Should I ask for a mortgage rate review on a single income now?

K

KavokMonasWarriors30

New Member
Men… wife and I have a 417k mortgage – est property value is 890k. When we first went with Suncorp… we applied with two incomes and 10% deposit.

We are currently on 6.6% – and currently on single decent income of 90k per year with minimal expenses. Is it worth asking for a rate review now that we've gone two a single income – or am I better off waiting until wife lands a role – even part time – then apply for teh review?

Mortgage is 49% of income – but we're still able to save. I would just prefer more left in our pockets.

Cheers!
 
Ask for a rate review. They won't do servicing unless you change the loan type. Get a good broker who can handle this. Many have 50+ options. Let me know if you get stuck.
 
Rate reviews don't require you to disclose employment status. You just disclosed that St.George variable is 6.04% with a Coparison rate of 6.05% and bluff it. You should be able to get at least 0.25% off given paying considerably more than today's rate from St.George.
 
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