Lender guide · Major bank
Home Loans With the Major Banks: What to Know
The big banks are where most people start, and for good reason. But they're not automatically the right fit. Here's an honest look at the trade-offs.
When people picture a home loan, they usually picture one of the major banks. They're familiar, they have branches everywhere, and plenty of borrowers like the reassurance of a well-known name. That comfort is real and worth something. It just shouldn't be the only thing you weigh up.
Where the majors tend to do well
- Broad product ranges, including offset accounts and redraw.
- Established online banking and app experiences.
- Comfort with more complex scenarios, like construction or larger portfolios.
- Occasional pricing sharpness when they're chasing a particular type of borrower.
Where a different lender might suit you
- Smaller and non-bank lenders sometimes have more flexible policy for self-employed or unusual income.
- Second-tier lenders can be competitive on price without the big-bank overheads.
- Some lenders move faster on approvals when timing is tight.
The honest bit
There's no single best lender, only the best lender for your situation. My job is to compare the field and explain the trade-offs so you can choose with your eyes open.
Not sure which lender fits?
That's literally what I do all day. Let's find the one that suits you.
Frequently asked questions
Do you only work with the big banks?
No. I compare loans across a panel of more than 40 lenders, from the major banks to smaller and non-bank lenders, and recommend based on your needs, not on who's biggest.
Is a big bank always safer?
All Australian lenders operate under strict regulation, and eligible deposits are covered by the government guarantee. Smaller lenders can be a perfectly sound choice, and often a sharper one.
Important information
This information is general in nature and does not take your personal objectives, financial situation, or needs into account. It is not credit assistance or a recommendation to enter into any particular credit contract. Consider whether it is right for you and seek advice before acting. Lending is subject to a lender's eligibility and approval criteria. Terms, conditions, fees, and charges apply. We do not publish live interest rates. Rates, fees and policies change often and vary by lender and borrower.
Greenwood Finance · ABN 23 671 049 693 · Credit Representative No. 551942.
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