[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/truthgroup.com.au\/2024\/12\/26\/if-you-think-your-bank-is-ripping-you-off-you-are-probably-right\/#BlogPosting","mainEntityOfPage":"https:\/\/truthgroup.com.au\/2024\/12\/26\/if-you-think-your-bank-is-ripping-you-off-you-are-probably-right\/","headline":"IF YOU THINK YOUR BANK IS RIPPING YOU OFF, YOU ARE PROBABLY RIGHT.","name":"IF YOU THINK YOUR BANK IS RIPPING YOU OFF, YOU ARE PROBABLY RIGHT.","description":"Is my Bank Overcharging Me? Watch this video on YouTube. A 30 Minute Online Mortgage Makeover Will Show You Exactly How Much Extra You Have Been Paying And How To Put That Money Back In Your Pocket.\u00a0 ACCC tells mortgage borrowers to switch banks An inquiry conducted by the&nbsp;Australian Competition &amp; Consumer Commission (ACCC) found ... <a title=\"IF YOU THINK YOUR BANK IS RIPPING YOU OFF, YOU ARE PROBABLY RIGHT.\" class=\"read-more\" href=\"https:\/\/truthgroup.com.au\/2024\/12\/26\/if-you-think-your-bank-is-ripping-you-off-you-are-probably-right\/\" aria-label=\"Read more about IF YOU THINK YOUR BANK IS RIPPING YOU OFF, YOU ARE PROBABLY RIGHT.\">Read more<\/a>","datePublished":"2024-12-26","dateModified":"2024-12-26","author":{"@type":"Person","@id":"https:\/\/truthgroup.com.au\/author\/nicholasparpistruthpropertycomau\/#Person","name":"Nicholas Parpis","url":"https:\/\/truthgroup.com.au\/author\/nicholasparpistruthpropertycomau\/","identifier":216551164,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/f6058d552df68dbaf53120d13f9e89fc9834e3e1ba22039065b40df84bd9df29?s=96&d=identicon&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f6058d552df68dbaf53120d13f9e89fc9834e3e1ba22039065b40df84bd9df29?s=96&d=identicon&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Truth Group Pty Ltd.","logo":{"@type":"ImageObject","@id":"https:\/\/truthgroup.com.au\/wp-content\/uploads\/2025\/10\/hero-logo-1-e1762756174980.png","url":"https:\/\/truthgroup.com.au\/wp-content\/uploads\/2025\/10\/hero-logo-1-e1762756174980.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/i0.wp.com\/truthgroup.com.au\/wp-content\/uploads\/2024\/12\/image-8.png?fit=1024%2C768&ssl=1","url":"https:\/\/i0.wp.com\/truthgroup.com.au\/wp-content\/uploads\/2024\/12\/image-8.png?fit=1024%2C768&ssl=1","height":768,"width":1024},"url":"https:\/\/truthgroup.com.au\/2024\/12\/26\/if-you-think-your-bank-is-ripping-you-off-you-are-probably-right\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos","name":"Is my Bank Overcharging Me?","description":"A 30 Minute Online Mortgage Makeover Will Show You Exactly How Much Extra You Have Been Paying And How To Put That Money Back In Your Pocket. \nACCC tells mortgage borrowers to switch banks\nAn inquiry conducted by the Australian Competition & Consumer Commission (ACCC) found that Australia\u2019s five biggest banks are charging loyal home loan borrowers significantly higher interest rates than new customers.\n\nThe ANZ, Commonwealth Bank, Macquarie Bank, NAB , and Westpac charged existing borrowers an average of 32 basis points more than new borrowers.\n\nA discount of 32 basis points for a $375,000 mortgage, equates to a saving of $1,200 in interest during the first year, according to the ACCC.\n\nThis is just one of the findings from the interim report of the Residential Mortgage Price Inquiry, which is being conducted by the ACCC under instruction from the federal government.\n\nDownload the original ACCC reports by filling in form by clicking here.\nBook your Online Mortgage Makeover Here https:\/\/share.hsforms.com\/14uSM1wxkQS6V2JCvq-7O_gbs9lb \n\nIn just 30 minutes I\u2019ll be able to tell you exactly how much money you could potentially put back in your pocket.\n\nhttps:\/\/truthgroup.com.au\/contact-truth-group-the-exclusive-buyers-agent-today\/\n\n#MortgageMakeover #propertygoals  #smartinvesting  #homeloanhelp  #mortgagesolutions  #PropertyBuyingMadeEasy #financetips  #investmentstrategy  #SaveOnLoans #dreamhomejourney  #LoanExperts #realestatetips  #MortgagePlanner #SmartPropertyMoves","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/T-rU6xsVGos\/default.jpg","https:\/\/i.ytimg.com\/vi\/T-rU6xsVGos\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/T-rU6xsVGos\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/T-rU6xsVGos\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/T-rU6xsVGos\/maxresdefault.jpg"],"uploadDate":"2024-12-26T05:56:05+00:00","duration":"PT4M11S","embedUrl":"https:\/\/www.youtube.com\/embed\/T-rU6xsVGos","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCl_CSrwS5ltS8cuq5VYEvxg#Organization","url":"https:\/\/www.youtube.com\/channel\/UCl_CSrwS5ltS8cuq5VYEvxg","name":"Truth Group Pty Ltd","description":"Welcome to Truth Group \u2014 where buying property and securing finance becomes simple, strategic, and stress-free.