Did you know that mortgage brokers continue to provide value even after your home loan settles?
Good brokers will run an annual review to check that you’re still getting a competitive interest rate, and getting most of your home loan features and the equity in your property.
What does a mortgage broker do post-settlement?
We have a dedicated post-settlement team and here are some ways our team can help you to manage your home loan:
- Monitor your interest rate: To ensure you’re still getting a competitive interest rate, our brokers complete an annual mortgage review and either renegotiate your interest rate with your lender or refinance your home loan.
- Explain your home loan features: Our brokers help you understand your repayment schedule and how to best use your home loan features.
- Provide a property valuation: We can organise a free property valuation in 12 months’ time so you can see how your home is performing and whether you’re in a position to access equity for investment.
- Guide you through the construction loan process: For existing customers looking to build a property, we can help you manage the progress payments to ensure you avoid penalties and delays in the building process.
- Refinance your bad credit home loan: If you have on a low doc bad credit loan, or you were otherwise approved with a high-interest rate specialist lender, our post-settlement team will let you know if you can refinance back to a prime lender at a lower rate.
Our mortgage brokers deal with many post-settlement queries on a daily basis so call us on 1300 889 743 or fill in our online enquiry form to discover how we can help you.
How is Home Loan Experts different?
To be clear, not all mortgage brokers have a post-settlement process but Home Loan Experts has a team dedicated to assisting borrowers after mortgage settlement.
Rather than relying solely on a bank manager or managing your home loan on your own, our mortgage brokers offer the following benefits:
- Free, regular home loan health checks that ensure you are utilising all of the features on your home loan such as making extra repayments where possible, setting up direct debit to better manage multiple bills, and getting better use out of an offset account.
- An automated valuation report so you’re aware of the current equity in the property which can be used for investment, renovations and repairs, debt consolidation, and much more.
- Hassle-free service with any post-settlement related tasks to save you time and money.
- Access to nearly 40 lenders so our post-settlement can undertake a comparison and find you a lender that will charge you an interest rate that is at least 0.20% lower than what you are currently paying.
- Most of the time, the services provided by a broker, even after settlement, are completely free.
It’s highly unlikely that you’ll have to pay any fees if:
- Your mortgage is for more than $200,000.
- Your personal situation is not too complicated.
- You plan on keeping the mortgage for more than two years.
This is significantly different to dealing with your bank directly, who often play games with their clients’ home loans.
- When coming out of a fixed term rate, some banks will not only fail to notify the customer but may even overcharge on the variable rate.
- When switching lenders, the lender that you are refinancing from can slow down the discharge process so they can continue charging you interest for as long as they can.
- Banks can be generally disorganised so you will often find delays with your application along with missing documents when submitting your application.
Check out the mortgage broker versus bank page for a more detailed comparison.
Our mission is to delight our clients!
The path we follow to achieve our mission is by helping customers who are being let down by the Australian banking system.
We want to help people in tough situations and believe that our customers aren’t short-term payoffs but lifelong clients!
Our mortgage brokers are always ready to help. Simply call us on 1300 889 743 or complete our free online assessment form and find out for yourself how we can help you manage your home loan.