When it comes to home loans, a Trusted Mortgage Broker plays an integral role in helping you identify the most suitable products and preparing your application.

But did you know that your Trusted Mortgage Broker can continue to be a valuable port of call long after all the I’s have been dotted and the T’s have been crossed?

The reality is that a home loan is a serious long-term commitment – and over the years and decades to come, it is very possible that the markets, and your individual situation, can change.

This is why it is so important that your Trusted Mortgage Brokerconducts an annual review to ensure your home loan is still meeting your needs.

Annual reviews can not only help you determine whether your current loan is working well for you, but also can help you talk through any changes you may wish to make to your current mortgage.

For example, you may wish to add new features to your mortgage – redraw is often a popular choice – or you may wish to organise additional repayments to pay off your home loan more quickly.

If you are coming to the end of a fixed rate term, you must speak to your Trusted Mortgage Broker about the other competitive rates available – and if you have a variable rate mortgage, you might want to assess how closely it tracks the cash rate movements set out by the Reserve Bank of Australia.

Another option is to split your mortgage into fixed-rate and variable proportions – this can give you the flexibility to move with the market, while at the same time providing a certain level of certainty when it comes to your repayments.

Your needs will change over time – and new products are always coming onto the market – so it is important to check in with your Trusted Mortgage Broker regularly to ensure you are budgeting as effectively as possible.

Trusted Mortgage Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan. Have a look at our calculators on our website to help you further. www.trustedmortgagebroker.com.au/calculators/

About the Author

Sue Hayter

Sue's service commitment is fantastic. At Trusted Mortgage Broker we work with our clients to ensure they understand their options, know exactly how much they can borrow and ensure they choose the right home loan and the right lender that is not unsuitable to their individual needs.

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