PHOTO: A recent Canstar study has revealed the big four banks are not included in the list of best places to get a loan for the property market. (9news)
A study of home and investment loans suggests those in the market could be better looking away from the big four banks, and now could be the time to lock in.
Canstar has given 26 lenders a 5-star rating in various categories, but the big four do not make the list even though they control 80 per cent of the mortgage market.
“It’s not hard to see how borrowers may be left confused as to whether they’re getting a good deal, or should look to refinance their home loan,” Canstar’s finance expert Steve Mickenbecker said.
“The difference between the average rate and the minimum rate in the market is around one per cent, that can cost you around $100,000 plus on an average sized loan.”
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