The five biggest banks in Australia have been slugged with a new tax in this year’s budget, but you might be the one who pays. Suspicion is rife that the banks will pass costs on to their customers in the form of rate rises.

The Liberal government’s new budget proposes to slap the banks with a cumulative $6.2 billion in fees over a four-year span. Analysts suggest that the lenders are likely to raise mortgage rates in order to keep their profits up.

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.

First HomeBuying AgainInvestmentRefinancing

This is disappointing news for Aussie homeowners, who are already struggling to pay the mortgage. A recent survey from the ANU* revealed that almost 25 percent of homeowners would find themselves in trouble if interest rates were to jump by two percentage points.

In fact, 87 percent of respondents believe that buying a house will be flat out impossible for future generations.

If owning your own home seems like an unattainable goal, don’t give up on your dream just yet. It’s still possible to find an affordable mortgage through HomeLoansAustralia.com. In just a few clicks you can generate a free mortgage comparison and quickly identify the best rates.

Finding an affordable mortgage rate is only the first step in saving on your home loan. The way you structure your loan and make your repayments can have a big impact on how much you pay over time. Home Loans Australia also gives you access to a mortgage expert who can advise you on how to set up your loan in a way that offers the best savings.

Shopping around is an ideal way to find an affordable deal, especially when it comes to home loans. No matter what the government and the big banks are doing, comparing mortgage rates is a way for you to take control of your future.

The Australian Competition and Consumer Commission (ACCC) is expected to conduct a residential mortgage pricing inquiry for the next year to counteract the possibility of banks passing on costs to customers. However, it will probably be a lengthy process with little short-term benefit to homeowners.

There’s no need for Aussies to put their home buying goals on hold while the government sorts out housing affordability. Home Loans Australia has already done the investigative work for you. Whether you’re a first-time home buyer or simply looking for a better deal, taking a few minutes to compare home loans today could pay off significantly in the long run.

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.