How Lowering Your Rate Could Save You Thousands Before Christmas

janet9362
1 day ago
2 min read

As 2025 draws to a close, many Bathurst and Lithgow homeowners are taking stock of their finances — and one simple change could put real money back in your pocket before Christmas: lowering your home loan rate.

With recent RBA rate cuts and strong competition among lenders, now is one of the best times in years to review your mortgage. Whether you’re a first home buyer or a long-term homeowner, getting a lower rate could mean saving thousands by the end of the year.

Why a Lower Rate Matters More Than You Think

Your interest rate directly determines how much you pay every month. Even a small drop — say, from 6.2% to 5.8% — can cut hundreds off your repayments.

For example:

On a $600,000 loan, reducing your rate by just 0.4% could save you around $140 a month — or over $1,600 a year.

That’s money you could put toward Christmas holidays, renovations, or simply easing the pressure on rising living costs.

And if you keep your repayments the same after refinancing, you’ll pay off your mortgage faster and save even more on long-term interest.

How to Secure a Lower Rate Before Christmas

The good news? You don’t need to wait for your bank to offer you a better deal — and you don’t have to switch lenders alone.

Here’s how homeowners in Bathurst & Lithgow are finding savings before the holidays:

1️⃣ Review Your Current Loan

Start by checking your interest rate. If you’ve had your mortgage for more than two years, there’s a good chance you’re paying more than necessary.

2️⃣ Compare Lenders

A mortgage broker in Bathurst and Lithgow can access over 30 lenders to find the most competitive lower rate available — including cashback offers and fee waivers.

3️⃣ Consider Refinancing or Negotiating

Sometimes the best savings come from moving your loan to a new lender. But even if you stay, your broker can negotiate a lower rate with your current bank on your behalf.

4️⃣ Keep Your Repayments the Same

By maintaining your previous repayment amount, you’ll pay off more principal and reduce your total loan term.

The Hidden Costs of Ignoring a Rate Review

It’s easy to assume your bank will automatically adjust your rate after an RBA cut — but that’s one of the biggest mortgage myths out there.

Many lenders pass on only part of the reduction (or none at all). Without reviewing your rate, you could be missing out on savings that add up to tens of thousands of dollars over time.

Another common mortgage myth is that refinancing is complicated. In reality, a broker can handle the paperwork, manage your application, and ensure the process is seamless — often within a few weeks.