Beginner’s Guide to
What Are Home Loan Health Checks?
A home loan health check Australia is a review of your current mortgage to ensure you are getting the best deal for your particular financial situation. This can include assessing any fees, charges or penalties associated with your loan, checking if there is an opportunity to refinance or consolidate existing debts, and making sure you are aware of all the options available to you.
Home loan health checks can also help you identify ways to reduce long-term interest costs by switching to a more competitive lender or Brisbane home loan product.
How Do Home Loan Health Checks Work?
Home loan health checks work by thoroughly examining your current home loan and comparing it to other loan products available in the market. They typically takes between 20 minutes and an hour.
During a home loan health check, you will discuss your finances with an experienced Brisbane mortgage broker or mortgage specialist. They can:
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Look at the specific features of your existing loan;
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Find any areas where you could benefit from better repayment terms or more competitive interest rates;
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Advise on whether refinancing or consolidating debts is appropriate for your financial situation;
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Discuss possible strategies with you to help you manage your finances more efficiently, such as setting up regular payments, making additional repayments or linking accounts as an offset for extra efficiency.
What to Look For in a Home Loan
When evaluating a Brisbane home loan, it is important to look at the features of the loan like:
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Interest rates (fixed and variable)
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Portability
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Any applicable discounts for making additional payments
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Ability to consolidate debts
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The level of customer service you receive from your lender
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Exit fees and other costs associated with switching to a new rate or lender
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Penalties
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Repayment options
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Extra repayments
Benefits of a Home Loan Health Check

Get an up-to-date picture of your current home loan and its features

Explore and compare other home loans to determine suitability including cashbacks

Receive advice on how to reduce long-term interest costs

Get an up-to-date picture of your current home loan and its features

Explore and compare other home loans to determine suitability including cashbacks

Receive advice on how to reduce long-term interest costs
Are You Paying a Mortgage “Pineapple Loyalty Tax”?
Find Out By Getting a Home Loan Health Check
Brisbane first home buyers and homeowners should try to avoid what we call a ”pineapple tax” because it can significantly increase the cost of their Brisbane home loans. This “tax” can be costly, especially for those who have taken out a loan for a significant amount. So, there may be more affordable interest rates and lower fees available if you’re willing to shop around and research other lenders.
But wait… what is a “pineapple mortgage loyalty tax”?
A “mortgage pineapple loyalty tax” (a phrase we have initiated lol) in Australia is passed to customers who stay with the same lender for an extended period of time. Mainly ones who do not regularly review their home loans thinking their bank is looking after them!
This “tax” is actually just the margin the bank is making on your loan over a long period of time by not repricing the loan to make it better for you. They are in the business of making money of course, and by not regularly passing on or reducing rates for existing clients – we have seen clients pay .50%-1.50% or more than they need to be as their bank has adjusted new business rates but not their back book on existing loyal clients.
Ultimately, it’s important for Australians considering a home loan to evaluate their options regularly, preferably with a mortgage broker North Brisbane – especially if there are signs of taking a pineapple.
Commonly Asked Home Loan Health Check Questions
Why should I get a home loan health check?
Getting a home loan health check can help you save money and reduce the amount of long-term interest costs by switching to a more competitive lender or product. A home loan health check provides a more detailed look at your finances and helps identify areas where you can make improvements in order to reduce your overall debt burden. Additionally, it can help you better understand the various features associated with different loans and products, so that you can choose one that best suits your needs.
What services are included in a home loan health check?
During a home loan health check, experts will review all aspects of your current mortgage such as rates, terms and conditions, fees & charges, mortgage insurance coverages etc. They will provide advice on the best refinancing options available to you based on your financial circumstances including consolidation of multiple loans into one single payment with lower interest rate. In addition, they may suggest ways for improving credit score which could lead to lower interest rates as well as recommend suitable budgeting strategies for managing debt repayment better over time.
Is there any cost associated with obtaining Home Loan Health Checks?
No; there are no costs associated with obtaining a Home Loan Health Check from most lenders or brokers in Australia – although some may charge additional fees depending on the complexity of their services provided during this assessment period. Generally speaking though, banks or brokers will provide this service free-of-charge when requested by their customers who wish to switch lenders or refinance their existing mortgages.
What happens after I receive my Home Loan Health Check results?
Once a professional assessor has completed their review they will provide recommendations regarding what course of action should be taken next – such as switching lenders or seeking refinancing options requiring further research before taking any decisions (if applicable). However it’s up to each individual customer to decide whether they want to proceed with implementing any changes suggested by the assessor – always keeping in mind their own personal financial goals and circumstances when making these decisions.
Are there any potential risks involved with undertaking a home loan health check?
There are very few risks associated with undertaking a home loan health check. However, it’s important to remember that changing lenders or products could have some implications on things like exit fees attached to existing mortgages or early termination fees charged by certain providers. It’s also worth noting that if any errors appear on your credit report (which may happen due to incorrect information being provided), then this could potentially prevent you from successfully refinancing until these issues have been resolved.
How often should I get home loan health checks?
It’s generally recommended that people assess their mortgage situation every two years; however, this doesn’t necessarily mean going through the entire process each time (since some products may not have changed significantly since last review). Instead, simply reviewing relevant documents (such as recent bank statements) or speaking with your lender about current offers can help keep track of changes taking place in the market so that appropriate action can be taken when necessary
5.0 STAR REVIEWS
NBHL Brokers for Brisbane Home Loan Reviews

