Congratulations—your loan has settled and your property is officially yours! While it’s an exciting milestone, many homeowners aren’t quite sure what happens next.
Here’s what to expect in your first 90 days:
1. Your First Repayment
Your lender will notify you of your repayment schedule shortly after settlement. Make sure:
- Your direct debit is set up correctly
- You know your repayment dates
- You understand how much is going toward principal vs interest
2. Setting Up Your Loan Features
If your loan includes an offset account or redraw facility, now is the time to activate and use them effectively. Even small balances in an offset account can reduce the interest you pay over time.
3. Finalising the Essentials
Don’t forget to:
- Arrange building and contents insurance
- Transfer utilities into your name
- Notify your local council for rates
4. Get Organised Financially
Now is a good time to:
- Create a household budget
- Build an emergency buffer
- Review your insurances and overall financial plan
5. Stay in Touch
Your circumstances may change, and so can your loan suitability. We recommend a quick check-in every 12 months to ensure your loan still meets your needs.