One of the common mistakes that many Australian homeowners make is assuming that the terms of your mortgage are finite.

Over the life of your home loan, your financial circumstances are likely to change several times.

Whether you get a higher paying job, cut back on your hours or start a family – the amount of money you have to spend is going to vary throughout your lifetime.

Besides life altering changes to your circumstances, you may simply want to take advantage of a lower interest rate offer, renovate your house or move to a better lender.

It therefore makes sense that every now and then, you check in on your mortgage terms to make sure that they are suiting your personal needs.

A mortgage adviser can help
Refinancing your mortgage is not a decision that comes easy. Before embarking on any major shift in financial strategy, it is recommended that you speak to a professional.

Mortgage brokers have the market and product knowledge to help you decide if refinancing is right for you, and which option will best suit your circumstances.

Accounting for all aspects of your existing home loan, your adviser can help you navigate 25 banks and lenders to discern between the various mortgage structures, fees, terms and conditions to find a better option.

You can also work with your adviser to secure any extra convenience features you may want such as internet banking, discounted credit cards and insurance.

If you are not sure whether you would benefit from mortgage refinancing, it is best to look at all the angles with the help of a financial expert.

It is not the right choice for everyone, but it could end up saving you thousands of dollars!

To arrange a home loan health check you can contact a Smartline Mortgage Adviser on 13 14 97 or complete our request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.