Home loans can take a very long time to pay off – about 30 years tends to be the industry standard. Plenty can change over that amount of time, and we aren’t just talking about the interest rate. You could decide that you aren’t happy with your current loan provider.

A recent Roy Morgan poll, for example, revealed that people were losing confidence in the four big banks, with home loan customer satisfaction dropping compared to last year. Thankfully, however, there are alternatives to big banks. Mortgages can come from all sorts of different lenders, and a mortgage broker can help you find them. So how can we help you stay satisfied with your home loan?

Is it time to reweigh your home loan?Is it time to reweigh your home loan?

Start as you mean to finish

The easiest way to deal with this problem is to make sure you don’t run into it in the first place. People often stick with their current bank or previous lenders when it comes to home loan, and that may be okay for the time being. You may be very satisfied with your bank and be willing to pay a potentially higher rate than you would otherwise for them to be your mortgage supplier.

However, many people don’t seem to realise that the credit market is a competitive one. The reason that mortgage brokers exist is to ensure that you get as many options as possible. Start as you mean to finish with your home loan – go to a mortgage broker and get the full story.

Refinance if you need to

Good credit is a valuable commodity, and one you can use to negotiate a better rate.

There may come a time when you want to leverage that good credit you’ve been earning in order to get a lower interest rate throughrefinancing your loan. Perhaps you want to buy an investment property or go on a really fantastic holiday, so you need to access the equity in your home.

This gives you an opportunity to see what other lenders can offer you for being your customer. Good credit is a valuable commodity, and one you can use to negotiate a better rate. If you’re part of the two in three Australians that CoreLogic RP Data reports are concerned about the property market, it pays to make the most of your home loan and remain satisfied with your lender.

So if you’re feeling unsatisfied with your loan, get in touch with a mortgage broker and see how you can improve your situation!

You can contact a Smartline Mortgage Adviser on 13 14 97 for mortgage advice. Or complete our call request form and we’ll call you!