Are you already on the hunt for a home loan or will you be doing so sometime soon?
If the answer is yes, take the time to read on!
Buyers in any industry love to check all of their available options before purchasing a product or service. This is the age of information, there are so many resources available at our fingertips to research and compare before we buy. We have online review websites, forums and online communities where experiences are shared. Then there’s of course government organisations that regulate the providers in the market.
With that in mind, we should not forget there are also many options for home loans in Australia and when we do our research and compare, we need to make sure we also remember that small lenders are in the game too.
While smaller lenders are not as well known as the banks and big lenders, it doesn’t mean they don’t have a good (and maybe even the best) product and deal for you.
Many customers question the safety of borrowing from small lenders, expressing concern about what might happen if they get into financial trouble given they are a small lender. My response to them is always the same, “It’s 100% safe because you are using their money, they are not using yours”. The only question that should be in a buyer’s mind is, “who offers me a better deal?”.
Since small lenders want to gain market share, they create competitive products and offers. This simply means you are very likely to find good deals and discounted rates when hunting for a home loan.
Let’s do the basic maths: if you get a 0.25% cheaper rate on a $300,000 home loan (over 30 years) you will save $43,536. Now that’s a great reason to consider other options!
The most important thing to remember is that there are many lender options out there so make sure you take the time to do your research and compare the options before you buy. If you can do it for your new pair of shoes, you should definitely do it for the largest purchase you’ll likely ever make in your life… and it can save you thousands down the track.
Remember, at Peasy we have access to an extensive list of lenders Australia-wide so let us give you a hand, we have already done the groundwork… If there’s a better deal for you, we’ll know about it.
Give us a call for a chat 1 800 3 PEASY or contact us via our website.