When done right, switching home loans can produce significant financial benefits -- but you need to properly understand the consequences of moving to another mortgage. So, as we head into the final hours of the big Switch & Save home loan sale, here's our handy list of the top 5 traps to avoid -- to make sure you're a savvy switcher.
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Australian banks have been quietly bumping up interest rates in recent months, tightening the already-strained budgets of many mortgage holders. Alternative home loan options are out there, but many aren’t taking the extra step to switch lenders. Enter Australia's biggest home loan sale event -- now underway for 40 hours from 6am Monday May 8. Reduced rates, waived fees, exclusive deals. Here's how to start saving.