What is the difference between a bank and a lender?
When you are getting a home loan, a 'bank' and a 'lender' provide a similar service, offering you funds to buy a property, and securing the loan on that property. The difference is that some lenders have a banking license, meaning they are also authorised to take deposits from the public and hold them (for example in a savings account).
The experience and service you get can vary between banks and lenders, so it's important to consider all of this when comparing home loans. Your Aussie Broker will help you to find the right lender or bank for you. This service is part of your free appointment with an expert Aussie broker.