Ever heard of the 'loyalty tax'?

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Multiple studies* have found that older mortgage holders typically pay a higher interest rate than customers on new loans. ⁣

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That's because banks try to attract newer customers with their best rates, but don't automatically extend those same rates to existing clients. ⁣

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A recent study** found that older customers of the big 4 banks pay an interest rate that is 0.91% higher than new customers – forking out an extra $70,000 over the life of a $500,000 loan. ⁣

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So if you'd like your lender to stop taking advantage of your loyalty, come speak to us today about refinancing. ⁣