One of the biggest mistakes people make when it comes to their home loan is not comparing their existing loan to its competitors. The home loan market is very competitive, and that means that lenders are battling for your business. This means that on any given day there are dozens of different home loan products on the market and you might be selling yourself short if you just assume that your loan product is the best fit for you.

There are many different types of home loans that address different people’s needs, such as:

  • People who are just looking for the lowest rate
  • People who want stability and consistency and are looking for a fixed rate
  • People who want loan flexibility, and might be looking for a loan with a re-draw facility
  • People who are chasing capital growth, and might want an interest-only repayment structure
  • People who want to pay off their loan as fast as they can who need flexible repayment terms
  • People who want to be able to regularly switch home loan providers and want to avoid break costs

The important thing to remember is that no two home loans are the same. Every lender offers different benefits to their customers, and has different restrictions and conditions in relation to their products. Our job is to sift through all of that information and find the best home loan that suits you.

It might be that you are buying another property or simply refinancing in relation to a property that you already own, but shopping around can save you thousands – and the team at Educated Finance are experienced shoppers!

Contact us today to speak to one of our finance brokers free of charge.