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Don’t limit yourself when comparing home loans

Compare bank and non-bank lenders with convenient online service to find a better deal on your home loan.

New regulations on big banks have made it more expensive to get an investor home loan, which has opened the door for non-bank lenders to offer better deals. This is exactly what they’ve done, announcing immediate offers of lower rates for both owner-occupiers and investors.

While big banks are encouraging existing customers to pay down their mortgage debt by moving from interest-only to principal and interest loans, smaller lenders are not restricted by the same rules. This means they can offer competitive pricing across a wider variety of loan types.

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.

When comparing home loans, don’t cut yourself out of a deal by limiting your options. Use HomeLoansAustralia.com to quickly compare prices on mortgages from over 25 lenders, bank and non-bank. Sticking to familiar brand names when shopping for a home loan does not translate to a lower price or better customer service, so it’s a good idea to expand your search.

The Australian Prudential Regulation Authority (APRA) is attempting to control the mortgage market by focusing on the big banks, who were doling out too many interest-only loans. These loan types comprised 40 percent of all new home loans, and regulators are forcing banks to get that number down to 30 percent.

As a result, interest-only loan rates have gone up by as much as 0.56 percentage points. The average interest rate of an interest-only loan is 4.88 percent, whereas for owner-occupiers paying down their principle, the average rate is 4.31.*

Keep in mind that these rates are averages, which means that you should be able to find a lower rate whether you’re buying your first home or an investment property. Focusing on the big banks may seem like a way to simplify your search, but you could be backing yourself into a financial corner.

If you’ve never used HomeLoansAustralia.com to compare home loans, it’s easy to get started. In just a few minutes you can get your free mortgage analysis, then follow it up by having a quick chat with a mortgage expert over the phone. This is a convenient way of combining flexibility with expertise; home  loans can be complicated and it helps to get unbiased expert advice.

Visit Home Loans Australia today to find a great deal that will bring you a giant step closer to the home of your dreams.

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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