In the mean time if you are hunting for a new loan, ask your mortgage broker about the various banking/home loan package deals available. Many packages offer savings of up to .7% on standard variable loans and lines of credit. The catch is the annual fee, which sometimes is in excess of $350. However when you consider the savings in transaction account fees and loan interest if you are borrowing more than $250,000 you should be well ahead.

Before you dump your current lender, It would be judicious to inquire about transferring your existing home loan to a package with them. You could save thousands in fees and charges generated by a transfer of lender. I would also consider using some mortgage checking software to check the accuracy of your loan and credit card statements before you cast your current lender adrift. Please also read your current loan documents and try and get an understanding of what you currently have.

Be careful what you wish for? The chances are you will get it!