Fixed or Variable Home Loans - Aussie Mortgage Explorer

The general consensus in the media right now seems to suggest that a variable rate home loan is still the best way to go.

A fixed rate can protect you from rises in interest rates but the downside is that you won't be able to take advantage of lower payments when the rate goes down again.

It looks like there'll be more rate rises on the way this year so it makes sense to get professional advice before you make any decisions.

Aussie Home Loans can help you find the right home loan; they've spent millions of dollars developing a unique software tool called Mortgage Explorer to help them do this.

Make your first step towards the right mortgage and arrange for a free home loan health check today >Specialist Mortgage Comparison Software @ Aussie

Chairman and Chief Executive Officer of Aussie, Mr John Symond, said "The latest rate rise will lead to a greater crisis in housing affordability, particularly for first home buyers.

"It is more important than ever for home buyers and existing borrowers to shop around for the best home loan deal to beat the rate rise, with accredited mortgage brokers the best place to start", he added.

Aussie's research shows that more than 50 per cent of borrowers who come to Aussie are not getting the best home loan deal available for their needs. To this end, Aussie has launched a unique tool to accurately search through thousands of loans on offer in Australia. Called Mortgage Explorer, the computer program is now being used by Aussie's 600 accredited mortgage advisers across Australia and features a range of tools to help find the cheapest home loan deals to suit the customer's individual needs.

Aussie has invested several millions of dollars to develop and deploy the latest version of the unique software in Australia.

Features of Aussie's exclusive software include:

• a tool to accurately match a customer's individual needs to the right loan. Mortgage Explorer also ranks loans at their true cost;
  
• the ability to electronically lodge applications and gain on the spot approvals for the loan chosen;
  
• daily updated, accurate information on 2,000 differently configured home loans in the market;
  
• a tool to compare an existing loan held by a customer with other loans in the market.

Aussie's mortgage advisers are accredited with the Mortgage and Finance Association of Australia and are paid the same commissions irrespective of the loans selected by the customer. This provides further confidence to customers.

Mr Symond, said "Our Mortgage Explorer has the ability to take all of the mystery and potential traps out of what is probably the biggest financial commitment to be ever made by Australians".

The software is applicable to Aussie's panel of 15 lenders, including the four major banks, saving many hours of research by the customer and providing the best possible loans.

"It would take customers months to sort through the many loans available in the market, whereas the Mortgage Explorer software takes just minutes to generate the best loans matched to a customer's needs", said Mr Symond.

The customer's input and preferences heavily influence the recommendations the system makes, and they can be guided through a wide range of loan repayment options, allowing the mortgage to be paid off as quickly as possible.

Make your first step towards the right mortgage and arrange for a free home loan health check today >Specialist Mortgage Comparison Software @ Aussie