Sherlok RateTraker is a smart, hassle-free solution for homeowners who want to make sure they're always getting the best interest rate on their home loan. By utilizing secure open banking technology, RateTraker keeps an eye on your mortgage 24/7, automatically tracking your interest rate. Whenever your rate becomes uncompetitive, it alerts your broker, so they can act quickly and negotiate a better deal for you. This proactive service saves you from worrying about overpaying or missing a potential rate change.
How it works:
Secure Loan Connection: Connect your home loan to RateTraker securely using open banking technology.
Automatic Rate Monitoring: RateTraker constantly tracks your rate, notifying your broker when it’s time for a review.
Proactive Alerts: Your broker gets alerted whenever your rate becomes uncompetitive, so they can ask for a discount from your current lender.
Why it’s beneficial:
Stay in Control: You’re always in control, with no need to constantly check your rate. RateTraker ensures your broker is on top of it.
Save Money: By automatically monitoring your rate, RateTraker helps you avoid overpaying and ensures you’re always on the most competitive rate.
Expert Support: Your broker stays proactive, offering expert support and peace of mind knowing they’re looking out for your best interests.
Safe, Secure, and Transparent: Sherlok RateTraker uses Consumer Data Right (CDR) technology for the highest security, ensuring that your loan data is protected with end-to-end encryption. You have full control over what’s shared and can rest easy knowing that only read-only access is provided, meaning your broker can only see your interest rate and cannot make any changes to your loan.
With RateTraker, you get the transparency, control, and expert support needed