A mortgage group has launched an advertising campaign to challenge the role banks play when getting a home loan.
Using billboards, HashChing’s campaign aims to convince Australians banks are not necessarily the best option when it comes to home loans.
The first billboard is located on the Winston Hill M2 motorway and Southern Cross Drive in Sydney.
Accompanying the slogan “Home loans are necessary, using banks is not” is the image of a “frowning, bespectacled older gentleman”, meaning to imply that banks are an outdated concept.
The second billboard, in Melbourne’s CBD on the corner of Russell St and Lonsdale St, and the Princess Hwy, Laverton, proclaims there are “Better home loan deals from top rated mortgage brokers”.
Given the heavy scrutiny banks are facing off the back of the Royal Commission, as well as the recent APRA report, the timing of these billboards couldn’t be better, said Mandeep Sodhi, CEO of HashChing.
“CBA recently admitted to taking action to the detriment of customers due to ‘a focus on profit and profitability’ and NAB made a similar statement about the voice of the customer being missing from decision making,” Sodhi said.
“The shocking revelations that came out of the banking royal commission have clearly shed light on the gross misconduct and unscrupulous behaviour of the big four banks.
“Brokers provide customers with the information, guidance and support needed to choose the right home loan for their budget and lifestyle.
“The recent Deloitte Access Economics report recognised this when it found that on average, mortgage brokers have 13.8 years of experience and access to 34 different home loan lenders.
“This means they are able to provide borrowers with quality advice and a variety of tailored solutions, at the same time as driving market competition.
“We want to ruffle some feathers with this ad campaign, get people talking, and ultimately help borrowers get a much better deal on their home loan.”