Why pay $1,500 more for your mortgage than your neighbour?

The idea of refinancing your home loan can seem like a major hassle, but the truth of the matter is, sitting on your hands is costing you real money when it comes to your mortgage.

Imagine this: you and your friend *Jim lives next door to each other in homes located on the exact same street, and during a friendly afternoon BBQ you discover something shocking: his loan is cheaper than yours. Substantially cheaper. In fact, even though you both have a similar property and the same home loan amount, he pays $150 per month less than you do. What’s the difference between you and Jim? A little bit of shopping around, a small pile of paperwork, and Jim’s dogged belief that he should never have to pay more for his loan than he needs to. Is your current loan good value? Check your loanScore nowYou see, Jim keeps an eye on his interest rates, and six months ago he went through a home loan refinance so he could get a competitive mortgage deal. He now pays less interest than you, and has lower home loan repayments. The idea of refinancing your home loan can seem like a major hassle, but the truth of the matter is, sitting on your hands is costing you real money when it comes to your mortgage. In the last 18 months, if you haven’t either picked up the phone and asked your lender for an interest rate discount or refinanced your loan, you could be missing out on huge savings.

How much could you save by refinancing your home loan? If you decide to refinance your home loan, you could enjoy big and immediate savings on your home loan repayments. We’ve used our home loan calculator to crunch the numbers – let’s look at a few examples: Refinance calculator tableIn each of these examples, we assume a 30-year loan term and a mortgage that you’ve had for three years (so there are 27 years to go). Your new loan term stays the same at 27 years when you refinance (although you might have the choice to take out a fresh 30-year-term if you’d prefer). We’ve also assumed a principal and interest repayment. It’s clear that the potential to save money through refinancing is available to anyone with a home loan, so what is stopping you from making the switch? A cheaper home loan might be no further than a quick phone call or click of the mouse away. To see how much you could save by refinancing your home loan, check out loanScore, our mortgage busting refinancing calculator so we can get you started on a better home loan deal today. Book in a quick call with our customer care team.* Jim is an entirely fictional character. Don’t blame poor Jim if you’re paying too much for your home loan – instead, enquire about refinancing today.Photo credit: Blog Next DoorBook a call in with UNO

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TESTIMONIALS

What our customers are saying

Gabe Windsor
October 26, 2023
What a fantastic experience using UNO Home Loans. Mike Parsons and the team were exceptional. Such an easy, hassle free experience, cannot recommend them highly enough. Mike Parsons was in touch every step of the way, and with him doing all the leg work, the transition to a refinanced home loan was a very easy one. Thank you!
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Laurisa Sticotti
July 1, 2023
Scott Wilkinson has been fantastic when dealing with my broking needs. He has held my hand through every step of the way and has made purchasing my first home a much more comfortable experience than I anticipated.
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Thusi Gamage
July 1, 2023
Awesome team, Very reliable and friendly. Scott Wilkinson is very experienced and knowledgeable.He guided us throughout the process and was available to help.
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Omar Zazou
June 1, 2023
I have worked with Scott Wilkinson to get my home loan and he has been a massive help to navigate my first home purchase. He has taken care of all the financial details and I didn't need to worry about anything. Highly recommend him for his professionalism, patience and support!
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Kelly O'Connor
June 1, 2023
You won’t find any broker better than Anita at UNO. We’ve told all our friends and family about her and will be using her for all our mortgages in the future! A stress free process from the start. She listened to our needs and was always available.
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Ashley Morson
We are truly grateful for uno home loans and our broker Karis Churchill. This is our second time purchasing a home with the help from Uno and both times have been a very positive experience. Our recent purchase had many obstacles due to different factors however it was our dream home and we were up for the challenge. Our broker Karis was a true support and went above and beyond. She communicated so well with our solicitor and the real estate agents. She kept us updated through every step and kept us motivated when things seemed impossible. Uno is very fortunate to have Karis as a broker and we would highly recommend her to anyone. Our family are so happy we are now in our new forever home. Thank you so much Karis and to the uno team!!!
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Ebubekir Demir
Thank you Eren for your quick and efficient turn around time to getting an approval for a loan. Will be recommending you to anyone that needs a quick and reliable loan.
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