Many Aussies are making a big mistake with home loans

Many Aussies are making a big mistake with home loans: here’s how

How mortgage hunters could be dudding themselves out of the best deal, all because of an unfounded fear.

Rebecca Le May

Many mortgage hunters have an unfounded fear of non-bank lenders and could be dudding themselves out of the best deal.

After the Reserve Bank of Australia slashed the cash rate to record lows earlier this month, it was the smaller, little-known outfits Athena, Reduce Home Loans, Homestar Finance, Homeloans.com.au and Pacific Mortgage Group that led the charge in passing on interest rate cuts to customers. RateCity research director Sally Tindall said non-bank lenders had helped drive prices down across the entire home loan market, particularly in recent months as record numbers of mortgage holders moved to refinance, especially when it came to fixed rates. “Right now, the lowest fixed rate loan on the market is just 1.…
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