Want to Know the Number One Tip for Getting the Best Deal with Your Home Loan?

home loanHow do you know which lender is offering the best deal for your home loan?  There are so many different interest rates and deals available.

In order to make it easier for consumers to work out the true cost of a mortgage, all lenders must disclose a benchmark comparison rate in their advertising of home loans and personal loans.

Designed to reflect the total annual borrowing cost, it wraps up all the interest payments and fees, showing them in a single percentage figure. For instance, a bank’s advertised interest rate may be 5.49 per cent, but its comparison rate 6.75 per cent.

Source : Quartile Property Network (2 August 2012)

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