Borrowers comfortable to shop around again: Ryan
By
Tim Neary
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17/11/2009 12:00:00 AM
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1
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Wizard and Home Loan Hints founder Paul Ryan believes that real competition in the home loan market is starting to re-emerge, and that consumers are becoming comfortable to shop around beyond the mainstream banks again.
"There is still competition for business and borrowers should make the most of their bargaining power," he said.
Furthermore, Ryan felt that with the majors now charging between 6.20% and 6.30% on a standard variable loan, borrowers who found rates of just 0.3% less could make the savings enough to outweigh the loan switching costs.
"Saving 0.3% on an average loan of $300,000 is $900 per year - which adds up over a 25 year loan," he said.
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marty on
17 Nov 2009 04:28 PM
no one pays S.V. who is he trying to kid? Bring on the competition though!! please...