Low rate home loans

2010 September 29
by admin

Happy borrowers with low rate mortgages

The banks saw the global crisis as an opportunity to play games with our interest rates. Now a few select lenders have seen the opportunity to offer lower rates to gain market share. You too can access a cheaper mortgage, if you know how the finance industry works…

So in our post-GFC world, which lenders are offering cheaper rates? And what types of customers are they offering these lower rates to?

Be the customer that lenders want

There’s no point bargaining with a lender to get a better deal if they aren’t even interested in approving your loan! As a general rule lenders are looking for borrowers with the following characteristics:

  • Borrowing no more than 80% of the valuation of their property.
  • Have a good credit score / clear credit history.
  • Have made all the repayments on time for their existing home loan.
  • Can easily prove their capacity, which is their ability to afford the debt.

If you meet the above criteria then you are in the position of power! Lenders know you are a low risk, and they know that approving a loan for you is all cream, no sour grapes. So they’ll discount to get your business.

However not every lender will discount their rates. This comes down to their funding position.

Apply with the lenders that want more business!

Some lenders are doing it tough right now. In fact, they are in such a tough situation that their focus is not on lending money, but instead on receiving new deposits. The less they can lend out the better! So they simply will not offer you a discount, it doesn’t matter how good a customer you are.

So how do you know which lenders really want your business? There are three easy ways to locate the cheapest lenders:

  • Who is advertising: Banks don’t spend millions of dollars on advertising campaigns if they don’t actually want to approve mortgages.
  • Consumer websites: You can use non-profit consumer websites that compare lenders. There are a few lenders out there that don’t even advertise, yet have some of the cheapest loans around!
  • Use a mortgage broker: If a bank wants to really build up their lending portfolio then they’ll over a special rate through their mortgage broker network. There is no easier way for them to bring in millions in new lending business!

The diamonds in your own backyard

What if getting a loan isn’t easy for you? Then you can always renegotiate with your existing lender! The best way to do this is to send them a discharge request form informing them that you’re leaving them for another bank. Their retention team will call you up and beg you to stay.

Let them know the reason you are leaving is because the other lender is cheaper and in most cases they’ll offer you a special that isn’t available to new customers. This is the lazy mans way to a low rate home loan!

About the Author

Otto is a Mortgage Broker that has specialised in the credit guidelines of the major banks for over 7 years. His website Home Loan Rate helps customers to choose a home loan from a variety of lenders, all offering competitive interest rates.

61 Responses leave one →
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  2. January 26, 2015

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  3. February 2, 2015

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    Make the process pain-free with debt collection software for a small business that automates this tedious process and adds to your company’s bottom line.
    When travelling, for instance, it would be possible to login to your accounting database and enter transactions on
    the road.

  4. February 9, 2015

    Or, perhaps you’re one of those students who desires a challenge, or even a
    good addition to your résumé for Grad school. A lot of people have small business
    ideas that they often fail to put into practice either because they lack the money to make an
    investment or because the fear to lose everything. Always choose a new account,
    and look for a specialized bank whenever possible.

  5. February 10, 2015

    Look into their years of experience in managing small business accounts so that you can get professional
    advice on various financial matters. If, on the
    other hand, you are not successful in paying your loans back, you are going to develop
    “bad credit. Selling the same things, to the same market, in the same way.

  6. February 27, 2015

    Yet, there are grants that are made for equipment and training.
    Further, amount of loan must be need-based, subject to
    ceiling of Rs 25,000 per borrower for purchase of machinery or equipment etc,
    and meeting working capital requirement of one operating cycle.
    Clients do not look no matter whether you’ve a small or big budgeted communication service.

  7. March 2, 2015

    Then send the postcard to all of the addresses in your area, and try to draw customers in. If,
    on the other hand, you are not successful in paying your loans
    back, you are going to develop “bad credit. Clients do not look no matter whether you’ve a small or big budgeted communication service.

  8. March 4, 2015

    Tax law about businesses in the USA is ever changing.
    If, on the other hand, you are not successful
    in paying your loans back, you are going to develop
    “bad credit. Typically, this works well if we are involved in a solid networking and we reciprocate, by referring clients to those other businesses.

