Competition in the home loan market has been heating up in recent months, especially around fixed rates, and this means it’s a good time to see how much you could save on your mortgage repayments by switching to a better rate.
When people apply for a home loan, they often go with one of Australia’s Big Four banks: ANZ, Commonwealth Bank, NAB or Westpac. These are household names you might naturally consider first, but they don’t typically offer cheap home loans.
In most Australian states and territories, the red hot property market continues and this means that if you've got an investment property in your sights, you'll want to keep mortgage costs as low as possible.
One of the greatest benefits of the digital banking revolution for Australian consumers and small banking providers alike is that the boundaries that once existed are no longer.
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Buying your first home is one of the most exciting (and daunting experiences) and when it comes to selecting a home loan provider there are a few key things that you want to get right from the start – a low rate and a lender you can trust.
The Reserve Bank of Australia (RBA) maintains that its number one enemy is inflation. If inflation stays high, so will home loan interest rates. For households experiencing mortgage stress, a cut to the cash rate may see their variable rates reduced – potentially providing some financial relief.
When it comes time to compare home loans, many of us will first turn to household names such as CommBank or Westpac. But, you shouldn’t be afraid to look beyond the Big Four when it comes to your mortgage – some big savings can be had if you do.
In a sign that major banks are rethinking the chances of another rate cut, Macquarie Bank has increased its fixed rate home loans by as much as 0.20% p.a.
As someone who tracks home loans for a living, I know the sheer amount of options can feel overwhelming, especially if you’re a first home buyer.
If you’re looking for a home loan that offers a low rate while still having the familiarity of a Big Four bank, Ubank and Unloan are two options to consider. These two online-only providers have similar big bank heritage, with Ubank falling under NAB’s umbrella, while Unloan is owned by the Commonwealth Bank.