When Is the Right Time to Review Your Home Loan?
One of the most common questions homeowners ask is: “When should I actually review my home loan?”
Many people assume the answer is only when interest rates change or something feels wrong. But in reality, the right time to review your home loan often comes much earlier — and for more reasons than you might expect.
Reviewing your home loan at the right time can help ensure you’re not overpaying, missing out on better options, or holding yourself back financially.
If It’s Been More Than 12–24 Months
A good rule of thumb is to review your home loan every one to two years.
Home loan products, interest rates, and lender policies change regularly. A loan that was competitive a few years ago may no longer stack up today.
If it’s been more than 12–24 months since your last review, there’s a strong chance there may be room for improvement — or at the very least, peace of mind.
When Your Income Has Increased
If your income has grown since you first took out your mortgage, your financial position may be very different now.
A higher income can improve cash flow, borrowing capacity, and flexibility — but only if your loan structure supports it.
Reviewing your home loan after an income increase helps ensure your mortgage is working with your financial progress, not lagging behind it.
When Your Living Expenses Have Changed
Changes to your lifestyle often signal the right time for a review.
Whether you’ve paid off other debts, changed household expenses, or adjusted how you manage money, your loan may no longer be aligned with your day-to-day reality.
A review can help identify whether your repayments, structure, or features still suit your current situation.
When Your Property Has Increased in Value
Property values don’t stay static.
If your home has increased in value, reviewing your loan may reveal opportunities to improve your loan-to-value ratio, access better rates, or unlock future options.
Many homeowners don’t realise how much their property value has changed until they take the time to review their loan.
Before Making a Big Financial Move
Planning to upgrade, renovate, invest, or consolidate debts?
Reviewing your home loan before making a major financial decision helps ensure your current loan won’t limit your options.
Understanding your borrowing position early can save time, stress, and missed opportunities later.
When You’re Not Sure If You’re on a Competitive Rate
If you don’t know what interest rate you’re on — or how it compares to what’s available — that’s a clear sign it’s time for a review.
Banks don’t automatically move existing customers onto better rates. Without a review, it’s easy to quietly drift onto an uncompetitive loan.
When You Want Clarity, Not Guesswork
One of the most overlooked reasons to review your home loan is clarity.
Knowing whether your loan is competitive and well-structured removes the constant question of “Could I be doing better?”
Sometimes the outcome of a review is confirmation that your loan is already doing its job — and that certainty alone is valuable.
Why Timing Matters — And Why Chase Can Help
Reviewing your home loan at the right time can unlock meaningful benefits — but only if the review is done properly.
Chase Douglas has extensive experience in mortgage lending and helps homeowners understand when a review makes sense and what options are available.
Chase looks at your rate, loan structure, features, and future plans, then explains everything clearly so you can decide what’s right for you.
So, When Is the Right Time?
If any of the situations above sound familiar — or if it’s been more than a year or two since you last looked at your loan — now is likely the right time.
You don’t need to commit to anything to start the conversation.
👉 Book a home loan review with Chase Douglas and get clarity on whether your mortgage is still working for you — or whether it’s time for a better fit.
The right timing can make all the difference.
