When is it worth reviewing your home loan rate?

Rate is important, but fees, features, loan term and long-term interest costs also belong in a refinance comparison.

A lower advertised rate does not automatically produce a better overall outcome. Discharge costs, application fees, package fees and changes to useful features can affect the result.

Extending a loan back to a longer term can reduce monthly repayments while increasing total interest paid. A comparison should therefore look beyond the immediate repayment figure.

A structured review can help identify whether staying, renegotiating or refinancing is more appropriate for the borrower’s goals.