Joust is a digital marketplace for good consumers. We connect you directly with our panel of lenders to ultimately be offered some of the lowest home loan rates available in the market place.
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 desktop, phone or tablet. You don’t have to leave the house, or use a mortgage broker.
When using a mortgage broker, banks have to pay them high upfront fees (up to .65% of the loan amount) 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 don't need to allow for 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.
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 for good customers and lenders who can evaluate how attractive your home loan is based on your:
If your profile is attractive to 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 market place. This creates competitive pressure between the bidders. The advantage is with the consumers. You set the rules and reap the benefits.
Joust rewards good customers. Customers with a good credit score, a steady income and a minimum of 10% equity or deposit are ideal for banks because they want reliable and low-risk customers. Therefore 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 focused on finding the best home loan rate available
You stay in control and select how long the Joust bidding process lasts, from between a minimum of 24 hours to a maximum of 3 business days.