What is a comparison rate and why is it different to the advertised rate?

12 September 2016

A comparison rate is the rate that all lenders by law must display next to their advertised interest rates. It’s a rate which takes into account some of the fees and charges of a home loan to give you a more accurate representation of a loan’s interest rate once the costs are taken into account.

A recent survey has revealed that the vast majority of homebuyers could be missing out on the best loans due to low levels of financial literacy.

Read on……..

 

 

apples

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