Monday, October 10th, 2011 - Your Money Magazine
The online home loan market is growing rapidly as prospective homebuyers flock to take advantage of the lower interest rates. And the savings could mean owning your home years earlier.

Your Money Magazine compared online loans and big bank alternatives and found the potential savings of choosing an online lender could amount to more than $100,000 over the life of a loan. And that’s not the only benefit.

“Online loans are easy to find, easy to compare and offer a good level of service,” explained Your Money Magazine managing editor Jackie Pearson. “Plus they are backed by reputable financial institutions so you feel secure.”

Your Money Magazine rated online lenders across basic variable, standard variable and fixed-term loans, and awarded medals to the best performers in each category and to the lenders offering the best features. With some loans offering interest rates a full per cent lower than the big banks and competition set to increase further, homebuyers stand to come out on top if they choose carefully.

However, Your Money Magazine also cautions prospective homebuyers to keep an eye out when shopping online for home loans.

“There are some dodgy lenders out there so it’s important to do your research,” said Pearson. “The checklist in the current issue of Your Money Magazine shows you what to look for when comparing online lenders, and what to look out for.”

Full coverage of Australia’s best online home loans and details on the best rates for your situation is available in the current issue of Your Money Magazine. On sale now at leading newsagents and online at


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Your Money Magazine

Your Money Magazine is for all Australians looking to increase their personal wealth and achieve the lifestyle they desire. Your Money Magazine’s key focus is to educate the Australian public about money management by providing down-to-earth, easy to comprehend content, detailed product comparisons across a range of categories, and recommendations from some of the country’s leading industry experts.

Combining in-depth research and product comparison tools with shrewd financial education materials, Your Money Magazine takes a unique place in the Australian market allowing readers to not only compare existing products but to educate themselves and take decisive action all in one place.

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Lisa Narroway
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