Australians with a good credit record and who have been consistent with repayments on their mortgages have been advised to compare home loans to see if they can get a better deal.
Chris Acret, Managing Director of Smartline Personal Mortgage Advisers, said that lenders provide various products, credit policies and interest rates.
He suggested that those with existing home loans should compare mortgages to see if they can obtain a better rate from their current provider. He added that those considering this option should put their finances in order first.
“If you’ve shopped around and found better deals, you’ve got nothing to lose by contacting your current lender and asking: What can you do for me,” Acret said.
Meanwhile, Simon Orbell, a professional mortgage adviser from Smartmove, agreed with Acret’s recommendation, saying that prospective mortgage customers should inspect their credit record and address any issues before submitting an application.
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