Rates are on the way down… are you paying too much?

After a lengthy stretch of high rates, interest rates are finally easing, which is welcome news for anyone with a mortgage. Now could be the perfect moment to take a closer look at your loan. If you’ve been with your lender for a while, there’s a good chance you’re paying more than you need to.

Even though a small rate difference—like 0.5%—might not sound like much, but over the life of a loan, it could mean saving tens or even hundreds of thousands of dollars. If you haven’t checked your mortgage lately, you might be in the same boat.

What’s the Loyalty Tax?
Over time, the gap between interest rates on older loans and newer ones tends to grow. Lenders often roll out attractive deals to reel in new customers, leaving long-term borrowers footing the bill for those discounts.

The Reserve Bank of Australia (RBA) regularly flags this issue, pointing out that people with older mortgages could be stuck with much higher rates than those signing up today. The RBA encourages borrowers—especially those with loans from years past—to shop around for a better deal.

While that sounds appealing, many think refinancing is too much trouble. But it doesn’t have to be—and with rates finally trending downward, now might be the time to see if switching pays off.

Why don’t people switch, and how can we make it easier?

• It feels overwhelming – Our online portal streamlines everything with easy digital forms you can complete whenever it suits you.
• No time to spare – We handle the heavy lifting, researching lenders for you and offering flexible digital meetings or visits to your home or office.
• Paperwork overload – Most documents can now be uploaded through our customer portal, and we can even pull your bank statements digitally on your behalf.

Whether refinancing feels like a daunting task, you’re unsure if it’s worth the effort, or you just want a fresh look at your finances as rates shift, we’re here to help. Just reach out—we’d love to assist!