Could you be tempted by the lenders latest home loan offers?
There’s a lot of competition for Australia’s $1.3 trillion home loan market and one could be easy to be dazzled or confused by the variety of offers available. Indeed, some of the deals might sound more like those on offer from car dealers than the banks, but that’s what happens interest rates are low and every lender is keen to grab a share of the market. Home loan cash back offers In recent times, the deals have included cash discounts, $1000 gift cards to help with moving costs, cash rebates, holidays and even petrol discounts from one non-bank lender. A recent report by JP Morgan found that all the major banks were enticing borrowers with home loan rate discounts, with especially generous deals being offered to wealthy borrowers. “There’s been a huge spike in the number of lenders offering cash back sweeteners to borrowers, especially refinancers,” said Kirsty Lamont of Mozo, the interest rate comparison website. How to stay one step ahead Ultimately, there’s no one-stop-shop solution.
Related: Mortgage Loans