A*
I highly recommend Pat and his team to anyone looking for finance.
was exactly as discussed with no surprises. I will continue to use their services, it's a great family and local business.
We have bought a number of properties over the years. Pat and and the team make everything so easy for us. Pat’s knowledge and expertise has saved us so much money over the years, and we will continue to go back to NBHL time after time.
Pat and the team have a truly spectacular and streamline business. Their secure platform, digital systems and informative communications & instruction helped us broker a competitive loan and secure a property. With how busy life can get, having North Brisbane Home Loans provide their services has been an absolute stress saver!
I have been doing business with NBHL for quite some time as Patrick is an exceptional Mortgage Broker! He is professional, very knowledgeable, and quick to respond to any questions I had regarding my home loan, he consistently exceeds my expectations. I highly recommend Patrick and his team to anyone applying for a home loan or just wanting to refinance.
Bogdan & Eleanor
I recently had the pleasure of working with Patrick again after 3 years for our refinance, and I couldn’t be happier with the experience. Patrick, Jake and the whole team were extremely knowledgeable, professional, and patient as we navigated the whole process. They took the time to understand our needs and preferences, and found us the best suited option. The use of their portals to upload information and documents is a game changer! I would also like to mention the articles in the monthly newsletters are quite in depth and have been incredibly insightful. I have highly recommend Patrick and NBHL to friends, family and colleagues. See you next time! Cheers!
They went above and beyond to help us get our loan at the best deal and worked around the clock for us
Cannot thank then enough!
Any issues you come across, they will know how to handle it.
Would definitely recommend to friends and family.
We are very happy with our experience and would recommend others to use NBHL when looking for a fast and easy borrowing experience.
Their professionalism and communication with us were of the highest order. I would highly recommend Pat to anyone looking for a homeloan!!
Have now used NBHL for re-financing our home loan and to purchase our investment property. Can highly recommend.
You consistently ensured that we understood each step of the home loan process. Your ability to explain complex financial terms in a simplified manner made us feel confident and empowered in making informed decisions.
Moreover, your expertise in utilising technology to streamline the loan application process was truly remarkable. From secure online document submission to virtual meetings, you effortlessly incorporated modern tools into our interactions. This not only saved time but also demonstrated your commitment to staying at the forefront of industry trends, ensuring a smooth and efficient experience.
Once again, thank you for everything you have done. I wish you continued success in your endeavours, and may your expertise positively impact many more individuals like myself.
Well done Team North Brisbane Home Loans!!
They kept me informed at every stage of the process from the solution hunting, to the decision making and throughout the closing process.
Their services were invaluable and I couldn’t recommend them highly enough.
Pat, Di and the team at North Brisbane Home Loans are so lovely and took away a lot of the stress of the whole process by communicating regularly and by explaining in detail all answers to any questions we had. They guided us through every step of the way and now thanks to the team we are in our dream home.
Thank you all so much, we are over the moon!
10/10 recommend!
They were extremely responsive throughout the entire process with consistent and reliable communication.
Would recommend to anyone looking to get into the market with a knowledgeable Broker!
Thankyou.
Thanks to the team at NBHL for everything.
We used Pat and his team when we originally bought our first home back in 2017, and they were so fabulous that we went back to them this year (2022) to re-mortgage and change up our home loan. They do a wonderful job - great communication and dedication to get you the best rates possible. They also fix any mistakes the bank makes for you, quickly and efficiently. Can't rate them high enough, we will definitely be going back to them in the future.
Back in 2021 a colleague referred me to Patrick, we weren’t ready to buy yet but wanted to meet Pat as he had helped my colleague with his family home, plus 2 additional investment properties. My colleague was so impressed by the services offered by Pat that I had to meet him for myself! He didn’t disappointment, we decided after our first meeting on a plan and locked in to touch base again in a years time!
1 year later, everything was in place and Pat helped us put everything in place and we are now proudly living in our new family home!
Many healthily conversations were had, and Pat is really knowledgeable but we also appreciate his cool and calm manner.
We will not hesitate to refer him and North Shore Home Loans to friends and family. We will also definitely be reaching out again when we expand our investment portfolio in the future.
We had a very pleasant experience with Luke he took the time to investigate several different scenarios to get us the best possible product and solution. Luke and Fiona were very responsive to our queries even calling after hours when necessary. While we were first time home buyers they reassured us every step of the way, confident in their advice and decision. Their patience and willingness to walk us step by step each process over the phone was greatly appreciated.
Overall a very efficient and professional organisation you won’t be disappointed.