Finance & Fury Podcast

Welcome to Finance and Fury, the ‘Say What Wednesday’ edition. Today I’m here with Jayden! Today’s question comes from Gavin, “Is there anything to be considered when looking at refinancing mortgages with smaller lenders that run their business online like reducehomeloans.com.au with rates of 3.19%, versus the larger lenders?” Great Question!   Types of Lenders   Large lenders – ‘Big 4’ banks; ANZ, Commonwealth Bank, NAB, and Westpac Small lenders – almost any financial institution other than the Big 4 banks Credit unions, building societies Non-bank lenders – what most online lenders fall under   What are non-bank mortgage lenders? A non-bank mortgage lender is a financial institution that offers home loans but is not a bank   Is a mortgage with a small lender better due to being cheaper? It can be, depending on what you’re looking for in a home loan. As with anything else, smaller lenders have their pros (possibly lower interest rates, possibly better customer service, etc.) and their cons (possibly f