PHOTO: The property market has been changing. Picture: Jonathan Ng Source: News Corp Australia
Aussie property owners are wasting about $900 a year on unnecessary home loan payments by failing to seek out a better rate.
The financial waste totalled an estimated $4.2 billion annually, with NSW homeowners accounting for just over a quarter of the unnecessary spending, according to a report from Uno Home Loans.
The report revealed home loans were one of the key drivers of financial waste for Aussie households, dwarfing the costs of unused gym memberships and standby energy costs — the electricity drained by appliances not in use.
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More than $1.8 billion was spent on unused gym memberships, $1 billion on standby energy costs and $550 million in bank exception fees.
READ MORE VIA NEWS.COM.AU