Does 1% p.a. make a difference?

As a general statement Australians tend to be lethargic in reviewing their Home Loan once it has settled.  It generally takes another ‘trigger’ event, such as changing homes or renovating before we consider if there is a better loan option available.

Does this mean that many Australians are paying more interest on their home loans than they need to?  I would say in many cases this is definitely the case.

So lets consider a hypothetical couple called Bill & Beth.

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