Much like a trip to the doctors or servicing your car, a home loan health check is crucial to ensure that your mortgage is still meeting your financial needs. Complete the form below and one of the Madd team will reach out to book in your FREE home loan health check.
"*" indicates required fields
More often than not, home buyers make the mistake of assuming that once their pre-approval and finance for their property is sorted, then the whole process is done and dusted. You might be too busy making your house into a home, caught up with the demands of everyday life, or have simply made the mistake of assuming that everything is ticking along nicely with your mortgage.
Either way, we get it. However, ignoring or forgetting about the terms and conditions, fees and interest rates linked to your home loan is only doing yourself a disservice in the long run. You wouldn’t ignore an annual health check up for your body, so it’s important to assess and treat the state of your home loan’s fitness with the same ideology.
In a nutshell, a home loan health check is a free discussion or “check up” aimed at fine tuning all the complexities involved with your current mortgage. Much like an annual physical health check that you would normally head to the doctors for, the aim of the process is to ensure that there’s no minor ailments developing, or nothing present that shouldn’t be there. Usually conducted annually with your lending institute or mortgage broker, a home loan health check can ultimately end up saving borrowers thousands of dollars in the long term.
Depending on your individual set of circumstances, your home loan may be improved by refinancing, or your representative may help you to nab a lower interest rate. A more manageable and efficient payment structure could also be introduced, along with many other suggested tweaks if deemed appropriate. Scheduling a home loan health check is not always about securing the lowest possible interest rate though, as your financial consultant might even recommend an entirely different home loan product if it’s better suited to your needs.
According to Madd Loans founder and all round mortgage wizard George Samios, making the time to check in with your lending provider or mortgage broker should be given priority as a means to ensure you’re on the right financial track for the future.
“We make a point of checking in with each and every one of our clients every twelve months to make sure that their mortgage is tailored to their individual position. Things like having a baby or changing jobs might have more of an effect on their mortgage than they think, and we make the effort to ensure that they have access to the most advantageous interest rates, enquire on how they’re using their offset account, monitor when fixed time frames are coming to a close, and even just check in with them to see if they’re planning things like renovating or even selling up. If you have the right finance partner, a home loan health check should be a positive and empowering experience, and not something to shy away from.”
Many borrowers tend to shy away from committing to an annual home loan check as there’s a common misconception that it’s the equivalent of opening a financial Pandora’s Box. The terminology might feel too technical or overwhelming, or some borrowers simply assume that they’re locked into particular sets of terms and conditions that are unable to be amended.
However, many homeowners are not completely aware of how their mortgage is set up and how to use the features and facilities available to them, which can in turn be one of the big factors standing in between them and potential wealth tied into their property asset. It’s for this very reason that it’s never been more important to ensure you have a financial guru on your team to ensure that you’re making educated decisions with the right information at your disposal – but where do you find such a person?
Navigating the complex world of home loans has long been regarded as stressful, frustrating and time consuming – but the good news is that it doesn’t have to be.
Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.
If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.