Loan review

Mortgage health check calculator

Check how your home loan is really performing: how much pressure your repayments put on your budget, how much equity you have, and whether your rate is still competitive.

What it checks

The signs of a healthy home loan.

Repayment pressure

How much of your income goes on repayments, and how comfortably you could manage if rates rose.

Equity and LVR

How much of your home you own and your loan-to-value ratio, which shapes the rates and options open to you.

Rate competitiveness

How your rate compares with what's on offer, since existing customers often pay more than new ones.

Why it matters

Most home loans are set and forgotten.

Rates, property values and your circumstances change. A loan that suited you three years ago may not suit you now, whether you stay put or refinance.

The loyalty tax

Lenders often offer sharper rates to new customers than to people who've been with them for years. Reviewing your loan every year or two keeps your rate honest, whether you switch or not.

Your LVR may have improved

If your property has grown in value and you've paid your loan down, your LVR may now be low enough to qualify for better rates than you started with.

Repayments that fit

Keeping repayments at a comfortable share of your income leaves room for rate rises and life changes. If things feel tight, there may be ways to restructure.

What a proper review covers

Beyond the rate, we look at fees, features, loan structure and your plans, then tell you honestly whether to stay, ask your lender to reprice, or refinance.

Loan review questions

A little attention goes a long way.

What people ask us most about reviewing their home loan. Got another? Book a chat.

How often should I review my home loan?

Once a year is a good habit, and any time your circumstances change, such as a pay rise, a new baby, a renovation, or a fixed rate coming to an end.

What is a good LVR?

An LVR of 80% or below generally avoids lenders mortgage insurance and opens up more lenders and sharper rates. The lower your LVR, the more options you tend to have.

How much of my income should go on my mortgage?

There's no single rule. A common benchmark is keeping repayments below about 30% of your gross income, but what's comfortable depends on your other costs and goals.

What is the loyalty tax on home loans?

It's the gap between the rate an existing customer pays and the rate the same lender offers new customers. Asking your lender to reprice, or refinancing, can close it.

Will a health check affect my credit score?

No. Using this calculator or talking to us about your loan doesn't touch your credit file. An enquiry is only recorded if you apply for new credit.

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