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Save cash by comparing home loans quarterly

Comparing home loans is a good way to find a better deal, even when the interest rate is on hold.

Australian home owners should be reviewing their home loans every three months, not every year, if they want to find the best deals. The property market is changing quickly, and that could mean big savings for those who are willing to shop around.

Finding a better deal on a home loan is actually a very simple process. Comparison service HomeLoansAustralia.com lets you compare prices on loans from over 27 lenders all in a matter of minutes.

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.

Simply enter a few basic details about your loan requirements, and you’ll get a free mortgage snapshot that lets you compare loans side by side.

“Many Aussie home owners think that if the interest rate hasn’t changed, there’s no reason to compare home loans,” said Jonathan Leane, founder and CEO of Home Loans Australia. “The reality is that shopping around can save you money at any time of the year.”

The Reserve Bank of Australia has been holding the interest rate at a rock-bottom 1.5 percent since the end of 2016, which is welcome news to homeowners. However, other changes are in play that could still affect the price of your home loan.

For example, major lenders have been boosting the rates on interest-only mortgages to encourage people to switch to principal + interest loans. By default, many people switch mortgage types but stay with the same lender, even though better deals may be available from other lenders.

Australian house prices have been climbing at a rate that far outpaces wage growth, especially in major cities like Melbourne and Sydney. The median price of houses and units has ballooned by 200 percent in the last two decades while the average full-time weekly earnings has gone up by only 121 percent in the same period.*

Keeping mortgage costs down is an important consideration for Aussie homeowners, and it’s been made easier with HomeLoansAustralia.com. Make it a point to compare home loans every three months. If you find a better deal, a mortgage expert will be able to help you make the switch over the phone.

Save money on your home loan by comparing mortgages today. It’s a move that could save you thousands over the life of your loan.

*ABS data as collected for the “Evolving Great Australian Dream” whitepaper by mortgagechoice.com.au and reported on news.com.au

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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