Home Loans Australia

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Big banks are raising interest rates. Here’s what you can do.

Inevitable home loan rate rises prompt Aussies to shop around for a better deal.

The big banks may be hoisting their interest rates, but there’s never been a better time to lower prices on your home loan. Despite price fluctuations, home loans remain a highly competitive market, which means that the power to save remains in the hands of the customer.

Not sure where to start? Here are three easy ways to get a better deal on your home loan.

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.

  1. Compare home loans

    Shopping around for a better deal may sound like a no-brainer, but the truth is that not enough people are taking advantage of this money-saving opportunity. A study from the Queensland University of Technology shows that shopping around for home loans saved Australians $649 million over a five-year period. Visit Home Loans Australiafor a free quote to see how much you could save.

  2. Consider boutique lenders

    Big banks generally receive their funding from outside of Australia, which is why they’re the first to be affected by US rate rises. However, smaller lenders are often able to offer competitive deals and a more personalised service to their customers. You may find that switching to a boutique lender results in a lower mortgage rate and a more pleasant overall experience.

  3. Change loan types

    Some banks are offering incentives for customers to adjust their loan types from interest-only to principal + interest payments. For owner-occupied homes, this could be a great way to lower your interest rate and shorten the life of your loan. You could also consider breaking your loan into fixed vs. variable rates to maximize your savings.

For expert advice on how to tackle your loan or where to begin with finding a better deal, start by visitingHome Loans Australia. It only takes a few minutes to generate a quote, and a friendly advisor is on hand to answer any questions you might have.

There’s no need to visit a broker’s office or spend hours calling up different banks with little to show for it, because everything can be done from your living room. When you find a better mortgage rate and are ready to make the switch, your advisor will guide you through the process and manage the paperwork for you.

Comparing home loans is easier than you think, and it could save you thousands over the life of your loan. Now is a great time for consumers to save both time and money, as long as they shop around.

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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