DON'T ASK ME " who's got the best home loan interest rate?"

Deb Murphy

DON'T ASK ME " who's got the best home loan interest rate?"




If I asked you “where is the best place to eat"  what would you answer?

I am guessing that before answering you would need to establish a few things like:

 -       What type of Cuisine do you like?

-       How much do you want to spend?

-       How far would you drive for a good meal?

-       Would you want eat in or take away

-       What is more important to you, service or price?

-       Does it need to be family friendly?

Without asking these questions, the answer could range anywhere from McDonalds Restaurant to Aria on the River!

The person asking could be a vegan, have allergies to certain foods, be on a strict diet, or just plain fussy!


The same goes for home loans. The individual could be

 -      On a low income

-       Self Employed

-       Adverse to Big Banks

-       Have 20% deposit

-       Have no deposit

-       Have a poor credit history

-       Want to borrow through Self Managed Super Funds

-       Prefer line of credit

-       Be in a Professional Organisation


All of these things, and more, determine which Lender has the loan type that is not unsuitable for the individual. This will then determine the interest rate.

Remember the fine print “terms and conditions apply” and ‘subject to normal lending criteria”, this is where some of the above scenarios may be taken into account by the Lender.

To get the best home loan rate suitable to your circumstances and your taste, speak to your Mortgage Broker, or me if you don’t have one!

Your Broker will ask all the right questions and knows what each of the Lenders have on their menu. He will present you with options which are not unsuitable to you. 

Think of it as a ‘buffet’ of Lenders and the Mortgage Broker is your waiter who will present you with options

Bon Appetite!