Feeling overcharged on your mortgage? Here’s how to get a better rate.

If you’ve been wondering whether your home loan rate is as competitive as it could be, you’re not alone. New research from Agile Market Intelligence shows that nearly half of borrowers who feel they’re getting a worse deal than the market is extremely likely to switch lenders within a year.

If that sounds like you, don’t wait, talk to FinancePath today. We’re here to help you explore your options and potentially lock in a lower rate that suits your goals.

Why more Aussies are refinancing

With interest rates still fluctuating and comparison tools more accessible than ever, homeowners are becoming smarter and more proactive. The research shows:

• Rate dissatisfaction is the #1 reason people switch lenders
• Investment property owners and personal loan holders are the most likely to feel they’re getting a bad deal
• Even owner-occupiers are starting to question whether their loyalty is costing them

And here’s the kicker: many borrowers don’t even realise they could be saving thousands just by refinancing.

Are you paying a “loyalty tax”?

Some lenders rely on customer inertia hoping you won’t shop around or ask questions. But in today’s market, loyalty shouldn’t cost you more.

If you haven’t reviewed your mortgage in the last 12-18 months, there’s a good chance you’re paying more than you need to. And if you’ve had to fight hard for a rate reduction or feel like your lender isn’t listening, it might be time to make a move.

The hidden cost of rate creep over five years

Failing to proactively review your home loan rate can quietly erode your finances. Even small annual increases known as rate creep, add up significantly over time.

For example, on a $750,000 loan, if your interest rate creeps up by just 0.10% in Year 1, 0.15% in Year 2, and continues gradually to 0.30% by Year 5, the cumulative impact is striking:

• Year 1: $725
• Year 2: $1,050
• Year 3: $1,350
• Year 4: $1,625
• Year 5: $1,875

That’s a total of $6,626 in extra interest over five years—money that could have stayed in your pocket. And the effect doesn’t stop there. Every year beyond that five-year mark, the higher rate continues to cost you more, compounding the impact.

Bottom line: A proactive rate review isn’t just good practice, it’s a direct way to protect your wealth. By acting early, you can avoid thousands in unnecessary interest and keep your financial goals on track.

What you can do right now

Refinancing doesn’t have to be complicated. At FinancePath, we make it simple:

• We’ll compare your current rate with what’s available in the market
• We’ll assess your personal and financial situation to find the best fit
• We’ll handle the paperwork and guide you every step of the way

Whether you’re looking to reduce repayments, free up cash flow, or just want peace of mind that you’re not overpaying, we’re here to help.

Let’s talk

If you’re even thinking about refinancing, let’s chat. There’s no pressure, just a friendly conversation to see what’s possible.

Reach out to FinancePath today and let’s explore how we can help you get a better rate and take control of your mortgage.