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Joust is better than a mortgage broker for finding the lowest home loan interest rate

Joust is a digital marketplace for good consumers to connect with our panel of lenders to get offered some of the lowest home loan rates available.

With Joust, you can go online and start the process of getting a better home loan interest rate in approximately 3 minutes. You can do this from a computer, phone or tablet. You don’t have to leave the house, or use a mortgage broker.

Here are the top 3 reasons why using Joust is better than using a mortgage broker for your home loan interest rate.


1. Mortgage Brokers are paid a Trail Commission

When using a mortgage broker, banks have to pay them high upfront fees and a trailing commission that is paid each year. The lender often has to keep paying the mortgage broker a commission each year the loan continues. If the home loan is for 30 years, this can add up to be a very large amount.

With Joust, lenders remove the high front end fee and trailing commission associated with a mortgage broker

If you select a bank and complete your home loan with them, Joust receives a one-off 0.20% success fee from the bank. This success fee is significantly less than the average mortgage broker up front fee and trailing commission, Without a middleman involved, many lenders are bidding with great rates and without those annoying fees. 

2. Banks Can Now Find Customers Without A Broker

Our lenders want to find new customers. Lenders spend millions on infrastructure, staff, branches and advertising to try and find you.

Joust acts as a home loan marketplace and a home loan calculator for the good consumer and the lender. Lenders can calculate how attractive your home loan is based on your:

  •      Requested loan amount
  •      Existing equity/deposit
  •      Equifax credit score
  •      Postcode of your property
  •      Year of birth
  •      Occupation

If you have attractive features for lenders then you are more likely to receive great home loan rate bids.

Joust saves our lenders time and money by finding customers who fit their marketing and growth strategies all in one place. This creates competitive pressure between the bidders. The advantage is with the consumers. You set the rules and reap the benefits.

3. Joust Gives You The Power

Joust rewards good customers. Customers with a good credit score, a steady income and a minimum of 5% equity or deposit are ideal customers. Banks want reliable and low-risk customers to take out a loan with them. The lenders are more likely to be more aggressive in their bidding to win these customers.

Joust provides you with the ability to create competitive tension. When you start a Joust you are telling lenders that you’re interested in finding the best home loan rates. You set the rules.

The lenders then compete to outbid each other. The better profile you offer to the competing lenders, then the greater likelihood of competitive tension.

You can use the Joust auction process, to determine parameters of your loan and set how long the bidding process lasts. Jousts can be as short as 24 hours, but no longer than 3 business days.


Discover more;

How Joust acts as your personalsied home loan calculator

Joust gives the customer power as we take a new approach to credit scores

19 Secrets to Finding The Best Home Loan Rate     Download Free eBook
Get Started Is Joust for Me?

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