Why Loyalty to Your Bank Can Quietly Cost You
Most of us like to think loyalty counts for something.
You stay with the same bank for years, make your repayments on time, don’t cause any trouble — and assume that must mean you’re being looked after.
Unfortunately, when it comes to home loans, that’s rarely how it works.
In fact, loyalty is often one of the most expensive habits homeowners have — not because they’ve done anything wrong, but because they never stop to check whether their loan still stacks up.
It Feels Easier to Stay Put
Let’s be honest — staying with your current bank feels comfortable.
Your loan works, the repayments go out, and nothing feels urgent. Changing banks sounds like paperwork, hassle, and time you don’t really have.
So most people stay put. Not because it’s the best option — but because it’s the easiest.
Your Bank Isn’t Checking If You’re Getting a Good Deal
A lot of homeowners assume their bank will reach out if a better rate becomes available.
In reality, banks don’t work that way. As long as your repayments are being made, there’s very little incentive for them to suggest a review.
From the bank’s point of view, everything is working just fine.
From your point of view, that silence can be costing you money.
New Customers Often Get the Best Deals
This is the part that catches people off guard.
Banks regularly offer sharper rates and incentives to attract new customers, while long-term customers quietly stay on older, less competitive products.
That means someone who took out a loan yesterday could be paying less interest than someone who’s been loyal for ten years.
It doesn’t feel fair — but it’s how the system works.
Small Differences Add Up Faster Than You Think
A slightly higher interest rate might not feel like a big deal month to month.
But over time, even a small difference can add up to thousands — sometimes tens of thousands — of dollars.
That’s the real cost of loyalty: not one big hit, but a slow drip of extra interest every single repayment.
Your Life Has Changed — Your Loan Probably Hasn’t
Think back to when you first took out your mortgage.
Your income, expenses, and priorities were probably very different. Many people earn more now, manage money differently, or have new plans for the future.
Yet they’re still using the same loan structure chosen years ago — simply because they never revisited it.
Loyalty often means staying in a loan that no longer fits who you are today.
Loyalty Can Limit What You Can Do Next
An outdated loan doesn’t just cost you interest — it can also hold you back.
Higher rates or inefficient structures can reduce borrowing capacity, making it harder to upgrade, renovate, or invest when the opportunity arises.
That’s when loyalty starts costing you options, not just money.
Refinancing Isn’t Disloyal — It’s Practical
Reviewing or refinancing your loan doesn’t mean you made a bad decision originally.
It simply means you’re checking whether your loan still deserves your loyalty today.
Markets move. Policies change. People grow. A loan that once made sense isn’t guaranteed to be the best option forever.
Why Talking to Chase Makes This Easier
Breaking away from blind loyalty starts with having the right conversation.
Chase Douglas has extensive experience in mortgage lending and helps homeowners understand whether staying with their current bank is still serving them — or quietly costing them.
Chase looks at the numbers, explains your options clearly, and helps you decide whether refinancing would actually make a difference — without pressure or jargon.
Is Loyalty Costing You?
If you haven’t reviewed your home loan in the last 12–24 months, there’s a good chance your loyalty is costing you more than you realise.
You don’t need to change banks to find out — you just need clarity.
👉 Book a refinance review with Chase Douglas and see whether your loan still deserves your loyalty.
Sometimes, the smartest move isn’t staying loyal — it’s staying informed.
