This episode is all about how to compare and switch home loans to save you money, and features an interview with a mortgage broker.
There are thousands of home loans available on the market, so chances are at least one of them offers
features like apps and internet banking that are better than your current mortgage.
Depending on your current loan amount, loan period and other loan terms, the savings to be had can be enormous.
Mia and Dinah talk about the recent changes in the home loan market in Australia due to both falling property prices and the impact of the Royal Commission into banking. This could lead to a rate decrease later this year, which may make it a good time to switch home loans.
Dinah and Mia talk about the key features you should consider when comparing loans including:
This episode includes an interview with mortgage broker, Donna from Wilde F&I in Melbourne. She provides some tips on what to consider when comparing home loans and the benefits of using a broker including understanding the products that are out there and the deals that are available. The interview also covers the costs and process of switching and the paperwork you will need such as loan statements, tax records, and budgets. They also talk about what paperwork is important to keep.
Money Smart website – government website with financial guidance on switching home loans
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