The Most Expensive Mortgage in Australia is the One You Don’t Question

But that's the way we've always done it.

Let me ask you something straight:When was the last time you seriously questioned your mortgage?

Not just glanced at the interest rate and shrugged. Not just assumed the bank must be looking after you. I mean really questioned it.

For most Australians, the answer is: never.

And that’s a problem. Because the most expensive mortgage in this country isn’t the one with the highest advertised rate. It’s the one quietly draining money from your pocket while you do nothing.

Loyalty is a Costly Illusion

Banks are brilliant at one thing: convincing you that loyalty is rewarded. Stay put, don’t rock the boat, and you’ll be looked after. It’s a comforting story — but it’s a lie.

In reality, new customers often get better deals than long-standing ones. The very people who’ve been paying faithfully for years are subsidising the discounts offered to newcomers. And the banks count on you not noticing.

Every month that ticks by without review, without a question, is another little donation to the bank’s bottom line.

The Power of One Question

Here’s the kicker: you don’t need to know all the tricks of the trade. You don’t need to be an economist or a finance whiz. You only need to be willing to ask one question:

“Is this still the best setup for me?”

That single question, asked at the right time, can save you tens of thousands of dollars over the life of a loan. And yet, most borrowers will never ask it. Why? Because the system is designed to make you feel like it’s all too complicated. Like it’s safer to sit tight.

Confusion Is Expensive

Debt in itself isn’t the villain. Confusion is.

When people don’t understand how offsets, redraws, loan terms, and refinancing actually work, they freeze. They avoid the subject. They let inertia win. And inertia is very expensive.

Think about it this way: if you found out your electricity provider had been charging you double what you should’ve been paying for the last three years, you’d be on the phone in a heartbeat. But for some reason, when it comes to mortgages, the biggest expense most Australians will ever have people stay silent.

Questioning A Mortgage Pays

I’ve seen clients save hundreds each month just by restructuring or moving their loan. I’ve seen others shave years off their mortgage without paying a cent more than they were already paying. And I’ve also seen people stay put for decades, handing the bank an unnecessary fortune because they never bothered to check.

It doesn’t matter whether you’re a first-time buyer, refinancing, or investing. The principle is the same: your mortgage should be questioned, challenged, tested.

Time to Flip the Script

The banks don’t want you to think this way. They want you calm, comfortable, and quiet. But you don’t get ahead by being quiet. You get ahead by asking the awkward question, by not accepting the default, by flipping the script.

So here’s my challenge to you: don’t be the silent donor to your bank’s profit margins. Be the one who asks, “What else is possible?”

And if you’re not sure where to start, that’s exactly where we can help. Our role isn’t just to find you a loan. It’s to ask the questions you don’t even know to ask, the ones that uncover options, savings, and strategies you’ve been missing.

Because the most expensive mortgage in Australia isn’t the one with the highest rate. It’s the one you never question.

So when’s the last time you really looked at yours?

Andrew Nott