Aussies advised to compare home loans

Aussies that have kept up repayments on their home loans and have a good credit record have been advised to look at different mortgages to see if they can get a better deal.

Chris Acret, managing director of Smartline Personal Mortgage Advisers, told the Hills Shire Times that lenders offer very different products, home loan interest ratesand credit policies.

He recommended that those with a mortgage already compare home loans to see if they can get a better rate from their current provider, although he recommended that those considering this option put their finances in order first.

"If you've shopped around and found better deals, you've got nothing to lose by contacting your current lender and asking: 'What can you do for me?'," he stated.

Mr Acret's recommendation echoes that of Smartmove professional mortgage adviser Simon Orbell, who told the Daily Telegraph that prospective home loan customers should examine their credit record and address any problem areas before submitting an application.

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