We’re quick to book a doctor’s appointment if something feels off. We check our car before a long trip. Even our phones prompt us to update and refresh regularly. But when was the last time you checked in on your loans?
Much like your health, your financial wellbeing deserves regular attention. Whether it’s a home loan, personal loan, business facility or even asset finance, loans that once fit perfectly can drift out of alignment without you even noticing. Economic conditions shift. Interest rates change. Your lifestyle and business needs evolve. What worked 12 or even 6 months ago may not be the best fit for you today.
That’s why a loan health check is so valuable.
Why You Should Regularly Review Your Loans
Life doesn’t stand still, and neither does the lending landscape. Reviewing your loans regularly helps you stay in control, avoid unwanted surprises, and ensure your finance solutions are still serving your goals — not working against them.
Here are a few signs it might be time for a financial check-in:
• Interest rates have changed – If the Reserve Bank has moved the official cash rate (which has happened frequently in recent years), it could have impacted your repayments.
• Your financial goals have shifted – Maybe you’re planning renovations, growing your business, or just want to reduce your financial commitments faster.
• You’ve had a change in income or expenses – A new job, an expanding family, or a business restructure can all affect how your current loan structure suits your needs.
• You’ve been on the same loan for a few years – The finance market is competitive, and options evolve. Even if everything feels “fine,” there could be more suitable alternatives available today.
A loan review doesn’t necessarily mean changing lenders or products. It’s simply about understanding where you stand and identifying if your current structure is still aligned with your goals.
What a Loan Health Check Involves
At Force Finance South West, a loan health check is a tailored process. We take the time to understand your current commitments, financial objectives, and any upcoming changes you’re anticipating. From there, we assess your existing facilities against what’s available in the broader market — across home loans, commercial finance, asset loans and more.
This isn’t about pushing you toward a new product. It’s about giving you clarity and insight so you can make informed decisions.
Here’s what we look at during a loan health check:
• Your current interest rate and loan structure
• Any fixed or variable rate splits
• Offset or redraw features and how they’re being used
• Loan terms and flexibility
• Your repayment strategy and timeline
• Changes in your personal or business circumstances
• Availability of other suitable finance options
It’s a comprehensive review designed to empower you — not overwhelm you.
The Benefits of Staying Informed
Regular financial check-ins can help you identify whether you’re on track to meet your goals, and highlight opportunities to:
• Optimise your repayment strategy
• Adjust loan features for more flexibility
• Reduce the total interest paid over the life of the loan
• Align your facilities with current and future plans
It’s not about chasing the “cheapest” rate or the “fastest” process. It’s about ensuring your loan remains fit for purpose and supports your lifestyle or business ambitions.
Ready for a Check-In?
Just like you wouldn’t skip your annual check-up with the doctor, don’t overlook your finances. A small investment of time today could offer valuable insight — and peace of mind — for the years ahead.
If it’s been a while since you looked at your loan structure, or you’re just curious to see how things are tracking, we’re here to help. Book an appointment with the team at Force Finance South West and let’s take a closer look at your current setup.
We’ll work with you to explore options that reflect your goals and circumstances — with personalised guidance and a commitment to keeping things clear and transparent.
