The other trick I have noticed is lenders offering customers very competitive deals with no mention of the discount being linked to their standard variable rate. Over time they simply increase the rate above that of the Reserve Bank increases or they fail to pass on the full discount when the reserve bank lowers the cash rate. So again it is only the new customers being looked after. These are both great ways for banks to increase their profits and they hope you don’t realise.

If you have been with your lender longer than 2 years it is time to get it reviewed. Competition has really improved amoungst lenders since the end of the GFC. Some lenders even help you with any exit cost to try and win your business.

One percent savings, on a $400,000 loan is equivalent to $4,000 per year. Over 3 years that is $12,000, that might be a holiday to the snow or a tropical island.

Is it time to refinance?

A dollar saved can be even better then two dollars earned. For example, if you are an average family with 2.2 kids earning the average income saving a dollar can be even better then earning two is essentially true. Each dollar earnt may lose you 32 cents in tax, and up to 50c if you are recieving family tax benefit A and B. All up 82 cents in the dollar is lost from a dollar earnt. Is is any wonder when we earn more we can feel like we are going backwards.

At Mango Money we fight for you to get the best deal. Getting a home loan or refinancing your loan can be a stressful time, most people are unaware or feel uncomfortable negotiating a better rate with their lender. At Mango there is no need for you to go out of your comfort zone. Already this year multiple existing clients of ours received a phone call from me, letting them know they have just received a discount on their existing home loan. All of this without having to do a thing. We work hard to review our clients loans on a regular basis so that you are looked after like a loyal customer should be.

Are you the type of person who likes to be treated like a valuable client?

And are you the type of person who likes a good deal?

If so, you don’t need to worry about sitting at the negotiation table, we will do the hard work for you.

So give us a call today contact us using the form below. We can call or email you back, when it's convenient for you.