homeowners could save thousands of their home loans each year by asking one simple question, experts say.
New research from mortgage software company Sherlok has revealed banks will cut, on average, close to half a per cent from mortgage rates if asked.Almost a million households are yet to feel the full impact of the Reserve Bank's barrage of interest rate hikes. "People should be doing this every 11 months. So 11 months since their loan settled or 11 months from the last time they negotiated with their lender."and other living expenses than what they earn.
"Obviously you have seen a massive increase, more than $10,000 from the low point but nevertheless that saving will be welcomed," he said. Economists have told 9News the Reserve Bank rate cuts expected this year could be delayed as inflation remains a concern. "The debate at present isn't so much around whether we will get rate cuts but when they will happen," Oliver said.The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs.