Loan anniversary
Every 12 months
Compare rate, fees, features, remaining term and whether the current lender can review pricing.Loan health check
Annual loan review
A yearly home loan review is maintenance, not a promise to refinance. Check whether the current loan still fits before a small drift becomes an urgent decision.
- Rate check
- Feature check
- Equity check
- Stay or switch
A yearly home loan review checks rate, fees, repayments, remaining term, features, equity, debts, income changes, fixed-rate expiry and upcoming property plans. MoneySmart says a yearly review can help you stay on a competitive rate and check whether features still suit your needs.
A year-in-the-life trigger calendar.
Put the review beside real events, not a vague reminder. Most reviews start because one of these timing points changes the cost, usefulness or risk of the current loan.
Rate or repayment change
When the repayment moves
Check whether the change is rate-driven, feature-driven, term-driven or a sign of broader pressure.Fixed or interest-only expiry
Three to six months before the date
Ask what happens after expiry and whether refix, variable, split or refinance options need comparison.Life or property plan
Before a contract or major spend
Flag renovations, investment, selling, buying again, parental leave, job change or new debts.Annual loan health check.
Keep the check short enough to repeat. The useful question is whether the current loan still fits or needs a broker review.
Rate and fees
Usually still fits
The rate, comparison costs and package fees still make sense for the loan size and features used.
Worth a closer look
The rate drifted, a package fee is no longer justified, or comparable options have moved.
Features
Usually still fits
Offset, redraw, split or extra repayment features are still being used in a way that offsets their cost.
Worth a closer look
Features are unused, restricted, expensive or missing for how the household now manages money.
Plans and pressure
Usually still fits
Income, debts, repayments and property plans still leave room for the current loan.
Worth a closer look
Repayments feel tighter, equity is needed, a fixed period is ending, or a major plan is coming.
The useful outcome can be no switch
A yearly review is not a yearly refinance.
An annual review is general information and preparation. It does not require you to refinance and does not replace lender assessment. The review should make the next action clearer, including staying put when the cost, timing or feature trade-off does not stack up.
Do not review only the rate
Fees, features, term, repayment type and switch costs can change the value of a lower advertised rate.
Do not reset the term casually
A longer term can lower repayments while increasing interest over time.
Do not ignore life timing
Sale plans, job changes, parental leave, fixed-rate expiry or major purchases can change the right next step.
Estimate the change before comparing.
Calculators are estimates only. Use them to see what may have changed, then check current-lender pricing, costs, documents and lender policy before acting.
CalculatorHome loan repayment calculatorTest whether a loan amount, rate, term, and repayment type feel workable before taking the numbers further.Best for: Checking repayment comfort across purchase, refinance, or rate-change scenarios.Estimate only. A broker still needs to check lender policy and fit.Open calculator
CalculatorEquity calculatorEstimate property value, loan balance and possible usable equity as a starting point only.CalculatorOffset calculatorEstimate how offset funds could affect interest, then check whether the feature fits your loan structure.CalculatorRefinance savings calculatorEstimate repayment difference, switch costs and break-even timing before a broker checks the full scenario.
Common questions
Questions borrowers ask about annual reviews.
Does a loan review mean I have to refinance?
No. A review may lead to staying with the current loan, asking for a rate review, restructuring, preparing documents or comparing refinance options.
What should I bring to an annual loan review?
Bring recent loan details, current rate, repayments, income changes, debt details, offset or redraw information and any plans for renovation, investment or moving.
Can existing emoney clients request a review?
Yes. Existing clients can use the review path to ask for a broker conversation about their current loan and upcoming plans.
How often should I review my home loan?
MoneySmart says a yearly review can help you stay on a competitive rate and check whether your loan features still suit your needs.
What can change between annual reviews?
Rate, fees, repayment pressure, feature use, income, debts, equity, fixed-rate expiry, property plans and lender offers can all change.
Should I ask my current lender for a better deal?
Often yes. MoneySmart suggests asking your current lender for a better deal before switching, then comparing any offer against the full cost and fit of alternatives.
Can the annual review outcome be to stay put?
Yes. Staying put can make sense when the current loan still fits, switch costs outweigh the benefit, or timing makes a change unhelpful.
Sources and further reading
General information only. It does not account for your personal circumstances. Guidance on this page was checked against official Australian sources:
- MoneySmart, Pay off your mortgage fasterChecked 4 July 2026
- MoneySmart, Switching home loansChecked 4 July 2026
- MoneySmart, Mortgage offset accountsChecked 4 July 2026
- MoneySmart, Using a mortgage brokerChecked 4 July 2026
Annual review
Bring the current loan. Check what changed.
Share your current rate, repayment, features and upcoming plans through Quick Check so a broker can pick up the annual review. General information and intake only. Any lending is subject to lender assessment.