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Last Updated on 18 December 2020

How to Choose an Independent Lender for Your Home Loan

When choosing a home loan, Australians are shopping around more than ever. Low interest rates have opened up the market for independent lenders, and this increased competition is good news for prospective homeowners.

Most Australians are familiar with big-name banks, but may not recognise many of the smaller brands now on the mortgage scene. When looking at home loans it can be tempting to go with the name you know, even though it may not translate to the best offer.

However, confidence in Australia’s smaller lenders is growing. Recent statistics show that independent banks hold approximately 26% of the fixed loan market, a jump of over 7% in only two months. Smaller lenders are not the unknown quantity they once were, and Australians are benefitting from trying new things.

Whether you are a first time homebuyer or looking for a better deal on your current loan, your first step is to compare home loans. This can be done quickly and easily online with Simply enter a few details about the amount you wish to borrow, and you will receive the top three loan offers from a mix of big Australian banks and smaller loan companies.

You can chat with a mortgage specialist about your custom quote to find out more about independent lenders and the personalised service they can provide. Home loans are a long-term investment, and even minor variations in interest rates and fees can have a big impact over time.

Once you have chosen your lender, the professionals at Home Loans Australia can assist you with completing and submitting the necessary paperwork. Purchasing a home can be a confusing and overwhelming process, and it helps to have someone in your corner.

Selecting an independent lender is the start of an ongoing relationship with a company that may play a very big role in your life. If you decide later to renovate your house, purchase a new one, or refinance, your lender is often who you turn to.

Picking a lender to handle your home loan is not a decision that should be undertaken lightly. By comparing the options on the market and talking to an expert, you can be comfortable knowing that you have done your research and made a solid choice. Spend a few minutes looking at home loans today and you can be one big step closer to owning the home of your dreams.


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