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How can I look at a broad range of home loans to work out which is best for me? I really want to compare more than just the interest rate ?
Responses
Hi Rob,
It's so important to look at the different types of products and home loans out there and not just focus on rate. It's great that you are acknowledging that.
Most of the comparison websites do focus on rate primarily such as infochoice.com.au and Mozo.com.au The website iselect.com.au will ask for more specific personal information and provide comparisons that are not just focused on rate. You will most certainly get a few phone calls from them once you have entered their details. I learnt this from health insurance last year!!
Your local broker can provide you all of this information you are seeking. They will speak with you personally and show you a range of products based on your specific goals, circumstances and needs. This is what brokers do best. We love to help find the most suitable product for our customers and more than happy to help you too!
Hope this helps.
Nicole
Hi Nicole,
Thanks for taking the time to answer, much appreciated.
I'm not ready just yet, but will look you up when I am.
Thanks again,
Rob.
Hello Rob
The best way to do this is to engage the services of a Broker. As a qualified Broker; I have access to over 20 lenders with a wide variety of rates and features & benefits.
Please feel free to contact me on 0414 727 308 if need assistance.
Rob, really glad you are looking beyond just rate. Important other aspects to consider are set up (offset or var plus redraw or line of credit). Should you fix a portion of your loan/what would be the purpose of fixing, what are your plans with the property in 5 years time and what are your personal plans for the next 5 years. You work this into the mortgage plan/ setup. Hope that helps.
Hi Rob,
It's refreshing to hear a customer who is wanting to look beyond just interest rates but willing to look at the overall features of the loan.
As everyone else has mentioned there are a two ways you could approach this.
1) Research, research & more research. There are lots of websites the offer comparison tools.
www.mozo.com.au
www.ratecity.com.au just to name one or two.
2) Engage the services of a highly experienced broker. Most brokers theses days will offer this service free of charge.
Good luck with the research.
Rob M, a Mortgage Broker is the best place to start as we generally have access to 30+ Lenders. Recommendations from family/friends/colleagues is probably thirst place to start to find one that can help and guide you. Cheers, Rob
Hi Rob,
One of the best ways to do this is to speak to a Finance Broker. It beats going from bank to bank and doing the run around yourself.
A Finance Broker will assess your current and future needs and find the right loan structure to suit you.
I think you're on the right track by not just comparing the interest rates. Things like service levels, product features, Internet banking functionality and linked products can make a serious difference to how well your banking can work for you. It all depends on what's important to you.
Hi Rob,
One of the best ways to do this is to speak to a Finance Broker. It beats going from bank to bank and doing the run around yourself.
A Finance Broker will assess your current and future needs and find the right loan structure to suit you.
I think you're on the right track by not just comparing the interest rates. Things like service levels, product features, Internet banking functionality and linked products can make a serious difference to how well your banking can work for you. It all depends on what's important to you.