Homeowners can now potentially save thousands off their mortgages online

22/7/2009

Australians looking to cut years and thousands of dollars in interest repayments off their home loan could now find a better deal online in just one minute.

Some of the technology behind Aussie’s Mortgage Explorer™ software, which is used by Aussie’s team of 800 trained and accredited mortgage brokers, is now available to consumers through the website tool 1 Minute Mortgage Calculator

Visitors to the site are asked a few simple questions which are then used to match their needs and preferences with the wide range of loans available through Aussie.

The tool then objectively ranks the loans by initial minimum monthly repayment for that customer and shows them how much they could potentially save if they are looking to re-finance - without revealing the lender or the product.

That information will be revealed when the customer makes an appointment with an Aussie broker. They offer expert guidance, assess eligibility, lodge the application and then support the borrower through the home loan process.

Aussie founder and Executive Chairman Mr John Symond said this new tool was another example of Aussie’s innovation and desire to deliver the best deals, excellent service and choice to the community.

“The 1 Minute Mortgage Calculator will revolutionise the way Australians search for a home loan,” he said. “In the comfort of your home, at the office or sitting in an Internet cafe, by just answering a few questions they could find a better deal on their home loan and potentially save thousands of dollars and years in repayments.”

Mr Symond said the tool was helpful to first homebuyers or homeowners looking to re-finance their existing loans in order to take advantage of the country’s historically low interest rates.

“For example, a family paying off a $300,000 loan paying 6.69 per cent interest could find a loan with a cheaper rate and save almost $6,000 in one year,” he said.

This new tool is an extension of the sophisticated Mortgage Explorer™ technology, which cost millions to develop, and is the backbone of Aussie’s operation.

Aussie brokers are available 24 hours a day, seven days a week, in all capital cities and regional centres at the request of customers who call Aussie on 13 13 33. Once the right loan has been chosen by the customer, Mortgage Explorer™ also allows the mortgage broker to complete an application form on the spot.

Mr Symond said: "I believe that leading edge technology, backed up by our trusted brand and professionally trained mortgage brokers, are the keys to the future of home lending as they can help customers through the daunting experience of making one of their most important financial decisions."

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