Do It Yourself Home Loans

Do it yourself Home Loans

Online Lenders, Are they what they’re cracked up to be?

Can your bank answer these questions?

Does the loan have an Offset Account?

Does the loan have a Redraw facility?

I had a client in need of a home loan. He’d heard about a lender who operates exclusively on line. They have no branches, do not deal with brokers and their rate was lower than mainstream lenders. The only way to get a loan is to do everything yourself online. When he telephoned this online lender he got a call centre in ….  who knows where? The call centre lady spoke with a heavy accent which he found very difficult to understand.

When he asked if the loan had an Offset Account,

“What’s an offset account?” she replied.

When he asked if the rate was a honeymoon rate,

“What’s a honeymoon rate?” came her reply.

As these heavily accented answers did not instil a great deal of confidence in him, he decided it best to engage a Broker, yours truly, who could answer his questions, provide appropriate recommendations and provide advice based on his particular circumstances.

Yes, their rate was a little lower, however the uncertainty created by dealing with people who had no idea about their product and who were difficult to understand was not attractive. What other catches might be hidden in the detail that he needs to be aware of?

A home loan shouldn’t be about price. It should be about value for money. It’s about getting the loan that is right for you. One loan cannot possibly satisfy all borrowers.

By availing himself of my SERVICE, he got the loan that met HIS expectations and satisfied HIS needs, not the lender’s, and at a very competitive rate.

So for YOUR PERSONALISED PROPERTY FINANCE SOLUTION, give Bill at Home Loan Advisers a call.