24% of Mortgage Holders want to Change Loans
A recent study by Mortgage Choice has revealed that one quarter of us want to change home loans.
24% of Australian mortgage holders are currently looking around for cheaper, more affordable home loan products, and are in the process of looking at a range of options for refinancing the loan that they currently have.
Of those who said they were currently considering refinancing their home loan, 36% have only had their current loan for four years or less.
Belinda Williamson, Head of Corporate Affairs at Mortgage Choice, said she’s not surprised with the figures, as in their survey they discovered that 45% of those questioned admitted that they would change to a less expensive loan.
While 19% of respondents said they wanted to look for ways to reduce their home loan fees, 21% said they wanted to consolidate their debts and 22% said they were thinking about refinancing their current home loan.