Find the right lender

Q. I am ready to start applying for a home loan, but I have no idea where to start when it comes to choosing a lender, what should I be looking for?

A. There are plenty of factors to consider when choosing a lender and it’s important that you do plenty of research. Firstly, take a look at their product range. Not everyone is going to fit the same mold. You may have a different financial or personal situation to other borrowers, which will require a different home loan. Therefore, look for a lender who will offer a range of both specialised and prime home loan products to suit individual needs. Secondly, the interest rate will most likely be the first thing you look at when choosing a lender, but don’t forget to look at the comparison rate too. This rate can give you a more realistic overview of what you will really be paying as the comparison rate includes any fees or extra costs. Finally, don’t forget to evaluate their customer service. This is an extremely important factor if you want the home loan process to be as pain and stress free as possible. Having a lender who is knowledge, prompt and personable  can make a world of difference both initially and throughout the life of the loan.