Big Bank Switch

Have you heard about The Choice Big Bank Switch?

Big Bank Switch – Offer

Their advertising states that ‘Group Switching’ (e.g. refinance from one bank to another) would attract a better deal than an individual switching alone. And the bigger the group, the better the deal…

Big Bank Switch – Concerns

What concerns me is that people, on mass, will also see this as a good idea but maybe for all the wrong reasons. That being:

•  Cheaper Interest Rates

Why not try and get a cheaper Interest Rate but who would want to change lenders if the Interest Rate is higher than the one you already on unless if you were needing a:

• Better Service?
• Better Product?

Just last week I received a referral whose friend’s Bank said, “Yes, yes, yes we can help.”

So she made an offer to buy a property…

A week later the Bank said, “No sorry, we have declined your application.”

So I had a look at the way the loan was presented and sure enough it was structured in the Banks favour.

Structured differently my client would have been able to get finance from any lender.

Instead she lost her dream home…

Big Bank Switch – Things to keep in mind

So, although Interest Rates are an important factor when looking to switch lenders they typically are not the most important.

And unfortunately the Big Four Banks treat the majority of their clients like a number, not a person. So there is not much to choose from when it comes to service…

And let’s face it; Big Banks are in the business of making Billions. They all do this very well by offering other highly profitable products along with their Home Loans like:

• Credit Cards
• Mortgage  Protection Insurance

Big Bank Switch – Preferred Offer

My question to you is, “Wouldn’t you prefer to have Loan Product that allowed you to repay your Mortgage faster than a standard Bank Home Loan?”

A loan product structured in a way that has your money working in your favour – NOT the Banks.

I can guarantee if you were to use just one of my many techniques that I teach all of my clients, along with the loan product I personally use, that you will save a minimum of:

• 5 years off your loan term
• $100,000 in Bank Interest

Based on a $300,000 home loan @ 7% interest over 30 years

If you are interested in learning more about what I can offer you or you would like a quote specific to your circumstances, simply:

• Click on ‘Contact Us’ and send me an email with your details.

Best wishes for now and I look forward to hearing from you soon.

Regards

 P.S. I hope you enjoyed my article about Big Bank Switch.