Compare rates to win $20k

The 2015 Home Lender of the Year, loans.com.au, is giving customers more reasons to switch with a chance to win $20,000.

To enter the draw, home loan customers can visit https://www.loans.com.au/compareandwin and compare their current home loan interest rate with loans.com.au on the Compare, Save, Win calculator.

“Customers can find out how much they could save over the life of their home loan if they were with loans.com.au, and give themselves the chance to win $20,000,” said loans.com.au Managing Director, Marie Mortimer.

The competition will be drawn on 22 December at loans.com.au headquarters in Brisbane.

“It means one lucky winner will be $20,000 better off in time for Christmas, and everyone else who entered the competition will have the benefit of knowing their options for saving money on their home loan,” Ms Mortimer said.

Competition entrants can boost their chances of winning with an extra 100 entries if they switch to loans.com.au and their application is approved before the competition closes on 17 December.

“$20,000 is a great way to kick start your savings on a new home loan that has been refinanced at a lower interest rate,” Ms Mortimer said.

“Even if they don’t win the $20k, customers who switch to loans.com.au win by saving thousands of dollars in interest repayments and own their home years sooner, which gives them more time and money to spend on the things they love.”

Analysts have found property markets have cooled and lenders are keen to attract new customers for the new season.

“Spring is traditionally a busy time for house hunting and data shows the heat has come out of some key property markets because of regulatory changes to lending,” Ms Mortimer said.

“Interest rates are at record lows and the competition is on between lenders to reach out to the market with good deals, so it pays to shop around.”

Loans.com.au has variable interest rates from 3.98 percent p.a, 4.00 percent comparison.