Most people realise that reviewing their home loan could result in savings. But exactly how much money could be saved by simply checking in to see what other loans are available on the market?
We spoke with Peter Taliangis, a Fremantle real estate agent who just recently partnered with Capita mortgage broker, Lukas Best.
Peter has been a real estate agent for 9 years, and explained to us that many people simply don’t realise they could be saving more on their home loan.
“Unfortunately, there’s so many things going on in people’s lives that they often set and forget,” he said.
“This is a costly ‘set and forget’ though, so we need to increase people’s consciousness of this as an expensive problem.”
While it’s impossible to put a dollar value on the amount that could be saved through an annual home loan review, Peter mentions a recent study, which indicates banking customers could be wasting as much as $70,000, over the lifetime of their loan.
Although this figure is certainly alarming, it doesn’t have to be the status quo.
“Nobody wants to waste money on a bad loan or a structure that doesn’t suit their financial situation,” Peter explained.
“Recently I read some people will spend $70,000 more on their home loan than they should, simply because they hadn’t done an annual review of their home loan and renegotiated rates or structure.”
A home loan review is not something you need to do yourself. It’s a service provided by Capita, free of charge, for clients who need support with their residential home loan.
A finance professional will look at your existing loan, and ask about your circumstances and financial goals, to get a better understanding of what loan is right for you.
Then, we take a look at hundreds of different alternative loan products, to see if a cheaper option more suited to your needs, is available.
In most cases, we are able to pinpoint a loan that saves you more than your existing one. Then we organise the paperwork and refinance the loan for you.
This all happens free of charge, as the lender you end up choosing pays us a commission directly, when the new loan is settled. This payment is not hidden in your new loan, or anywhere else.
The process involves visiting a Capita office, or we can come to you.
An hour or two per year is nothing in comparison to the potential savings you may realise. And the peace of mind you will have, knowing you’re choosing the most suitable loan for your budget and circumstances.
Thanks to Peter for lending his knowledge for this blog. Peter is a new member of the Capita family, and we love the way he is so committed to supporting his clients South of the River and around the rest of WA too.
Peter partnered with a Capita broker, because he wanted to make sure people were realising every dollar on their investment.
“I look forward to helping people make better decisions, and have a happier financial future,” he said.
Need a free home loan review?
Contact us for a free home loan review before the Christmas holiday, so you’re ready for the year ahead. You can also book a consultation with one of our finance professionals for the New Year, and we will follow up in 2018.
Talk to us about getting started!