Have you ever wondered what the big banks aren’t telling you? When it comes to your home loan, the big banks don’t want you to look too hard or ask too many questions because you might find out something that will cost them and save you thousands of dollars over your lifetime.
The fact is with official interest rates at all time lows there has never been a better time to hunt for a home loan deal. There’s also never been a better time to know these four things the big banks won't tell you:
1. If you phone them up and ask for a better interest rate you'll likely get one
2. They'll often give new customers a better deal (instead of rewarding you for being a loyal customer)
3. Switching to a cheaper lender could save you tens of thousands over the life of your loan
4. Remaining loyal to one bank instead of regularly comparing your options could cost you a small fortune
So don’t be conditioned by the big banks into thinking you're just lucky to get a loan. The reality is that there are dozens of smaller lenders out there waiting to welcome you with super low rates that could save you thousands. In fact, choosing the best value home loan over the average big bank loan could save a typical owner occupier borrower with a $400,000 mortgage more than $72,000 over the life of the loan.
Take a look at some of the top home loans on the market below and see if you could switch and save.