The home hack you need to save up to $1300 on your mortgage

Did you know that Aussies are wasting around $4.2 billion each year on unnecessary home loan interest? A brand-new service seeks to reduce the cost of your repayments.

With 53 per cent of homeowners unsure of their current interest rate, and almost 60 per cent never asking for a better deal, uno Home Loans is on a mission to cut down on financial wastage in the home loans sector.

The uno Household Financial Waste Report revealed that expenses such as mortgage repayments are often overlooked by consumers, even when trying to be more financially savvy.

“Most homeowners purchase or refinance their home feeling confident they’re on a good rate – and they usually are. The cracks only begin to show a few years down the track, by which time consumers no longer think about their home loan as something they should be fighting to get a good deal on,” says Anthony Justice, CEO of uno Home Loans.

What can you do about it?

uno Home Loans has announced the introduction of its new Active Home Loan Management service, which will be acting in the best interests of home loan customers.

This service will proactively manage the home loans of Australians on their behalf, so we don’t have to worry about it.

“uno wants to help Australians get a great deal upfront and make sure their home loan is as healthy as it can be for the life of the loan,” says Anthony.

“We now have the technology to analyse the market daily and alert customers when we find a deal that they would consider worth switching for. We’re also focused on highly qualified brokers making the process as simple as possible.

"For example, we’ll help customers negotiate with their existing lender if that’s the best balance between saving money and the effort required to get a better deal,” he explains.

How much can you save?

This really depends on where you live and the size of your loan, but the report details the potential average first-year savings per household:

• NSW - $1,300
• VIC - $1,200
• QLD - $1,000
• WA - $1,100
• SA - $800
• TAS - $800
• ACT - $1,300
• NT - $1,200

The best part? The Active Managed Home Loan Service is available at no cost to both existing customers and the wider market, so why not give it a whirl?

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