Tips and Tricks to Know When It’s Time to Change Your Home Loan
Most homeowners don’t wake up one day and decide to change their home loan.
Instead, it’s usually a slow realisation — a feeling that things have moved on, but the loan hasn’t. The good news is you don’t need to overhaul everything to work out whether change makes sense.
Here are some practical tips and tricks to help you recognise when it might be time to change your home loan — and how to approach it without stress.
Tip 1: If You Haven’t Looked at Your Loan in Years, Start There
One of the simplest indicators is time.
If you haven’t reviewed your home loan in the last 12–24 months, there’s a strong chance it’s no longer competitive. Rates, products, and lending policies move constantly — but loans don’t update themselves.
A quick review can often reveal whether staying put still makes sense.
Tip 2: Don’t Assume Your Bank Will Fix It for You
Many homeowners assume their bank will contact them if a better deal becomes available.
In reality, banks rarely initiate reviews for existing customers. As long as repayments are being made, there’s little incentive for them to suggest change.
If you want to know whether your loan is still working for you, you usually need to ask.
Tip 3: Pay Attention to Cash Flow, Not Just Rates
Interest rates matter — but they’re not the only thing to look at.
If repayments feel tighter than they should, or you’d benefit from more flexibility, your loan structure may no longer suit your lifestyle.
Changing your loan can sometimes improve cash flow without dramatically changing your overall repayments.
Tip 4: Check Whether Your Life Has Outgrown Your Loan
Think about how much your life has changed since you first took out your mortgage.
Higher income, different expenses, family changes, or new goals can all signal that your loan needs to evolve too.
A loan that worked five or ten years ago isn’t guaranteed to be the best option today.
Tip 5: Small Changes Can Have Big Long-Term Impact
You don’t need a dramatic difference for change to be worthwhile.
Even a small reduction in interest, improved features, or a better structure can add up to meaningful savings over time.
What feels minor month to month can make a big difference over the life of the loan.
Tip 6: Don’t Let Comfort Stop You From Exploring
Staying with the same bank feels familiar — and that comfort keeps many people from reviewing their loan.
But comfort doesn’t equal value. Exploring your options doesn’t mean you have to change — it just means you’re informed.
Sometimes, knowing you’re already in a good position is the best outcome.
Tip 7: Changing Is Usually Easier Than You Think
One of the biggest misconceptions is that changing banks or refinancing is a hassle.
In reality, most of the process is handled for you — applications, valuations, and settlement all happen behind the scenes.
For you, it’s often just a conversation and some paperwork.
Tip 8: Timing Matters — But Waiting Rarely Helps
Many homeowners delay reviewing their loan because they’re waiting for the “perfect time”.
In most cases, waiting simply means paying more interest for longer.
Reviewing your loan now gives you clarity, even if you decide not to act immediately.
Why Talking to Chase Makes Changing Easier
Knowing it’s time to change is one thing — knowing how to change is another.
Chase Douglas has extensive experience in mortgage lending and helps homeowners understand whether changing their home loan makes sense based on their current situation.
Chase reviews your loan objectively, explains your options in plain English, and manages the process end to end if a better fit exists.
Is It Time for You to Change?
If any of these tips resonated — or if you’ve been wondering whether your home loan could be doing more for you — it’s probably time to check.
You don’t need to commit to anything to take the first step.
👉 Book a home loan review with Chase Douglas and get clarity on whether staying put still makes sense, or whether it’s time to change.
Sometimes, the smartest change starts with a simple conversation.
