Give your home loan a health check in 2021

When you took out your home loan with 1st Street, we would have ensured you had a competitive rate at the time. But a lot can change in a small amount of time. Just look at the past year we have been through.

The Reserve Bank of Australia cut the official interest rate not once, but three times in 2020. As a result, it now sits at a historic low of 0.10%. In response, lenders slashed their home loan rates, causing rates to plummet to all-time lows.

Unbelievably, some home loan fixed rates now start with a ‘1’!

So there’s a chance your home loan is no longer market-leading. What’s more, Australia’s mortgage market is extremely competitive with lenders fighting hard for your business. So, alongside the ultra-low rates, some lenders are even offering cashback deals and other incentives to sweeten the deal.

Of course, special offers shouldn’t be the main reason you refinance. That honour goes to your potential savings and remaining in a suitable loan product.

You could save tens of thousands of dollars.

Refinancing to a new loan could potentially save you tens of thousands of dollars over the life of your loan. That’s because seemingly small differences in rates quickly stack up over time.

For example, say you have $400,000 left on your mortgage. You got what was a competitive deal on a home loan three years ago and are currently paying 3.60% interest:

  • Monthly repayments = $2,024.01
  • Interest charged over the 25-year life of the loan = $207,203

Switch to a loan that’s just 50 basis points lower at 3.10% and your monthly repayments would drop by just over $100 a month. More importantly, the total interest you’d pay over the life of the loan would be over $31,000 less.

Yes, really.

What about 100 basis points lower? Pay a rate of 2.60% and your savings are even more astounding:

  • Monthly repayments = $1,814.68
  • Interest charged over the 25-year life of the loan = $144,403
  • Total saving = $62,800

Imagine what you could do with that money.

Remember, there are some extremely low rates around. And the bigger the difference you score, the more you’ll save and the lower your monthly repayments will be.

That’s why you need to give your home loan a health check in 2021.

Want to see how much you could save? Use our home loan comparison calculator.

Not all loans are created equal.

While interest rates do matter, they are not the be-all-and-end-all of home loans. The right home loan for you needs to tick all the boxes in terms of your financial needs, circumstances and goals.

That’s why you should get advice from your 1st Street mortgage broker. We will give your home loan a thorough health check and help you assess all your options.

At 1st Street, we’re not just the best local mortgage brokers – we were also Australia’s number one brokerage in the country for 2020.

Speak to your 1st Street mortgage broker today to give your home loan the check-up it needs.

Our service is completely


Yes, that’s right. You pay zero, zip, nada.

1st Street’s premium service comes at no cost to you! 1st Street is paid by the lender when your loan settles, however, this will not affect your interest rate or loan fees! It is often more cost-effective for a mortgage broker to process a loan rather than the lenders processing it themselves in-house. In fact, we often find that we can save you money by negotiating on your behalf.

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your numbers

Use our online calculators to work out how much you can borrow, loan repayments, stamp duty and lots more.

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With 40+ lenders to choose from, the options are never ending!

A word from our satisfied customers

Maxine Zhong
Maxine Zhong
19 October 2023
Amanda has been such an incredible support throughout our very first time going through the home loan process. Her thoughtfulness to regularly check in to make sure all our questions were answered and that all our documents were in place helped to make the whole daunting process feel seamless and easy. I could not recommend her enough - she made sure to keep us informed every step of the way and made sure all necessary documents/processes were completed well ahead of time so we never had to worry about missing any steps. She went well above and beyond her role, and I know we will definitely be coming back to her in the future, as well as recommending her to all of our networks! Thank you again, Amanda!
Mark Nesbitt
Mark Nesbitt
11 October 2023
Greg and the team provide an outstanding service. Highly recommended
Christine Tran
Christine Tran
23 September 2023
Yuval handled my first ever home loan, he did such an amazing job I asked to him to refinance for me 2 years later. Yuval made everything very easy for me, and will give his best recommendation as if it was his own. Would always recommend Yuval :)
David Petrini
David Petrini
25 August 2023
Yuval Bloomfield was an absolute delight to work with. He made it extremely easy for my clients to discuss about their financial situation. With Yuval's strong connections he was able to get the loan my clients wanted in very quick time. Will definitely refer Yuval again.
Sophie Linehan
Sophie Linehan
24 August 2023
Greg and the team at 1st Street were fantastic all the way through the process of getting our financing sorted and buying a new home. They not only secured us the most competitive mortgage in the market but they also gave advice on a number of mortgage-adjacent questions that came up along the way. Their responsive and thoughtful guidance helped make the nail-biting process clear and calm. We would definitely recommend their services.
Gabrielle Scott-Jones
Gabrielle Scott-Jones
18 August 2023
Greg and his team gave me exceptional advice and support. They were timely and detailed in their responses and dealt patiently with me as a first home buyer and all of my questions. The lender at the bank commented on how well I was being looked after compared with other brokers in the market. I’d highly recommend 1st Street to anyone, including friends and family.
Eli Simic
Eli Simic
15 August 2023
Great communication and fast service
Richard Kuipers
Richard Kuipers
11 August 2023
Jeremy and his team are superb. Negotiated the best deal for us and were an absolure pleasure to work with. Highly recommended, you can't do any better in my opinion.
Jordan Rivkin
Jordan Rivkin
1 August 2023
The team at 1st Street truly are professionals. I can't recommend Jeremy highly enough, he is extremely competent and just a great guy. You're in safe hands with 1st Street!
Yossi Bengida
Yossi Bengida
23 July 2023
Another amazing job by David and Bree. Always available for our questions, helpful and just 10/10 Seriously good work !! See you on the next one :) Yossi and liz