Last updated on 21st December 2020

The Home Loan Secret The Banks Don’t Want You To Know

Compare Loans From More Than 25 Trusted Lenders And Save

What would you do if you found out that your bank had been ripping you off for years? Well, this one piece of information is the only thing between you, and a better deal on your home loan. And it’s something the bank is never going to tell you.

According to new data from the ACCC, over the last three years, the average difference between the interest rate advertised by some major banks and the actual paid rate was a huge 1.03%*.

This can have a massive impact on the actual repayments you make, especially in Sydney where the average mortgage size is $610,091**. Here that 1.03% could translate to a reduction in minimum monthly repayments of about $373^.

That’s money you could put towards a holiday, easing the strain of your bills or just paying off your mortgage faster. And it’s yours to claim with the help of a Rate Comparison broker.

Here’s How You Do It:

Step 1: Select your State below.
Step 2: Answer a few questions to calculate your borrowing power and discover what you could be saving with your free report.

So, how can you get access to a discounted rate and start saving? Banks will allow these discounts at their own discretion, based on a range of factors such as your risk, your potential future value to them and how much they want to keep you as a customer.

With a Rate Comparison broker, you’ll have the negotiating power of a seasoned mortgage expert on your side who can fight for a discount on your loan. Our team has extensive knowledge of both Australian interest rates and lending criteria, to help find you a great deal from our panel of over 25 competitive lenders.

We’ll go the extra mile (literally) to help you compare on your terms, with our free face-to-face consultations. We can visit you at home or even at work to answer all your questions, so you can apply for a better loan with confidence.

We understand that a mortgage is likely to be the biggest financial commitment you’ll undertake, and that without someone there to clear the confusion, it can be difficult to know what steps to take.

A Rate Comparison broker can support you throughout the application process. They’ll answer all of your questions and concerns and go into bat for you when it comes time to negotiate with the lender.

To get your free borrowing power report and discover what you could be saving today, click through now.

* For a standard variable, principal and interest mortgage, source: ‘Residential mortgage price inquiry – Interim Report’, Australian Competition & Consumer Commision.
** ‘AFG Mortgage Index: The New Normal’, AFG.
^ On a standard variable, principal and interest mortgage reducing from 5% to 3.97%.

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