checking your borrowing power, comparing loan types, gathering your documents, submitting a formal application through a lender or broker, receiving approval, and settling on your property. Most buyers complete this process in four to twelve weeks, depending on their financial situation and how prepared they are before they start.
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A maintained resource on the Australian interest rate outlook. Understand what drives RBA cash rate decisions, how rate movements affect your home loan, and what borrowers can do to prepare.
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Buying your first place, refinancing to a sharper rate, or adding an investment property is a big move. If you are weighing up why to use a mortgage broker in Newcastle for your next home loan, the answer comes down to three things: wider choice, clearer guidance, and a smoother path to approval.
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