Home Loan Health Check

In the current market, where rates are low (and anticipated to fall further), are you confident you are receiving the best deal for your property?

Changes imposed by APRA (Australian Prudential Regulation Authority) have resulted in tighter lending criteria over the past couple of years in order to prevent a ‘property bubble,’ however in the current economic environment this seems to be easing. In essence, this means if you settled a loan in the last 2-3 years, you may now qualify for a better rate.

Some points to consider:

  • Have you changed jobs, or increased your earning capacity in the last 3 years?
  • Have you reduced your outgoings, sold assets or paid off other debt?
  • Have property values improved in your area since purchasing the property?
  • Has your ‘honeymoon’ or introductory rate expired since settling your loan, and your rate subsequently increased?
  • Have you made capital improvements to the property?
  • Have there been any zoning changes in your area (if your block is now subdivisible, it is likely to have increased in value)
  • Have there been any significant infrastructure projects in the area? New hospitals, roads, schools or public transport?
  • Are you now bringing in additional rent or board through sub letting a room or granny flat?

If you answered ‘yes’ to any of the above questions, you could be paying too much.


Contact one of the team at Flexible Capital today, and receive a no obligation assessment of your current situation – one call may save you thousands!

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