The ACCC’s Home Loan Price Inquiry found that consumers who do not regularly review their home loans could be paying too much. The interim report also stated that a lack of price transparency makes it difficult for consumers to compare home loans.
The report goes on to state that consumers with existing home loans should conduct a review on a regular basis and that consumers may need to switch to a different home loan product or switch to another lender in order to secure a better deal.
The ACCC encourages consumers to shop around when looking for a home loan, as even a small reduction in interest rates can potentially save thousands of dollars over the life of the loan. While not all lenders offer discounts and not all consumers will be eligible for a discount, consumers willing to review their loans can often obtain a lower rate.
In line with the ACCC’s findings and recommendations, TAG Finance and Loans have launched a home loan comparison website where you can compare 100s of loans to potentially save $1,000s and when you’re ready to proceed, we’ll manage the entire application process for you…..welcome to Compare N Save.
So if you have a loan or need a new loan click to Compare N Save with TAG.
Disclaimer: This information is general in nature. Professional advice should be sought before acting on any aspect on this page. TAG Finance and Loans Pty Ltd ABN 25 609 906 863 Credit Representative Number 483873 National Mortgage Brokers Pty Ltd ABN 88 093 874 376 Australian Credit License 391209.
Thank you to our guest contributors TAG Financial Services.
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