If your home loan is still sitting above 6%, you are not being rewarded for loyalty—you are subsidising your bank’s profits.
We recently reviewed the case of a client with a balance of $765,000. They had been stuck on an interest rate of 6.89% for months without realising that better options were available in the market. Their monthly repayment was draining household cash flow, yet the bank never contacted them with alternatives.
After conducting a financial health check, we helped them refinance to 5.99%. The outcome was immediate:
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Monthly repayments dropped by $480
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Annual savings reached nearly $5,800
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Over 10 years, the projected savings exceeded $57,000
This was achieved without changing their lifestyle, extending their loan term, or taking unnecessary risks—just by refusing to accept the rate their bank had quietly left them on.
Why This Happens
Banks are under no obligation to notify existing customers when better deals become available. In fact, new borrowers are often offered more competitive rates while long-term customers continue paying higher margins. The longer you delay a review, the more money you effectively hand over to the bank.
What You Can Do
If your mortgage rate starts with a “6”, it’s time to ask a serious question: how much are you overpaying? Even a half-percent reduction can create thousands of dollars in savings every year. Those savings can be redirected into paying down your loan faster, investing, or simply reducing financial pressure on your household.
At SW Global Finance, we provide a free financial health check to identify whether refinancing could benefit you. It costs nothing to review, but doing nothing could cost you tens of thousands of dollars over the life of your loan.
Final Word
Loyalty is expensive when it comes to mortgages. If you want your money working for you—not your bank—it starts with reviewing your loan.
Call/WhatsApp: +84 96 275 92 07
Email: support@sw-globalfinance.com.au