Lenders are currently offering mortgage brokers exceptional deals to encourage home buyers to apply for their loans or switch lenders as competition grows between lenders. The recent changes to investment loans means the focus has been put on owner-occupier loans from lenders who are looking to regain the market.
The spread between the highest and lowest rates on offer across standard variable and fixed term products up to five years, is the widest it has been in 18 months, with a difference of 2.02 per cent from the minimum to the maximum, reflecting growing competition for business, according to Canstar.
Some lenders are offering customers’ cash-back offers of $1,000+, other lenders are offering to pay Lenders Mortgage Insurance (LMI) on loans with a Loan to Value Ratio of 80-85%. These offers are being promoted to mortgage brokers to promote the particular product to their customers to save them thousands of dollars.
This competition between the lenders means there is no better time than ever to seek the advice of a knowledgeable mortgage broker to ensure customers have all the options on the table to find the right lender product for their owner-occupier loan. With these special offers at mortgage brokers’ finger tips, get in touch with Launch Finance today to find out how we can help save you thousands on your home loan.