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How Much Is Your Loyalty to Your Bank Costing You?

BLOG > How Much Is Your Loyalty to Your Bank Costing You?

How Much Is Your Loyalty to Your Bank Costing You?

We all want to save money. Don’t we?

Those of us with mortgages are often reluctant to change lenders, even though our current home loan may be costing us years of extra repayments and even worse, overpaying the bank thousands or sometimes tens of thousands more interest every year than they should.

What is the benefit of loyalty?

From speaking to a lot of customers and some borrowers feel a sense of loyalty to their bank. This can be due to family ties or simply being with this particular bank for a long time. It’s tough because a a move away could start saving them thousands per year in interest, let alone the years that could be cut off their mortgage term.

If you’re ready to speak to a home loan specialist, you can request a call back from one of our specialists here.

The amount you could save will depend on your own situation but things like outstanding loan amount, your loan to value ratio and if you require lenders mortgage insurance or not will all come into play.

I don’t have the time or the money to refinance

We know that for some, searching for a new loan may seem stressful and a large undertaking. The truth is it doesn’t have to be. We deal directly with the banks and lenders on your behalf and we make the process as seamless as possible and communicate with you along the way.

By using a home loan specialist you’ll end up saving both time and money when you switch loans. Feedback from our customers is that they wished they took action sooner. In fact, there may even be some simple things that you can do to save thousands without having to switch lender at all.

We have a wide range of calculators to help you plan and visualise what you could save, our calculators can be accessed by clicking here.

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Got your finances sorted?

We love saving our clients money and helping them build for the future by helping them get the best deal on their new home loan or existing mortgage refinancing. Talk to us about how we can save money for you, too.

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How Much Is Your Loyalty to Your Bank Costing You?

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    *Rates as at 6 February 2017. Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn’t take into account any product features or any applicable fees. The lending criteria is at the discretion of the individual lender and the basis upon which they assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years. All applications for credit are subject to individual lender credit approval criteria.