Banks traditionally overcharge on mortgages, profiting from homeowners who don’t shop around. You may think you’re getting a good deal on your home loan, but new data shows that you’re probably not. Banks are overcharging customers a significant amount on their mortgages, profiting from homeowners who don’t shop around. Thankfully, consumers are able to find a better deal by using Heart Mortgage Services to compare rates from trusted lenders across Australia. Thousands have used our services to find a more affordable home loan, saving money and time along the way.

Here’s How You Do It:

At the moment, too many Aussie borrowers are paying a ‘lazy tax’ on their home loans, which is the amount you’re paying above the best available rate on the market. Recent research revealed that the average advertised rate for a variable principal & interest loan is 5.2 percent, while the average rate paid is lower than 4.4 percent.*

By paying your bank’s advertised rate, you could be overpaying by a staggering 1.1%. Keep in mind, that’s just comparing averages. By shopping around to find a rate that’s lower than average, you could save even more.

Not only does Heart Mortgage Services help you find a better price on your mortgage, the service is completely free. It includes your initial quote and personalised advice from a home loans expert, who will even help you with the paperwork and negotiate loan terms on your behalf.

Finding a better deal on your mortgage is no longer the complicated process it once was. Users love that they can sort everything out in a couple of clicks and a phone call, making it easier than ever to save money. More and more people like you are using this trusted service each year to make an informed decision on their home loan.

Your current bank may try to convince you that you’re already getting a good deal, but the fastest way to find out the truth is by shopping around. Many Aussies who use our service are surprised to learn how much they can save and wonder why they didn’t compare sooner.

What may seem like a small difference in terms of percentage points can actually add up to hundreds—in some cases, even thousands—of dollars in savings. A few minutes of your time could pay off in a big way when you compare home loans with Heart Mortgage Services.

*According to Reserve Bank data provided by Assistant Governor (Financial Markets) Christopher Kent on 14 August 2017