\nI\u2019m Niko, a licensed Buyers Agent and Mortgage Broker based in Sydney, here to help everyday Aussies make smarter property decisions.\n\nWhether you're buying your first home, investing, or need loan guidance, I break it down in clear, straight-talking videos.\n\nI help clients secure:\n\u2022 Established homes in high-growth areas\n\u2022 House and land packages\n\u2022 Commercial and mixed-use properties\n\u2022 Pre-approvals, refinance options & smart loan structures\n\nOn this channel, I share weekly tips on:\n\u2022 Buying strategies from a Sydney Buyers Agent\n\u2022 Mortgage planning & boosting borrowing power\n\u2022 Using a solid asset base to build wealth\n\u2022 Credit score & lender insights\n\n\ud83d\udccd Based in Hoxton Park \u2013 helping clients Australia-wide\n\ud83c\udf10 truthgroup.com.au | \ud83d\udcf1 Truth Group Pty Ltd on Facebook, LinkedIn & Google\nSubscribe now and let\u2019s get started.\n","logo":{"url":"https:\/\/yt3.ggpht.com\/0bYn-LN7lEmJEamUfHfCt1zo5YuZUz08PlGjcEoFWbe7cpd28E-tKPat4p5bIvQ5OfzsVXoPpXo=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=T-rU6xsVGos#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":11}]]},"about":["Latest Post"],"wordCount":382,"keywords":["#FinanceTips","#PropertyGoals","DreamHomeJourney","homeloanhelp","InvestmentStrategy","LoanExperts","MortgageMakeover","MortgagePlanner","MortgageSolutions","PropertyBuyingMadeEasy","RealEstateTips","SaveOnLoans","SmartInvesting","SmartPropertyMoves"],"articleBody":"Is my Bank Overcharging Me? Watch this video on YouTube.A 30 Minute Online Mortgage Makeover Will Show You Exactly How Much Extra You Have Been Paying And How To Put That Money Back In Your Pocket.\u00a0ACCC tells mortgage borrowers to switch banksAn inquiry conducted by the&nbsp;Australian Competition &amp; Consumer Commission (ACCC) found that Australia\u2019s five biggest banks are charging loyal home loan borrowers significantly higher interest rates than new customers. If you think your bank is ripping you off, keep reading.The ANZ,&nbsp;Commonwealth Bank,&nbsp;Macquarie Bank,&nbsp;NAB&nbsp;, and&nbsp;Westpac&nbsp;charged existing borrowers an average of 32 basis points more than new borrowers.IF YOU THINK YOUR BANK IS RIPPING YOU OFF, then a discount of 32 basis points for a $375,000 mortgage equates to a saving of $1,200 in interest during the first year, according to the ACCC.This is just one of the findings from the&nbsp;interim report&nbsp;of the&nbsp;Residential Mortgage Price Inquiry, which is being conducted by the ACCC under instruction from the federal government. If you think your bank is ripping you off, this information could be crucial.Download the original ACCC reports by filling in form by clicking here.Book your Online Mortgage Makeover HereIn just 30 minutes I\u2019ll be able to tell you exactly how much money you could potentially put back in your pocket. IF YOU THINK YOUR BANK IS RIPPING YOU OFF, contact us today.#MortgageMakeover #propertygoals #smartinvesting #homeloanhelp #mortgagesolutions #PropertyBuyingMadeEasy #financetips #investmentstrategy #SaveOnLoans #dreamhomejourney #LoanExperts #realestatetips #MortgagePlanner #SmartPropertyMovesShare this:\t\t\t\tEmail a link to a friend (Opens in new window)\t\t\t\tEmail\t\t\t\t\t\t\tShare on Facebook (Opens in new window)\t\t\t\tFacebook\t\t\t\t\t\t\tShare on LinkedIn (Opens in new window)\t\t\t\tLinkedIn\t\t\t\t\t\t\tShare on Pinterest (Opens in new window)\t\t\t\tPinterest\t\t\t\t\t\t\tShare on Mastodon (Opens in new window)\t\t\t\tMastodon\t\t\t\t\t\t\tPrint (Opens in new window)\t\t\t\tPrint\t\t\t\t\t\t\tShare on Reddit (Opens in new window)\t\t\t\tReddit\t\t\t\t\t\t\tShare on X (Opens in new window)\t\t\t\tX\t\t\t\t\t\t\tShare on Tumblr (Opens in new window)\t\t\t\tTumblr\t\t\t\t\t\t\tShare on Telegram (Opens in new window)\t\t\t\tTelegram\t\t\t\t\t\t\tShare on Threads (Opens in new window)\t\t\t\tThreads\t\t\t\t\t\t\tShare on WhatsApp (Opens in new window)\t\t\t\tWhatsApp\t\t\t\t\t\t\tShare on Nextdoor (Opens in new window)\t\t\t\tNextdoor\t\t\t\t\t\t\tShare on X (Opens in new window)\t\t\t\tX\t\t\t\t\t\t\tShare on Bluesky (Opens in new window)\t\t\t\tBluesky\t\t\t"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2024","item":"https:\/\/truthgroup.com.au\/2024\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"12","item":"https:\/\/truthgroup.com.au\/2024\/\/12\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"26","item":"https:\/\/truthgroup.com.au\/2024\/\/12\/\/26\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"IF YOU THINK YOUR BANK IS RIPPING YOU OFF, YOU ARE PROBABLY RIGHT.","item":"https:\/\/truthgroup.com.au\/2024\/12\/26\/if-you-think-your-bank-is-ripping-you-off-you-are-probably-right\/#breadcrumbitem"}]}]