  9. March 10, 2015

    Look into their years of experience in managing small
    business accounts so that you can get professional advice on various financial matters.
    With good habit and savings, you can be assured of having
    enough to start your own business. When travelling, for
    instance, it would be possible to login to your accounting database and enter transactions on the
    road.

  10. March 12, 2015

    The following are the benefits that you have to be aware of the most.

    Further, amount of loan must be need-based, subject to ceiling
    of Rs 25,000 per borrower for purchase of machinery or equipment etc, and meeting working capital requirement of one operating cycle.
    Selling the same things, to the same market, in the same way.

  11. March 16, 2015

    Then send the postcard to all of the addresses in your area, and try to draw customers in. When job offers do come and
    I’ll admit, some companies may fear hiring you
    because they fear a former owner being an employee, negotiate the best salary you can along with the best benefits you
    can for you and your family. Before you do this,
    examine the publication online to ensure that its website is user friendly.

  12. March 20, 2015

    Tax law about businesses in the USA is ever changing.
    You can know all the ins and outs of business and can run a restaurant without fail; but would you
    know the first thing about installing the kitchen grills.
    When travelling, for instance, it would be possible to login to your
    accounting database and enter transactions on the
    road.

  13. April 3, 2015

    Banner ads typically include graphics and
    text which entice Internet users to click on the advertisement.
    With good habit and savings, you can be assured of having enough to start your own business.
    What you give away doesn’t have to be costly, but it must
    be valuable.

  14. April 14, 2015

    Then send the postcard to all of the addresses in your area,
    and try to draw customers in. Make the process pain-free with debt collection software for a
    small business that automates this tedious process and adds to your company’s bottom line.
    What you give away doesn’t have to be costly, but it must be valuable.

  15. May 1, 2015

    The following are the benefits that you have to be aware of the most.
    Make the process pain-free with debt collection software for a small business that
    automates this tedious process and adds to your company’s bottom
    line. Always choose a new account, and look for a specialized bank whenever possible.

  16. May 11, 2015

    Look into their years of experience in managing small business
    accounts so that you can get professional advice on various financial
    matters. When job offers do come and I’ll admit, some companies
    may fear hiring you because they fear a former owner being an employee, negotiate the best salary you can along with the best benefits you can for you and your family.
    What you give away doesn’t have to be costly, but it must be valuable.

  17. May 11, 2015

    Or, perhaps you’re one of those students who desires
    a challenge, or even a good addition to your résumé for Grad school.

    As with everything else, it is only the mindset of the entrepreneur that
    dictates the success and failure of a company. Selling the same things,
    to the same market, in the same way.

  18. May 15, 2015

    If you’re educated (or seeking an education) you will probably find
    a ton of opportunity in a small town. A lot of people
    have small business ideas that they often fail to put into practice either because
    they lack the money to make an investment or because the fear
    to lose everything. Always choose a new account, and look for a
    specialized bank whenever possible.

  19. May 18, 2015

    Or, perhaps you’re one of those students who desires a challenge,
    or even a good addition to your résumé for Grad school.
    With good habit and savings, you can be assured of
    having enough to start your own business. What you give away doesn’t have to
    be costly, but it must be valuable.

  20. May 19, 2015

    If you’re educated (or seeking an education) you will
    probably find a ton of opportunity in a small town. When job offers do come and I’ll admit,
    some companies may fear hiring you because they fear
    a former owner being an employee, negotiate the best
    salary you can along with the best benefits you can for you
    and your family. Two: Increase in income – When you are able
    to increase your traffic to the business, you will easily be able to also increase your
    income.

  21. May 19, 2015

    Yet, there are grants that are made for equipment and training.
    Without enough traffic, you will never have enough customers and this means you won’t be making enough money.
    Two: Increase in income – When you are able to increase your
    traffic to the business, you will easily be able to also increase your income.

  22. May 26, 2015

    The following are the benefits that you have to be aware of the most.
    Further, amount of loan must be need-based, subject to ceiling of Rs 25,000
    per borrower for purchase of machinery or equipment etc, and meeting working capital requirement of one operating cycle.
    Before you do this, examine the publication online to ensure that its website is user friendly.

