Why do annual reviews miss savings?

Rates and lender offers move continuously. A gap big enough to justify refinancing can open at any point in the year and partially close again before an annual review date arrives.

What should a loan review actually check?

Your current rate versus new-customer offers for your profile, your equity position, whether your loan features still fit, and the net first-year saving of the best refinance alternative after switching costs.

Knowledge base / Monitoring

How often should you review your home loan rate?

Q: How often should you review your home loan rate?

At minimum once a year, and additionally after events that shift the maths: RBA cash rate changes, your fixed term approaching expiry, a jump in your property's value, or a change in your finances. Continuous monitoring removes the need to remember.

Secure Finance · Monitoring · Updated July 2026

At least once a year — and immediately after trigger events like RBA rate changes, an approaching fixed-rate expiry, or a jump in your equity. Better still, don't schedule reviews at all: continuous monitoring catches savings whenever they appear.

The annual review is the floor, not the ceiling

Twelve months is long enough for the loyalty tax to open a meaningful gap between your rate and new-customer pricing, and short enough that reviewing feels manageable. If your rate hasn't been reviewed in over a year, treat that as overdue. But a fixed annual date has an obvious flaw: the market doesn't move on your anniversary.

Five triggers that warrant an immediate check

RBA cash rate movements. Lenders pass changes through unevenly — cuts often reach new customers faster than existing ones. A move is a natural comparison point.
Fixed rate expiring within 90 days. The revert-rate jump is one of the most expensive non-events in personal finance. See what happens at expiry.
Property value has risen. A lower loan-to-value ratio can unlock cheaper pricing tiers — your equity did the work; claim the discount.
Your circumstances changed. Income up, debts cleared, credit score improved — your borrower profile may now qualify for sharper pricing.
Aggressive market competition. Cashback waves and pricing wars come and go. Being reviewable when they arrive is what captures them.

What a proper review checks

Your current rate versus what a new customer with your balance and equity would be offered today.
The net first-year saving of the best alternative after switching costs — try the Rate Savings Calculator.
Whether your loan structure still fits — offset, splits, repayment flexibility.
Whether the saving clears a threshold that makes moving worthwhile. Rate Monitor's benchmark: $2,500 in the first year.

Or stop remembering, and automate it

The honest problem with review schedules is that life wins. That's the gap Rate Monitor closes: connect your loan once through Open Banking (or submit details manually), and Secure Finance keeps your rate under review continuously — contacting you only when you could save $2,500 or more in the first year, through your current lender or a refinance. No calendar reminders, no annual paperwork, no noise.

FAQ

Does reviewing my loan affect my credit score?

No. Reviewing and comparing costs nothing and touches nothing. Only an actual credit application creates an enquiry.

Is a review worth it on a small balance?

The smaller the balance, the harder it is for a rate gap to clear switching costs in year one — but it's still worth knowing where you stand.

Your last review was when, exactly?

Put your loan under continuous watch — free, no obligation.

Start free monitoring Check manually

General information only, prepared by Secure Finance Services Pty Ltd (ACL 465059). It does not consider your objectives, financial situation or needs.