02/09/2026
You might be paying Loyalty Tax on your mortgage without even realising.
New mortgage owners often receive up to 0.4 to 0.6% lower rates than loyal, years-long borrowers. Banks want to incentivise their new customers, but if you aren’t doing your research on competitive rates, you could be paying thousands of extra dollars on your mortgage.
The solution?
You can ask your bank to renegotiate your loan, citing lower interest rates for new customers or from competitor lenders. You can also simply compare your loan to current market rates, and refinance. 💸
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