5 Common Mortgage Mistakes Australians Make (and How to Avoid Them)
At Premium Select Finance, we’ve helped hundreds of clients across Australia avoid costly errors when applying for or reviewing their mortgage.
Here are the 5 biggest mistakes we see:
- Only on the interest rate:
A low rate looks appealing—but fees, structure, and features matter just as much. - Guessing your borrowing power:
Getting it wrong can lead to declined applications or missed opportunities. Know where you stand first. - Choosing the wrong lender:
Not all banks suit all borrowers. The right fit depends on your goals and circumstances. - Skipping pre-approval:
It’s like shopping without a budget—risky and stressful. - Letting your loan gather dust:
If you haven’t reviewed your loan in 2+ years, you could be missing out on big savings.