- In Bee Savvy - Getting the most out of your loan, First things first - Steps before applying for finance
Time and time again, we hear reports that Australians don’t understand home loan features. As brokers, this is something we see often. People frequently don’t know what lender terminology means.
Home loan features – why all the confusion?
When asked what terms like “lenders mortgage insurance”, or “offset account” mean, many people aren’t sure. This isn’t particularly surprising. Many lenders advertise these features and products, but rarely explain what they mean. You might see an advertisement for a lender that offers a redraw facility. But chances are, the ad offers very little explanation of what this means.
Unless people have the time and patience to do their own digging, and learn what lender terminology means, they aren’t likely to understand home loan features.
Not understanding mortgage terms can have serious consequences. These can range from not getting the home loan product you were expecting, to paying thousands of dollars more on your mortgage than you needed to. With so much at stake, it’s very concerning most consumers don’t have the knowledge they need to make an informed choice.
How Bee Finance Savvy can help
As mortgage brokers, Bee Finance Savvy understands how complicated home loans, home loan features, and the associated terminology can be. For us, it’s vitally important that all our clients get the right home loan, and understand all its features.
So, we take the time to explain all the terminology and features to our customers, in plain and simple terms. We
want all our clients to be able to make an informed choice, and know exactly what they are getting.
If you’d like to have home loan features explained to you in plain English, you’ve come to the right place! Our friendly broker Desiree is here to answer all your questions. Based in Sydney’s lovely Sutherland Shire, Desiree works with clients all across the country.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda