Our Read Alert System For Your Home Loan
We are committed to working with you to ensure your loan is competitive priced and featured. We will keep informed about what is happening in the home loan market on a regular basis. During the life of your loan we will continue to monitor the competitiveness of your loan product and changes in your profile which may mean that we can favorably assess your refinance options and save you money.
With exit fees, set-up costs on new loans and potential home loan cash back rewards received during the first two years of your contract, any decision to change loans will generally not take place until after two years from settlement date. In addition, we need to ensure the benefit is genuine and material, as receiving a lower interest rates might not always achieve your objective if it takes a number of years to realise a true effective saving.
Through our Red Alert System we realize timing is critical. If you are to be alerted of a favorable refinance option, advice will also be given regarding how long it will take to breakeven and then start achieving true saving on new loan once all costs are factored in. In some cases it could be say six months and other say 3 years. The benefit of our Red Alert System is it provides you with full transparency and ability to make an informed decision on refinance options. In other cases, it is just nice to know that your existing loan is right for you.
During the life of your loan we will provide you opportunities to communicate to us material changes in your life which could impact the suitability of your existing loan. Whether it is change in relationship status, change in jobs, promotions or new children, they could all impact the potential need to change loans.