Shop around before you put your eggs in one lender's basket

April 24, 2014
Robert Harney

Are you considering buying property in the near future? If so, while it may seem easy and advantageous to apply for a home loan through the lending institution you currently deal with, this isn’t necessarily the best route to take.

With interest rates hovering around record lows, and Australia’s lenders offering innovative and sharply priced home loans, there are many good reasons to shop around and consider a range of loan and lender options.

Borrowers should not necessarily put all their eggs in one lender’s basket and settle for a lending institution that they already have an existing relationship with.

“Despite the fact that there are hundreds of loan products on the market and many of Australia’s lenders are offering some fantastic borrower incentives, a considerable amount of borrowers will apply for a loan through their current lending institution.

“By choosing a home loan lender on banking history alone, borrowers could be selling themselves short when it comes to finding the best home loan deal for them. There are many lenders out there offering mortgage products whose features may be ideally suited to a borrower’s needs. Of course, if they don’t shop around, they will never know what is on the market.”

We can help borrowers compare loans from a wide range of lenders based on the loans’ interest rate, fees, features, flexibility, and the lenders’ customer service performance.

“While it may be easier for a borrower to apply for a loan through the lender they already have a relationship with, it is not always the most prudent decision

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