How to switch mortgages

How do I begin switching home loans?

One of the most important factors to consider when switching your home loan is the interest rate, so you’ll want to approach a number of banks and shop around for the best interest rate available .

You’ll then need to submit an application, which includes certain relevent documents.

The basic documents are:

• Bank Statements
• A recent payslip if you’re permenantly employed
• 6 months recent payslips if you’re a commision earner
• And bond statements from the current bank
• Sectional Titles must have the most recent body corporate financles
• extra documentation may be requested.

IMPORTANT: Switching is only allowed after 6 months with your current bank.

• Important Sections >>
• How to switch mortgages
• Switching Costs
• Switching Requirements