Free Home Loan Health Check
Mortgage Broker Melbourne is pleased to offer anyone – whether you’re an existing client or not – a free, no obligation health check on your home loan mortgage.
Too many people have loans that don’t suit their individual needs. We’re here to fix that.
Reasons to get a home loan health check
- You worry you’re paying too much in interest or fees
- Your financial situation has changed, for better or worse
- You want to take advantage of the equity you have in your home
- You’re planning a renovation
- You’re looking to sell, whether to move location, downscale or upscale
- You’re thinking about buying an investment property
- Your fixed-rate loan is coming to an end.
What is a mortgage health check?
Mortgage Broker Melbourne has been helping people with their home loans for more than 20 years. Our service is always free for you.
One of our expert brokers will:
• assess your current financial situation
• review your current home loan
• compare your loan to other loans across the market
• understand your housing goals
• suggest other loans, or give your current loan the tick of approval.
Key health check considerations
Loan type
Fixed versus variable: A fixed-rate mortgage locks in the interest rate you pay for a specified period, so you always know what you’ll pay from month to month. A variable-rate mortgage means the interest rate can change, especially if the Reserve Bank raises or lowers their cash rate. Your repayments therefore fluctuate with the market.
Fixed rates provide certainty, but variable rates allow you to pay more than the required amount, saving you more over time. Which is best for you? We can help you work out you best loan type.
Loan Term
Most new loans are for 25 or 30 years. A longer term means more time, but also more interest payable. We’ll find out how different loan terms impact your repayments, and a find the ‘sweet spot’ that works best for you.
Interest rate
There’s a surprising variation in interest rates available. But the lowest rate isn’t always the best. We’ll explain why, and help find a loan with the best rate for you.
Repayment options
Most people repay their loan monthly. If you switch that to a fortnightly payment, you can save over the life of the loan. Let’s see if that’s an option that suits you.
Loan features
Offset, redraw, linked credit cards and more. Taking advantage of bundled loan features can make life easier and save on interest and fees. Our brokers can explain there features and find a loan that works for you.
Fees and charges
Extra charges are always worth keeping an eye on. Sometimes it’s actually worth paying a bit more. Sometimes not. We’ll weigh up the options and explain the impact of your overall repayments.
Home equity
If you’ve owned your property for a while, you may have built up ‘equity’ – an increase in house value could mean you can access a more favourable loan with less interest to pay.
Talk to us
With hundreds of different home loans available from dozens of lenders in Australia, finding the best deal is tricky.
Mortgage Broker Melbourne experts can do the legwork and find you the best loan for your circumstances. And best of all, or services is totally free for you (lender fees and charges may apply, but we build those into our analysis).
Let us see if we can get you a better deal on your existing home loan.
Marc has been a professional lender for 28 years. After beginning his career in 1990 with a UK Building Society, he moved to Australia where he held several different retail banking roles. In 1999 it became clear to him that a mortgage broker would eventually become an obvious choice for someone looking for a home loan so he took the plunge and became an independent broker. He hasn’t looked back since!