Moving House — Is your old home loan still right?

Now is the perfect time to ask if your old home mortgage is still right for you. You’re refinancing anyway, to cover your new home, so while you’re at it, why not make sure you have the most appropriate loan for your situation? One that makes the most of your current equity.

Don’t just stay with your existing bank for your second mortgage

It’s tempting to just stay with your existing bank and simply change the limit of your second mortgage. But that isn’t always the best option, for several reasons…

Banks work harder for new customers

Unfortunately, banks usually offer their best deals to new customers, not existing customers. They know they have to work harder to attract new business because — like you — most existing customers would rather stay with their current bank than go through the hassle of shopping around and changing banks to maximise their equity.

If you’re borrowing more, you have more to bargain with

If your second mortgage is bigger than your first, you’ll have more bargaining chips, and you could well get a better deal. If you simply increase the limit on your existing mortgage, your rates and conditions probably won’t change at all, so you’ll be missing out on the benefits of increased borrowings.

Things change

The mortgage market is constantly changing. New home loan products and new lenders come out almost daily, and the economy has had a big impact on home loan rates, fees, features and conditions. Your own needs have probably changed quite a bit too. New additions to the family, investments, new cars, changing jobs, kids moving out, increased equity… So the setup and conditions of your first mortgage may be completely inappropriate for your second.

Let us find you a better second mortgage

Of course, there’s no need for you to do all the legwork yourself for your second mortgage. Researching loans, rates, terms and conditions, fees, features… It all takes time. Instead, let us do it for you. Just tell us what you’re after for your second mortgage, and our specialist mortgage brokers will do all the hard work for you. And because they do this every day, they know exactly where to look — and who to talk to — to find the right loan for any situation. They even have access to loans not offered by any other mortgage brokers in Australia.

All it takes is a phone call

Simply fill in the form below, and set us to work on your second mortgage. All it takes is a brief initial interview for us to understand your situation. Then you can leave the rest to our mortgage broking team.