Nadine Higgins

We'll be right back after this.

Welcome back to The Prosperity Project.

We're talking about how to approach your mortgage in a rising interest rate environment with Adam from Squirrel because that's what we're heading into and some of the banks are just incrementally starting to increase their rates already.

But what I want to ask about is cashback.

It feels like this magical money from the sky that you can get by switching banks.

And sometimes they compete really hard for new business and sometimes they don't.

What's the state of play at the moment?

Interchange, yeah.

Whereas if they had to go out and replace you as a customer tomorrow, they'd give that person 0.9.

It's huge.

Yeah.

Do you find that some people, and I know I found this with my clients, is that they're kind of like, oh, that is hard work.

That's a lot of paperwork.

And I know it's a lot of money, but if they don't have the time for life admin, they do not have the time for life admin.

okay, that's the maths that people need to hear, right?

That's a great way to spend your time.

Really, are there enough benefits outside of the cash to stay or go for?

If we're going to do the admin, let's make it worth it.

Yeah, well, then there's another re in there.

There's the refix, the refinance, but also the restructure, which I think is an important one.