How Do Our Home Loans Compare With Bank Home Loans?
The million dollar question - are bank home loans cheaper than a loan from Life Choices Lending Solutions? In some cases, yes, they may be. Therefore, aside from this bottom line question, what are the advantages that would lead you to using our service rather than go direct to a bank?
In today's world "time" is one of the rarest commodities and hence we have to rely on others to do what we cannot. If you visit a bank they will sell you their own products and you may be missing out on many alternatives which will save you time and pay your loan off faster.
Your home loan is most probably the largest single financial commitment you will ever make!
When you consider how long it will take you to pay off this commitment it is worth pausing and considering how much time and effort you should commit to deciding which loan suits your own personal circumstances.
A bank typically has a limited range of home loans to choose from - just the loans they offer. When you come to LCLS, we help you in choosing the best home loan that's right for you, that takes into account your current lifestyle and your future plans. Because we have hundreds of loans available from a huge range of lenders, there is bound to be a loan that is absolutely perfect for you and your family.
Interest rates are based on decisions made by the Reserve Bank of Australia (RBA) on behalf of the Federal Government. The RBA meets the first Tuesday of every month to decide whether interest rates should be changed.
The decision to change interest rates is based upon economic data available to the RBA for the proceeding quarter or reporting period.
Banks and Financial Institutions then use these decisions as a basis for setting the interest rates for their individual loan products and will usually alter interest rates a day or two after any RBA announcement.
Generally, when the economy is heading for a "downturn" the RBA reduces interest rates to stimulate economic activity. The reverse is the case in a "boom" situation and rates are increased to curb inflation.