Learn the tricks of the trade – how to navigate your home loan

Home loans are hard. Really hard. And try as banks might to make it easier to navigate and despite all the info out there, it can be a bit murky. Thankfully, Andrew Walker, co-founder of Nano digital home loans, has laid a few bits bare. — For the hundreds of thousands of Aussies opting to refinance their home loan each year, most can agree that the application process can be long, tedious and stressful. In fact, 75% of Australians are more frustrated with the process than ever before, according to new research from Nano digital home loans. The traditional banking industry is riddled with outdated processes,legacy systems and confusing jargon. It is an industry that for too long has benefited the lender not the borrower. Unfortunately, many borrowers are reluctant to change from their traditional lender because the process can be lengthy, time consuming and riddled with hidden fees. To challenge the outdated approach to refinancing and home loan lending, Nano has launched The Inaction Figure to symbolise the many frustrations Australians experience with traditional lenders, including confusing jargon (72%) and too much paperwork (48%) as well as slow processes and hidden fees (55%). To help Australians make sense of the complex process, here are some tips on how best to navigate your home loan. TIP 1: Centralise your finances where you can Save yourself money by picking a loan that allows you to consolidate and manage your finances in one place, like Nano’s ‘offset sub account’. Centralising your finances can help you manage your… Read More