How Sherlok works for homeowners Unhappy with your current home loan rate or think your bank can do better? You’ve come to the right place. Sherlok is an automated repricing tool used by the best brokers to help their clients – that’s you! – get a better rate on their current loans. This is how it works 1. Sherlok monitors home loan rates. As soon as we find a better rate for your current loan, we’ll contact the lender on your broker’s behalf to negotiate a lower rate with your current bank. 2. If your bank is happy to reduce your home loan rate, your broker will send you an SMS and an email to let you know the improved rate. There’s absolutely nothing you need to do. Sherlok and your broker will do all the work, and you’ll notice the savings within 30 days! 3. If your bank doesn’t want to reduce your interest rate, your broker – with help from Sherlok – will compare your rate against others in the market to see if there’s a lower rate. In other words, your broker does the refinance – we just use data to run a comparison to find you the best rate. If you’d like to know more about how Sherlok helps your broker find you the best rates, get in touch with your broker.