About Comparison Rates

Comparison Rates enable consumers to look at all loan offers on a level playing field - as a single interest rate figure. This is a useful guide, but it does not take into consideration people's current living circumstances.

So if you do not have up front savings in hand then a higher interest rate with no fees will probably fit your situation better, than a loan which has upfront fees and a lower interest rate. So don't be fooled by just a cheap interest rate. Everyone's situation is different.

That is why it is always best to speak to an experienced financial consultant, so they can match your circumstances to the loan, not the other way around!

Your enquiry will be responded to within 24 hours so you can get on with making the right choice for your life.

How is a comparison rate calculated?

Comparison rates are calculated using a standard industry formula, which takes into account:

• the amount of the loan
• the term of the loan
• the interest rate
• the repayment frequency
• the fees and charges related to the loan such as:
  • government charges, stamp duty or mortgage registration fees
  • fees and charges that may or may not be charged because they depend on an event which may or may not occur such as, fees for early repayment or redraw fees
  • fees and charges that are not ascertainable at the time the comparison rate is provided

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