Depending on your unique needs and circumstances it is highly probable that playing the "rate chase game" is counterproductive.

What we mean by this is that if you consistently change Lenders (that is start a new 30 year mortgage) simply to save a very small amount of interest and/or slightly reduce your repayments you are quite possibly falling into the following traps:

• Effectively turning your 30 year mortgage into a 40 year+ mortgage
• Staying in debt your entire working life
• Unnecessarily paying hundreds of thousands of dollars in additional interest, fees and charges

You also need to be aware that Mortgage Brokers (yes us too) and Banks have a vested interest in you switching loans regularly and staying in debt longer.

For the Broker it means additional opportunities to earn commissions and for the Bank it means more interest (profit). And ultimately you're paying for both.

Why, as a Broker, are we telling you this?  Because we believe in transparency and offering you a choice. The reality is many people are happy with the status quo and our on-line Brokerage offers genuinely discounted rates and a streamlined and convenient service. If that's you ~ then we'd be happy to assist you.

However, if anything on this page has got you thinking ~ you may want to visit the Independent Mortgage Planners website.

Please note Independent Mortgage Planners is a related entity.