Finding the Right Loan

04th Aug, 2021 | Local News

In this article:
Peter Bennet gives you his top tips for finding your perfect home loan

Andrew Fortelny

At Yellow Brick Road Coburg, we know that when it comes to home loans, the interest rate is the probably the most important factor, but it’s not the only one. Home loan rates are incredibly competitive right now, so make sure you’re utilising comparison websites to see what’s out there and don’t be afraid to look outside the big four banks. Smaller lenders often have lower rates, so it’s worth looking around to find the best deal. Speak to your local Yellow Brick Road mortgage broker to find out more on interest rates. Our brokers have a wealth of experience and resources at the tip of their fingertips just waiting to help you get your perfect loan.

When you’re looking for a loan, also have a think about the features you’d be likely to access. An offset account is a popular one – it’s an account that links to your loan and allows you to reduce the interest you pay based on how much is in the account. So if you have a $200,000 loan and you have $50,000 in your offset, you’ll only pay interest on $150,000. A redraw facility is also important as it enables you to pay extra on your loan, but let you access that money if you need it down the track.

Still have questions? Make an appointment with one of our friendly mortgage brokers at our Yellow Brick Road Coburg branch today!

We have you covered on all stages of your property journey