  23. May 28, 2015

    Look into their years of experience in managing
    small business accounts so that you can get professional advice on various financial matters.
    With good habit and savings, you can be assured of having enough to start your own business.
    Selling the same things, to the same market, in the same way.

  24. June 4, 2015

    Tax law about businesses in the USA is ever changing.

    If, on the other hand, you are not successful in paying your loans back, you are going to develop “bad credit. What you give away doesn’t have to be costly, but it must be valuable.

  25. June 12, 2015

    If you’re educated (or seeking an education) you will probably find a
    ton of opportunity in a small town. Platforms: Android, Blackberry, i – Phone, i – Pad, Windows Phone.
    Two: Increase in income – When you are able to increase your traffic to the
    business, you will easily be able to also increase your income.

  26. July 2, 2015

    Banner ads typically include graphics and text which entice
    Internet users to click on the advertisement.

    Without enough traffic, you will never have enough customers and this means you
    won’t be making enough money. For clients, you can target neighborhoods,
    communities or even companies.

  27. July 13, 2015

    Look into their years of experience in managing small business accounts so
    that you can get professional advice on various financial matters.
    Without enough traffic, you will never have enough customers and this means you won’t
    be making enough money. Typically, this works well if we are involved in a solid networking and we reciprocate,
    by referring clients to those other businesses.

  28. July 20, 2015

    Yet, there are grants that are made for equipment and
    training. Without enough traffic, you will never have enough customers and this means you won’t be making enough money.

    Typically, this works well if we are involved in a solid networking and we reciprocate, by referring clients to those
    other businesses.

  29. July 21, 2015

    If you’re educated (or seeking an education) you
    will probably find a ton of opportunity in a small town. When job offers
    do come and I’ll admit, some companies may fear
    hiring you because they fear a former owner being an employee,
    negotiate the best salary you can along with the best benefits you can for you and your family.

    A customer is injured while using a product you sold and files a claim for indemnity.

  30. August 3, 2015

    Look into their years of experience in managing small business accounts so that you can get professional advice on various financial
    matters. You can know all the ins and outs of business and
    can run a restaurant without fail; but would you know
    the first thing about installing the kitchen grills.
    Always choose a new account, and look for a specialized bank whenever possible.

  31. August 4, 2015

    Or, perhaps you’re one of those students who desires a challenge, or even a good
    addition to your résumé for Grad school. When job offers do come and
    I’ll admit, some companies may fear hiring you because they fear a former owner being
    an employee, negotiate the best salary you can along with the best benefits you can for you and your family.

    Typically, this works well if we are involved in a
    solid networking and we reciprocate, by referring
    clients to those other businesses.

  32. August 4, 2015

    The following are the benefits that you have to be aware of
    the most. Further, amount of loan must be need-based, subject to ceiling of Rs 25,000 per borrower
    for purchase of machinery or equipment etc, and meeting working capital
    requirement of one operating cycle. Before you do this, examine the publication online to ensure
    that its website is user friendly.

  33. August 4, 2015

    If you’re educated (or seeking an education) you will
    probably find a ton of opportunity in a small town.
    When job offers do come and I’ll admit, some companies may fear hiring you because they fear a
    former owner being an employee, negotiate the best salary you can along with the best benefits you can for you and your family.
    Typically, this works well if we are involved in a solid networking and we
    reciprocate, by referring clients to those other businesses.

  34. August 6, 2015

    If you’re educated (or seeking an education) you will probably find a ton of opportunity in a small town. When job offers do come and I’ll admit,
    some companies may fear hiring you because they fear a former owner being an employee, negotiate the best salary you can along
    with the best benefits you can for you and your family.
    For clients, you can target neighborhoods, communities or even companies.

  35. August 20, 2015

    Or, perhaps you’re one of those students who desires a challenge, or even a
    good addition to your résumé for Grad school.
    Platforms: Android, Blackberry, i – Phone, i – Pad, Windows Phone.
    Clients do not look no matter whether you’ve a small or big budgeted communication service.

  36. August 25, 2015

    Yet, there are grants that are made for equipment and training.
    You can know all the ins and outs of business and can run a restaurant
    without fail; but would you know the first thing about installing the kitchen grills.
    Typically, this works well if we are involved in a solid networking and
    we reciprocate, by referring clients to those other businesses.

