Where to find mortgage bargains

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Several factors have brought some much-needed competition back into the mortgage market: falling interest rates, the government's injection of cash to non-bank lenders, and a slower property market, especially at the high-end of town. The result is that lenders are once again scrabbling to maintain their market share, and while the competition may not be as fierce as that of 2000-2005, it is getting close and looks set to get even more so during 2009-2010.

To help you take advantage of the renewed competition, Your Mortgage has reviewed over 1000 mortgage products to find Australia's Best Value Home Loans. You'll be surprised by pack leaders! Find out the best deals to be had. 

2009 will also be a great year to negotiate (or renegotiate) with lenders.We reveal effective ways to get rid of your mortgage fast by negotiating extra services and loan features.

However, just because there are better rates and packages back in the market, doesn't mean you'll end up saving money by switching. We also delve into the secrets to successful refinancing and show you how to save yourself a bundle. And just so you don't get caught out, we uncover the hidden tricks used by some lenders to gouge unsuspecting borrowers!

Finally, we examine the First Home Owners Grant, which has generated strong interest among prospective homebuyers. If you have already entered into a contract and thinking of trying to rescind it to take advantage of the massive handout, you don't want to miss our article on the legal legal risks you are likely to face.

Our regular features include the state of the market and our loan comparison tables, where we compare over 1,900 mortgages. Make sure you get to your newsagent and pick up a copy of the January 2009 issue on sale now.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

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