Just like with any relationship, your partnership with your home loan lender may see its honeymoon stage come to an end and those promises that once swept you off your feet no longer appeal to you. If you’ve been on the fence about whether or not your bank is still your true borrowing love, here are signs to consider before calling it quits.

1. They’ve Changed

At the start, your bank enticed you with a great interest rate and low fees but when you take a closer look at your home loan statement, your ongoing repayments seem to quickly creep up. Is it time to check out if the grass is greener on the other side? Find out what other deals home loan lenders are offering that can bring down your repayments and save you interest along the way.

2. You’ve Changed

Did your situation change? Your family might have grown, you might have received a promotion at work or you might have reduced your hours. Whether your household income or situation has taken a hit or improved significantly, it’s a chance that could necessitate a mortgage refinance. If you’re earning more, you can afford to up your repayments, however, you might wish to refinance if you’re earning less than before to decrease your mortgage repayments and ease any financial burden.

3. You Want Faster Result

A home loan is an incredibly serious affair. Though the term of a property loan isn’t with you your entire life, it’s there for a large portion of it. If you desire to get rid of your debt faster, you can shorten the term of your loan with a mortgage refinance. You may have to cough up more when it comes to repayments if you choose to cut your mortgage term from 25 to 20 years, but you’ll end up paying less in interest.

4. You Want Security

If you’re tired of the changing nature of variable rates, then it could be high time to refinance to a fixed interest rate loan where your repayments remain the same over the fixed term. Just keep in mind that often fixed interest rate loan come with break cost fees. So, only make this move if you’re 100% sure you’ll be sticking with the new loan for the entire fixed term, that usually takes 1-7 years.

5. You Want To Change Lenders

Perhaps your current lender just isn’t working for you — like limited mortgage products or you’re feeling neglected with the level of service you’re receiving — it might make sense to refinance. Check out other lenders’ product offerings to see if they have an extensive range of features. Visit their review section so you could have a feel of their customer service.