Independent Finance Research company CANNEX has released their latest Home Loan Star Ratings confirming that Mates Rates offers more 5 star mortgage products than most full priced mortgage brokers.
“The main difference is how the brokers lender panel is selected. Companies such as Aussie and Mortgage Choice prioritise lenders and loan products offering higher commissions, whereas any lender willing to pay any level of commission is able to join the Mates Rates lender panel” said Mates Rates Founder, Trent Lee.
When it comes to Fixed Rate mortgages, Mates Rates offers a choice of more than 30 different 5 Star products, whereas you can only get about 8 through Aussie.
“A lot of people nervous about interest rates are looking to fix their loans and Mates Rates is a clear leader. But there’s more to it than that. We also offer home owners around 25% more Variable Rate loans awarded 5 Stars as well which means borrowers get a better range and better price right across the board.”
With Mates Rates, you can get a 5 Star home loan for a 2 Star price as the independent ratings from CANNEX don’t include savings from Ongoing Rebate Payments. These broker payments can reduce the cost of an average size loan by around $35,000.
”When you consider the Pricing Score in CANNEX star ratings contributes up to 85% of the Star Rating, Mates Rates also has hundreds of other loans that would jump a star or two from the benefit of ORP”, Trent added
CANNEX state their star ratings system is designed to help consumers increase their chances of finding the right product, recommending borrowers add 5 Star products to their shopping lists.
Almost 400 of mortgage lender products available at Mates Rates acheived a CANNEX Star Rating of 3 or more, with several lenders choosing not to participate in the CANNEX survey.
Click here to download the Canstar CANNEX Home Loan Star Ratings.
