Looking for a home loan? Choose from one of these options...

Posted by Simon Dehne on April 15, 2014 in Latest News with No Comments

In ‘The Conversation’ today 15/4/04, the headline is ‘Looking for a home loan? Choose from one of these four options….

It mentions that 40% of all mortgages are sold by mortgage brokers, however most of these mortgages are coming from one of the four major banks. Suncorp CEO, Australia’s 5th largest bank argues that a lack of competition exists.

Now I am not not saying that mortgage brokers are directing this 40% market share to the one of the BIG FOUR, in fact well established licensing arrangements from ASIC ensure that each broker needs to ensure you the client interests are at the forefront of the recommendation. What I am saying is that not all mortgage brokers have access to all lenders in the market, especially the wholesale lender offerings. Even Helpcompare does not include all wholesale lenders products available in the Australian market. The point I am trying to make is there is a lot of choice other than just the four big banks. Often the big banks may meet your needs, whether it be on rate, time to cash, features, overall banking services or just the service the point is to shop around and compare. The great news is you have a greater choice if your are prepared to look around and compare.

Recently, Helpcompare has included a number of wholesale lenders on our comparison site. Our plans are to keep growing this range of choice. Just because the loan that Helpcompare puts forward based on your input is not  from a Big Four bank, we would recommend that you always explore how that recommendation might meet your needs.

At Helpcompare we have been pleasantly surprised how competitive lenders such as Suncorp and wholesalers that are being compared on our comparison site have been so competitive, plus the feedback we have been getting on service has not disappointed.

The benefit for you is choice plus the Australian mortgage market has a well established professional distribution of mortgage brokers who know their stuff and can really make the whole process a pleasant and easy one.

So why not compare!



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