Aussie borrowers looking to save big on their home loans may find that switching to a leading digital lender could be a financial game-changer. According to Mozo’s latest analysis, mortgage holders sticking with the big four banks- could be paying up to $83,619^ more over the life of their loan compared to those who switch to a digital lender*. That’s right, close to $80,000 just for being loyal.
A home loan that rewards you for your loyalty, does away with pesky fees, and has a low variable rate that’s well below the average home loan in Mozo’s database.^^
If there’s one home loan lender more and more Aussies are hearing about, it’s the new digital lender Unloan, built by CommBank. And for good reason. Between seriously competitive rates, zero fees , handy features like its loyalty discount, and speedy 10 min online application process, Unloan has become a force to be reckoned with. The Mozo expert judges think so too, as they’ve awarded Unloan two Mozo Experts Choice Awards in 2023^ for Best New Home Loan and Low Cost Home Loan. “Now more than ever, borrowers are looking for ways to reduce their mortgage repayments,” said Mozo expert judge, Peter Marshall. “With the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan has set the bar for what a leading home loan looks like.”
With the holidays almost here, it’s a good time for home buyers to regroup. After all, it’s been a challenging time for both those stuck with high mortgage rates and those trying to break in amid lofty prices.
Despite the Reserve Bank putting off much anticipated rate moves, ANZ today made interest rate cuts to its main variable rate home loan.
There are two key things every person wants in their home loan: a low rate and a lender they can trust. That’s why it’s no surprise to see Bendigo Bank absolutely sweeping in our annual home loan awards.
The Reserve Bank of Australia (RBA) might not have moved on interest rates this month, but NAB has jumped the gun by dropping one of its variable rate home loans.
ANZ has dropped its fixed rate home loans for the second time in just one month, with rates now as low as 5.74% p.a. as the battle heats up between the Big Four for low-risk borrowers.
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Buyers unable to front-up a 20% deposit for a home loan are paying up to an estimated $33,000 extra on an insurance product designed to protect the bank’s bottom line from mortgage defaults.
As we sink our teeth into the spooky season, a spine-tingling cautionary tale about a creature most foul and cunning, confined to the shadowy corners of your finances until it’s time to strike.