Banks offer a variety of products, and with there being multiple lenders, it can become quite complicated to work out if you’ve got yourself a good deal on your home loan.

Comparing the market can become quite a time-consuming practice, especially for those without specialist awareness of the mortgage industry. Shopping around is great to compare your current loan, and while there are comparison websites available, with various products available, it can be quite challenging to compare apples to apples.

It is essential to understand the pros and cons of each product because the right home loan for you won’t necessarily reflect the lowest interest rate. Therefore, it is worthwhile to seek advice from a finance broker as it will save you time as well as give you a holistic understanding of each deal.

Ultimately, the goal is to find a home loan that suits your financial and personal plans. Your goals may be to pay off the loan as soon as possible or pay the smallest amount of interest over the life of the loan, or fund investment property in the future. Whatever your plans, a finance broker at Accrue Equity can find a lender and product that will suit your needs.

If you’ve come across your dream home and are in a position to purchase it, it is important to consider that not every lender will have the same criteria. For instance, the bank that has the most attractive rate may lend $100,000 less than one offering a higher interest rate. However, if you are interested in purchasing that property, you may have to make a decision to go with the lender with the higher rate.

If you’ve bought a home in the last few years, looking to purchase soon, or are concerned about your current deal with your lender feel free to contact us. We would love to help!