Life is hectic. And for many of us, managing our personal finances simply falls to the bottom of the to-do list. But with interest rates currently so low, sorting out a refinance of your mortgage could be well worth the effort.
In fact, it could mean thousands more dollars in your pocket. A 2018 Australian Competition and Consumer Commission (ACCC) report showed that new borrowers with an average-sized residential mortgage paid up to $850 less a year in interest than existing borrowers with the same lender. Doesn’t sound like much? Multiply that over a 30 year mortgage, and we’re talking more than $25,000 in total. Hello overseas holiday!
It can be easy to let our finances slip into the too-hard basket, but for that kind of benefit, we think it’s worth staying on top of. By not taking action, you are essentially getting slugged with a ‘lazy tax’.
The good news is that one simple phone call to your Nook mortgage broker is all it takes to get the ball rolling. We take the pain and time out of refinancing by doing all the leg work for you.
We can review your current mortgage and let you know if it stacks up. And if it doesn’t, we can help you get a better rate. We’ll do the research, sort out the application and manage the bank for you. Plus, we’ll check in with you each year to make sure everything remains on track.
So get cracking. Get in touch with Nook to set up a free mortgage review.