I worked inside the banking system for over a decade. Here is what they never told you.
If you take nothing else from this page, take this one fact: your bank runs two pricing books. One for new customers. One for loyal customers. The loyal one is more expensive. By design.
For more than ten years, I worked inside the Australian banking system. I saw the spreadsheets that compared the "new customer" rate to the "back-book" rate. I sat in the meetings where someone in head office calmly decided how much more loyal borrowers should be charged this quarter, because they were less likely to leave.
It was not malicious. It was just maths. A loyal borrower has a higher "cost of switching" so the bank can charge them more and most of them never check. The margin pays for the new customer acquisition discounts. The whole system is built on the assumption that you will not look.
That is the reason KTD Home Loans exists. We are paid by the lender once your loan settles, never by you. So our incentive is to find you the deal that is genuinely best for your situation, not the one the bank wants to sell you.
I built the free Rate Review Kit because the same back-book pricing scam is still happening every single day across Australia. The check takes 90 seconds. The intelligence inside the kit is worth $1,795 if you were buying it elsewhere. I am giving it away because the more Australian families know about this, the less leverage the banks have over them.
Talk soon,
Kunga