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Aussies could save thousands with online lenders

Online home loan comparison service helps bridge the gap between customer service and technology.

If you could save thousands of dollars on your home loan, would you do it? Most Australians would say yes, but their actions say differently.

According to a Mozo survey, Aussie borrowers could save up to $3184 a year by switching to an online lender. However, unfamiliarity and lack of face-to-face customer service are keeping them away, and only 27 percent of those surveyed were willing to consider buying a home loan online.*

Being unfamiliar with online lenders is stopping borrowers from accessing better home loan deals. The reality is that many online lenders could pass on significant cost savings to consumers because they have fewer overheads than traditional banks.

Here’s How You Do It:

Step 1: Select your type of property below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

With so many lenders on the market, it’s understandable that home buyers are gravitating to familiar name-brands. A known quantity may seem more trustworthy than a lender you’ve never heard of, but that doesn’t mean it’s the best financial decision.

Two main reasons are cited for avoiding online lenders: a lack of familiarity and the absence of face-to-face customer service. Fortunately, there’s a new comparison service that strikes a balance between great value and convenience.

HomeLoansAustralia.com helps users compare home loans online by quickly searching a database of loans from Australia’s most trusted lenders. It’s an easy way to get a side-by-side snapshot of what’s on offer from the big banks and smaller lenders all in one place.

If you’ve got questions about a particular lender or loan offer, talk to a Home Loans Australia mortgage expert. You can choose whether you’d prefer to talk in person or over the phone, and there’s no charge for the service.

Online-only businesses can be convenient, but it’s normal to be nervous when there’s so much money at stake. Give yourself peace of mind that you’re getting a home loan from a trusted lender without overpaying on your interest rate.

Now is an ideal time to compare loans, because a big bank levy is expected to go into effect on the 1st of July. The banks are expected to pass these costs on to customers, which could mean an increase to interest rates.

Home loans can be a tricky business, so it’s helpful to have someone on your side to guide you through the process. For instance, many of the lenders on the market are sub-brands of Australia’s largest banks, and their customers may not realise it.

It may seem like there is an endless list of dos and don’ts for buying a home, but the reality is that each home loan is different. Compare loans with Home Loans Australia and get advice that is tailored to your situation so you can make an informed decision on an affordable home loan.

*https://www.news.com.au/finance/business/banking/borrowers-could-save-more-than-3000-a-year-by-switching-to-an-online-lender-mozo/news-story/f5ab065d2b75c0fbe6dee47e0391971c

Get Started Now:

Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

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