11 Reasons Why You Need a Home Loan Health Check

People are often surprised that reviewing their home loan can not only give them a lower interest rate but put them in a better financial position to what they are in now.

The marketplace for home loans is very competitive. There are many different types of home loans available and they are not all with the big banks. In fact some of the best home loans may be with the smaller lenders. Not only do they often offer better interest rates they can offer a range of other financial advantages to assist you with your financial goals and needs.

house_health_check_2011As a rule of thumb you should have a home loan health check at least every 3 years.

A free loan check is best done with a lending professional such as a finance broker who have the access to a broad range of lenders and products and work with you closely to ensure you have the best product for your needs. The ultimate goal is for you to be in a better financial position than what you are in now.

Here are 10 reasons why you should have a Free Home Loan Health Check:

  1. If you have had your current home loan for 3 years or more
  2. If you have changed jobs and your financial situation has changed
  3. If you have started a family or your children are now reaching their teenage years;
  4. If there are interest rate rises or decreases it is worth comparing your loan to other lender products;
  5. If you have personal loans, car loans, credit cards consolidating them into a home loan a better interest rate will save you money;
  6. If you are getting closer to retirement your investment goals have changed;
  7. If you are considering purchasing an investment property;
  8. If you have a business and don’t get paid as a PAYG employee and you have previously had to take out a loan at a high interest rate because of this;
  9. If you would like money for a special purpose like a holiday, renovations, car, or anything a review of your home loan may allow you to use the equity in your home and “top up”.
  10. If you are considering moving, you can get a good idea as to how much you can borrow and even get a pre-approval for a new loan so you can go house hunting feeling confident  of your financial situation
  11. If you are a business owner and have business debt, you can consolidate that business debt (including ATO debt) into a new home loan.


Katherine Quirke is a Professional Loans Consultant for One Stop Loans Store in Australia. Her professional services assist individuals, families and businesses with their lending financial needs. In every instance Katherine works closely with her clients to put them in a better financial position. Every situation is assessed for a positive outcome no matter how complex. Visit www.onestoploans.com.au for more information.