Reviewing your home loan annually can help you save money, reduce stress, and reach your financial goals faster.
When you’ve got a mortgage, it’s easy to set it and forget it. But just like regular car servicing or dental check-ups, reviewing your mortgage each year can make a big difference. A yearly review with your mortgage adviser can uncover opportunities to pay off your loan faster, reduce interest, or adjust your structure to suit changes in your life.
Here are five key things our advisers at Stephanie Murray Mortgages recommend checking each year:
1. Revisit Your Life Goals
Your mortgage should support your life—not hold you back. Take a moment to think about where you are now and what’s coming up. Are you planning to:
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Start or grow your family?
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Change jobs or move cities?
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Take on renovations or build your dream home?
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Invest in a rental or holiday home?
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Pay off your mortgage before retirement?
Whatever your goals, we can help tailor your home loan structure to support your plans.
2. Check Your Fixed Rate Expiry
One of the best times to review your loan is when your fixed rate is about to expire. This is when you can make changes without facing break fees. Whether you want to re-fix, go variable, or restructure into multiple terms, planning ensures you're not caught off guard—and you get the best deal available at the time.
Tip: Set a calendar reminder for a month before your fixed term ends so you’ve got time to weigh up your options.
3. Review Your Repayments
Even small tweaks can make a big impact. Could you:
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Round up your payments slightly?
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Switch to fortnightly payments (and make two extra per year)?
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Make a one-off lump sum repayment?
These changes can shave years off your loan and save you thousands in interest. Our advisers can help you run the numbers and check if your lender allows early repayments without penalties.
4. Give Your Loan Structure a Health Check
Your original mortgage setup might not suit your current needs. Maybe you want more flexibility with a floating portion or more certainty with a fixed term. Perhaps you’d benefit from splitting your loan across different terms or setting up offset accounts to reduce interest.
Our team can review your structure and recommend options that balance flexibility, security, and savings.
5. Don’t Forget Insurance
Your mortgage is one of your biggest financial commitments—make sure it’s protected. If something unexpected were to happen, having the right insurance in place can ensure that you and your family stay financially secure.
Consider reviewing:
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Life & Trauma Insurance
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Mortgage Repayment or Income Protection
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Health Insurance
Our advisers—like Michelle Lindsay—can help you look at options and tailor coverage that fits your needs and budget.
Book Your Free Mortgage & Insurance Review
Whether you’re a first-time home buyer or a seasoned property investor, an annual review is a smart move. At Stephanie Murray Mortgages, our advice is free, and we work around your schedule—including evenings and weekends.
Let’s make sure your home loan still works for you.
Book a free review today.