Question 1

How do I find the best home loan?

Accepted Answer

To find the best home loan, compare the comparison rate (not just the headline rate), fees, features (like offset accounts and redraw facilities), and loan flexibility. Our comparison tool helps you see these factors side by side across multiple loans.

Question 2

What's the difference between interest rate and comparison rate?

Accepted Answer

The interest rate is just the base rate charged on your loan. The comparison rate includes both the interest rate and most fees and charges, giving you a more accurate picture of the loan's true cost. Always compare loans using the comparison rate.

Question 3

Are there hidden fees I should watch out for?

Accepted Answer

Yes, some common hidden fees include application fees, ongoing annual fees, discharge fees, break costs for fixed loans, and valuation fees. Our comparison tool helps identify these fees so you can compare the true cost of different loans.

Question 4

Should I choose a fixed or variable interest rate?

Accepted Answer

Fixed rates offer certainty for budgeting but less flexibility, while variable rates can go up or down but typically offer more features. Consider your financial situation, risk tolerance, and market outlook. Some borrowers split their loan between fixed and variable portions.

Question 5

What features should I look for in a home loan?

Accepted Answer

Important features to consider include offset accounts (reduces interest charged), redraw facilities (access extra repayments), extra repayment options (pay off the loan faster), loan portability (keep your loan when moving houses), and package discounts for other banking products.

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