Published at: 6/21/2016 3:29:33 PM
Try this quick quiz: How much did you get paid last pay day? That’s a no brainer, right? Okay, how much are you paying per litre to fill your car’s tank? Too easy huh? Finally, what’s the interest rate you’re currently paying on your home loan?
If you had to stop and think about the last question, you’re not alone. The rate you pay is a key aspect of your home loan, yet ME research shows only 41% of Australians are confident they know enough about loans to have the right home loan for their situation.
The thing is, it is virtually impossible to know if your current home loan offers a good deal or how it compares to other loans, if you’re not up to speed with the rate you’re currently paying.
Know where you’re at
For many of us, our home is our most valuable asset. And our home loan repayments can be our largest monthly expense. So it pays to stay on top of things.
Sure, we all want a good value home loan. And it starts by knowing what you’re currently paying. Check your latest loan statement or pick up the phone and ask your lender about your home loan interest rate.
Next, take a look at ME’s home loans. If you’re paying above our rates, you’re paying too much. It’s that easy.
Speak with your ME Mobile Banker to understand if you could save with a home loan refinance. Don’t be that guy who simply doesn’t know.