Are you paying too much for your home loan?

The Reserve Bank has been dropping rates, but have the savings actually reached you? If you haven’t checked your home loan in the last year, chances are you’re handing your bank extra money for no reason. Beaches COVERED caught up with Sam Ayliffe from Astute Manly to find out how to change that, and how a simple review could save you thousands.

A Small Rate Cut, a Serious Saving
Refinancing isn’t just about reducing your monthly repayments. The real impact is in the long-term interest saved, often tens of thousands of hard-earned dollars over the life of your loan. Here’s a snapshot of what a drop from 6.0% to 5.5% could mean over 25 years*:
Loan Size | Interest Saved
$500,000 | $45,000
$750,000 | $68,000
$1,000,000 | $90,000

That’s real money that could fund a long-overdue renovation, pay for an investment, or simply ease the financial pressure.

Not All Lenders Pass on the Savings
Even when the RBA cuts rates, some lenders hold back. So while the news might suggest cheaper loans, your rate may still be stuck where it was. Astute Manly offers a no-obligation review to check if your current rate is still competitive. If it’s not, their team will help you find a better option tailored to your needs.

EOFY Is the Right Time to Reassess
Whether you’re wrapping up the current financial year or stepping into the new one, it’s a smart time to take stock. Astute Manly’s expert Finance Brokers can assess your needs and clarify your options, wherever you are in the cycle.

Wrapping Up the Financial Year
With June 30 fast approaching, now’s the perfect time to optimise your personal and business finances before the clock resets. A strategic review could uncover valuable savings, potential tax benefits, overlooked deductions, or smarter, more flexible finance options tailored to your goals.

The Questions to Ask Yourself
For Individuals:
• Has your bank passed on recent RBA rate cuts?
• Do your loans align with your short and long-term goals?
• Can you reduce debt faster or structure repayments more effectively?
• Are you planning a renovation, an investment property, or the purchase of a new car?

For Business Owners:
• Are you planning to borrow in the next 12 months?
• Do you need equipment upgrades, or could early purchases benefit your tax position?
• Is it time to review business insurances or explore Insurance Premium Funding to help manage cash flow?

Astute Manly is here to guide you through, offering tailored finance solutions to help you make the most of every opportunity.

To get in touch, call Sam on 0414 976 865 or email manly@astutefinancial.com.au. •

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