Last updated on 22nd July 2017

If Your Mortgage Rate Doesn’t Start With a 3, You’re Overpaying

Despite low interest rates, many Aussies still overpaying on their home loans

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New Comparison Site Allows Aussies to Compare Loans from 25 Providers

Millions of Australians are paying too much for their home loans, even though a lower interest rate is available. In fact, the Reserve Bank of Australia (RBA) estimates that the average Aussie is paying at least half a percentage point more than they should.

If the interest rate on your home loan doesn’t start with a three, you’re probably being overcharged. The good news is, it’s easy to find a better deal and start saving – all you need to do is compare home loans to see what else is out there.

Comparing home loans can be done online from the comfort of your living room by using HomeLoansAustralia.com.au. Select the amount you wish to borrow for an instant quote, or contact our expert mortgage brokers to receive a custom quote and personalised advice.

Here’s How You Do It:

Step 1: Select your State below.
Step 2: Once you go through a few questions, you will have the opportunity to compare the quotes in your area for an average savings of 20% a month.

Choosing a home loan is a big deal, so we want to make sure you are fully informed about your loan package. Our brokers are here to save you money while providing you with the important details on each lender, so you can be confident in your selection.

The RBA found that only one-third of new home loans are due to refinancing; that leaves two-thirds of Aussies who could be saving on a lower interest rate. If it’s been a few years since you refinanced – or if you’ve never refinanced – now is a great time to compare loans and save.

With HomeLoansAustralia.com.au, refinancing has never been more convenient. Our brokers will talk to you in real language, not financial gibberish, and they’ll complete the necessary paperwork for you. It can all be done online and over the phone, and the service won’t cost you a cent.

There’s no reason to pay a high interest rate on your home loan, unless you want to line your lender’s pocket with your hard-earned dollars. No matter how long you’ve been with a certain lender, it’s not a mutually beneficial relationship if you’re being treated like a number. Put your finances first by shopping around for a better deal.

Join the growing number of Australians who are lowering their interest rates and reducing their monthly mortgage payments. Stop overpaying on your home loan. Use our simple home loan finder to quickly see how you could be saving time and money on your mortgage. Your savings are waiting, so don’t delay any longer.

This article is opinion only and should not be taken as financial advice. Check with a financial professional before making any decisions.