A comparison rate includes both the loan interest rate and any associated fees combined into a single percentage so there is complete transparency in the total cost to you.
A comparison rate is calculated in terms of industry regulations and determined by the following:
When comparing any finance offers you need to know all the fees and charges you are currently paying or will be charged to make an ac. If an offer has the same advertised rate and comparison rate then you know that there are no hidden fees or charges.
Joust removes confusion for customers by only allowing its panel of lenders to submit a bid if their comparison interest rate is lower than the previous best comparison interest rate bid.
Would you like to learn more about how you can find the best home loan interest rates? If so, download our free eBook "19 Secrets to Finding the Best Home Loan Rate".