This 40-hour home loan sale could change your life

<p>Paying off a home loan can be an exhausting, demoralising and sometimes even an intimidating task. It’s not all doom and gloom however. Australians now have a rare opportunity to find a better deal, which could see them saving up to $39,000.</p> <p>RateCity’s <a href="http://www.ratecity.com.au/sale?utm_source=oversixty&amp;utm_medium=referral&amp;utm_campaign=rcsale_oversixty_article&amp;rmatt=tsid:1030695|cid:54369|cgid:543693734136|crid:15969003" target="_blank"><span style="text-decoration: underline;"><strong>Switch and Save Sale</strong></span></a> is Australia’s first industry home loan sale, which will see lenders slashing fees, offering cashbacks and cut-price home loan interest rates – including the lowest available on the market from Reduce Home Loans.</p> <p>RateCity Money Editor Sally Tindal says the sale has the potential to liberate a whopping $1.98 billion worth of home loan value away from the big four banks and ultimately put $222 million back into the pockets of everyday Australians.</p> <p>Ms Tindal says, “Our research shows that the average mortgage holder with a big bank could save up to $39,000 on a 15-year loan. That’s thousands back into your pocket, instead of your bank’s.</p> <p>“To participate in the sale, all you need is some basic information about your current mortgage such as interest rate, loan size and property value.</p> <p>“In less than a minute, you can plot a new path to mortgage freedom.</p> <p>“There are no up-front obligations, and customers have up to 30 days to take advantage of the discounted offer, provided they register within the initial 40-hour sale.”</p> <p>Ms Tindall said the climate was ripe for refinancing.</p> <p>“With banks putting up rates out of cycle, alongside comparatively low wages growth, mortgage repayments are starting to pinch.</p> <p>“Switching to a more competitive home loan is one silver bullet that’s staring us in the face.</p> <p>“Refinancing isn’t as hard as people might think. Yes, there’s a bit of paperwork involved, but lenders are more than happy to do the heavy lifting for new customers.</p> <p>“And for a return of up to $39,000? That’s a pretty good hourly rate,” she said.</p> <p>The RateCity Switch and Save Sale runs for 40 hours, from 6am Monday May 8, to 10pm Tuesday May 9. For more information or to register interest, <a href="http://www.ratecity.com.au/sale?utm_source=oversixty&amp;utm_medium=referral&amp;utm_campaign=rcsale_oversixty_article&amp;rmatt=tsid:1030695|cid:54369|cgid:543693734136|crid:15969003" target="_blank"><span style="text-decoration: underline;"><strong>click here</strong></span></a>.</p>

Money & Banking