Questions your bank should answer before you accept their home loan

Your bank should be able to tell you that:

• The loan is at a better interest rate than that of another bank.
• The home owner’s insurance policy offers better cover than normally available and is at a competitive rate.
• The loan is an “Access Bond” where extra money can be paid into the home loan and the extra funds can be easily accessed at a future date.
• The premium on the life policy –if life cover is required – is as competitive as other policies with the policy benefits being as good as or better than other similar policies.
• The negotiated interest rate is a competitive one and it will remain at its current position in relation to the banks’ prime lending rate during the years to come.

The reality is that if you approached your bank directly (or S A Home Loans) then neither the bank nor S A Home Loans will be able to answer these questions.

The only way that you will be able to obtain a positive response to these questions is if you use the services of a good mortgage originator – such as Seven Seasons Mortgage Originators.

There is no doubt that the best route to follow when applying for a home loan is to request a mortgage originator to attend to the application.