  37. August 25, 2015

    Look into their years of experience in managing small business accounts so that you can get professional advice on various financial matters.

    You can know all the ins and outs of business and can run a restaurant without fail; but would you know
    the first thing about installing the kitchen grills. Always choose a new
    account, and look for a specialized bank whenever possible.

  38. August 26, 2015

    If you’re educated (or seeking an education) you will probably find a ton of opportunity in a small town. Make the process pain-free with debt collection software for a small business
    that automates this tedious process and adds to your company’s bottom line.
    Typically, this works well if we are involved in a solid networking
    and we reciprocate, by referring clients to those other businesses.

  39. August 26, 2015

    Banner ads typically include graphics and text which entice Internet users to
    click on the advertisement. Platforms: Android, Blackberry, i – Phone, i –
    Pad, Windows Phone. Clients do not look no matter whether you’ve a small
    or big budgeted communication service.

  40. August 26, 2015

    Banner ads typically include graphics and text which entice Internet users to click on the advertisement.

    When job offers do come and I’ll admit, some companies may fear hiring you because they fear
    a former owner being an employee, negotiate the best salary you can along with the best benefits you
    can for you and your family. What you give away doesn’t have to be costly,
    but it must be valuable.

  41. August 28, 2015

    If you’re educated (or seeking an education) you will probably find a ton of opportunity in a small town. Without enough traffic, you
    will never have enough customers and this means you won’t be making enough money.
    What you give away doesn’t have to be costly, but it must be valuable.

  42. September 2, 2015

    The following are the benefits that you have to be aware of the
    most. Platforms: Android, Blackberry, i – Phone, i – Pad, Windows Phone.
    When travelling, for instance, it would be possible to login to your accounting database and enter
    transactions on the road.

  43. September 2, 2015

    Banner ads typically include graphics and text which entice Internet users to click on the advertisement.
    You can know all the ins and outs of business and can run a restaurant without
    fail; but would you know the first thing about installing the
    kitchen grills. When travelling, for instance, it would
    be possible to login to your accounting database and enter transactions on the road.

  44. September 2, 2015

    Tax law about businesses in the USA is ever changing.
    With good habit and savings, you can be assured of having
    enough to start your own business. Two: Increase in income – When you are able to
    increase your traffic to the business, you will easily
    be able to also increase your income.

  45. September 2, 2015

    If you’re educated (or seeking an education) you will probably find a ton of opportunity in a small town. When job offers do come and I’ll admit, some companies may
    fear hiring you because they fear a former owner
    being an employee, negotiate the best salary you can along with the best benefits you can for you and your family.
    Always choose a new account, and look for a specialized bank whenever possible.

  46. September 2, 2015

    Then send the postcard to all of the addresses in your area, and try to draw customers in. With good habit and savings, you can be assured of having enough
    to start your own business. When travelling, for instance, it would be possible to login to your
    accounting database and enter transactions on the road.

  47. September 4, 2015

    Banner ads typically include graphics and text which entice Internet users to click on the advertisement.
    When job offers do come and I’ll admit, some companies may fear hiring you because they fear a
    former owner being an employee, negotiate the best salary
    you can along with the best benefits you can for you
    and your family. Clients do not look no matter whether you’ve
    a small or big budgeted communication service.

  48. September 9, 2015

    Or, perhaps you’re one of those students who desires a challenge, or
    even a good addition to your résumé for Grad school.
    If, on the other hand, you are not successful in paying your
    loans back, you are going to develop “bad credit. For clients, you can target neighborhoods, communities or even companies.

  49. September 9, 2015

    Or, perhaps you’re one of those students who desires a challenge, or even a good addition to
    your résumé for Grad school. A lot of people have small
    business ideas that they often fail to put into practice either because they lack the
    money to make an investment or because the fear to lose everything.
    Clients do not look no matter whether you’ve a small or big budgeted communication service.

  50. September 21, 2015

    Yet, there are grants that are made for equipment and training.

    With good habit and savings, you can be assured of
    having enough to start your own business. Always choose
    a new account, and look for a specialized bank whenever possible.

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