How often should I review my mortgage?

Dear Kerry,

You need to review it every 2 to 3 years. If you refinance, you need to take a term equal to the remaining term and don't go back to 30 years, otherwise you would re-extend your mortgage back to 30 years.
All brokers have access to many lenders and would be able to give you a good selection of appropriate lenders that would save you money.
Please do not hesitate to contact me.
best regards

Kerry, Good morning and thank you for your question. There are many experts (and I am in agreement with them) that suggest you should review your mortgage at least every two years (or at the expiry of a Fixed Rate term).
Lenders continuously introduce new and repriced products for "new customers" to keep a competitive edge in the market place. If you are not benefiting from these competitive advantages then it may be possible to change Lenders and save some significant money.
Prior to changing however, it can also be a good idea to ask your existing Lender to consider a more competitive rate so that you avoid the costs of changing to a new Lender.
Some Lenders (on certain products) will offer to reimburse enough money to cover your refinancing costs.
A good Mortgage Broker will work with you each couple of years to provide you the market information you need to determine if your current Lender remains the best option for you.
Should you wish to touch base with me, I would be happy to provide you a quick comparison over the phone and then we could decide if it is beneficial to meet for a more detailed conversation.
Best Regards
Ken Olds
Customers First Mortgages & Insurance
1300 ASK KEN (275 536)

If you are unsure if you have the lowest repayments from a lender - want to make any changes like release equity, investment or purchase a new home, you should see a mortgage broker.

More people get divorced than change their home loan - does that make any sense?