Consumers benefit from lender competition

In the last few weeks, Australia’s lenders have slashed rates, increased maximum LVRs and, in many cases, abolished exit fees.

ING DIRECT, Westpac and ANZ all slashed their fixed rates, while the Commonwealth Bank of Australia abolished its exit fees for new customers and NAB launched an aggressive switching campaign.

The constant changes in policy and pricing by Australia’s lenders had understandably confused borrowers. A savvy professional mortgage broker would be able to guide you through to enable to the best decision to be made.

There is lots of noise in the market place around fees getting waived and special deals. The sentiment that we are getting is that consumers know there are opportunities out there, but they are incredibly confused as to which is the best deal for them.

Consumers don’t know where to go, they don’t know what is the right deal for them. This is where brokers come in. Formula 1 Finance is a market leader in this area and welcomes any questions.


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