Most Australian homeowners set up their home loan and don't look at it again for years. That's understandable — life gets busy. But the mortgage market moves constantly, and the rate you locked in two or three years ago may have nothing to do with what's available today. Here are the signs worth paying attention to.

You Haven't Reviewed Your Rate in Over 12 Months

Lenders regularly offer sharper rates to new customers than they do to existing ones. It's called the loyalty tax — and it's real. If you haven't asked your lender what rate you're actually on, or compared it against what's currently available in the market, there's a reasonable chance you're paying more than you need to.

A rate review costs nothing. Not doing one could cost you significantly more over the life of your loan.

Your lender's best rate for new customers is often not the rate you're currently on. The gap between the two is worth finding out.

Your Loan Features Don't Match How You Use It

A home loan isn't just a rate — it's a product. If you're sitting on a basic variable loan but you have savings you could park in an offset account, you're paying interest on money you don't need to. If you're on a fixed rate that's about to expire and you haven't planned for the revert rate, you could be in for a shock.

Ask yourself: does the structure of my loan still match my life? If you've had a pay rise, changed jobs, had kids, or paid down a chunk of principal — the answer might be no.

You're Not Sure What Your Current Rate Even Is

This one is more common than people admit. If you had to look it up right now, that's a sign the loan hasn't been on your radar. Your current rate is the starting point for any review — if you don't know it, you can't compare it.

Check your last statement or log into your lender's app. Then compare it to what new customers are being offered by the same lender. The gap is your baseline.

You've Never Had a Broker Review Your Loan

Your bank works for your bank. A mortgage broker works across multiple lenders and can tell you whether your current loan is competitive — or whether switching would put you in a better position. A home loan health check is exactly that: a structured review of your rate, your loan structure, your features, and whether there's a better option available.

It's not a sales pitch. It's a second opinion on one of the biggest financial commitments you have. The worst case is you confirm you're already on a good deal.

What Happens in a Home Loan Health Check?

See exactly what a broker reviews and how long it takes.

Read the full breakdown →

Wondering If Your Mortgage Is Still Competitive?

A home loan health check takes 30 minutes and gives you a clear answer. Rates and products change — what worked for you three years ago may not be the best option today.

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