Rank Top 10 Home Loan Offers

EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:30
Last edited 21/02/2020 - 12:39

I've relaunched the home loan comparison to rank top 10 home loans. The website name is called Goodrate.

Webpage: https://goodrate.com.au/ or https://goodrate.web.app/

We use algorithm to sort through thousands of home loans, and categorise them into much easier to read summary. For example as at today:

  1. Ubank - 2.84%
  2. HSBC - 2.90%
  3. St George - 2.94%
  4. Bank of Melbourne - 2.94%
  5. Bank SA - 2.99%
  6. ING - 2.99%
  7. AMP - 3.02%
  8. Citibank - 3.08%
  9. NAB - 3.09%
  10. Macquarie - 3.09%

I'll be adding local mortgage broker finder in my next release for people to enquire for pre-negotiated deals that might not be advertised on banks' website.

I'm looking forward to your feedback to tell me what other useful features you like to add to the wish list.

Cheers
Sam

Financial

Related Stores

goodrate.com.au
goodrate.com.au

Comments

  • onetwothreefour on 21/02/2020 - 12:32
    +1

    Need way more info than just the interest rate.

    Also the link is blocked from my work PC so I don't trust it much.

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:35

      Good point. What other info do you like to see for each home loans?

      You can also access via https://goodrate.web.app/
      Let me know if this link works for you

  • wiipantz on 21/02/2020 - 12:39

    Vs. the other rate comparison sites out there, what does this offer as a point of difference?

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:42

      Before more features are added, it might be seen just another rate comparison page. But the immediate point of difference as now is a quick summary of the top 10 home loans for each different categories. A lot of hard work all done for you.

      • wiipantz on 21/02/2020 - 12:45
        +3

        Is there a reason the figures shown don't include players like Athena, Homestar ect I'm just looking on other rate comparison sites and find there is a plethora of lenders not mentioned on yours.

  • dust on 21/02/2020 - 12:41

    Oh interesting. How often is data refreshed? And is there a way to search for a specific lender to see where they rank? (Or is there a way to see which lenders are in your database?)

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:46

      The data are refreshed weekly. I'm adding feature to the filter to include lender selection. Currently it's looking at 20 lenders at the moment, which including all top tier and 2nd tier lenders. For the 3rd tier or the non-conforming lenders are not part of the scope at this stage as I don't have a consistent approach to get the data yet.

      • wiipantz on 21/02/2020 - 12:48

        So what I gather it compares 20 lenders of your determination… that's all it does?

        • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 13:13

          Hi wiipantz, you are correct, it's currently limited to 20 lenders that I'm monitoring. I'll expand the list as I go.

          • wiipantz on 21/02/2020 - 13:15
            +1

            @Loans101: Cool, feedback would be why use this when there are multiple better products in a well established area with better catchment and up to the minute data. Gotta be a no from me I guess.

            • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 13:18

              @wiipantz: Hi wiipantz, thanks for your feedback. If I'm just do what others does, then it might not excite me. I'll be releasing more features to have a clearer differentiation soon.

  • spackbace on 21/02/2020 - 12:41
    +2

    For nearly 2.5 years you've been 'chasing feedback' for a site, now you've just rebranded it (why?)

    There's a certain point where 'chasing feedback' just becomes spam

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:50

      Can you clarify what feedback you are looking for. I hope I can give you the answer now.
      The fact is this is my side project, and I'm all on my own. I'm sorry if I had let you down :P

  • spackbace on 21/02/2020 - 12:44

    Wowww…

    Rep… Are these people customers of yours, with the address to their purchased property on Google? Or just loan officers and it's their office addresses?

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 12:57

      They are not customers of ours and they are the mortgage brokers.

  • AbsX on 21/02/2020 - 12:45
    +4

    Athena?
    Tictoc?

    Some really good rates missing

    • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 13:07
      -4

      Athena and Tictoc, just like UBank, they are all online only lenders. I'm looking to add a separate category for the online lenders so not to confuse with the main steams, because they don't have any branch network, and they are part of the majors. UBank -> NAB, Athena -> Macquarie, Tictoc -> Bendigo and Adelaide Bank.

      I think they have to be differentiated from the rest, because they only do vanilla home loan with 100% online based, hence they able to offer such aggressive rates where no any majors can match. I'm still thinking how I can structure it better, so it makes clearer to people. Let me know if you have ideas :)

      • wiipantz on 21/02/2020 - 13:13
        +1

        You currently have Ubank though…

        • EmployeeLoans101 @ goodrate.com.au on 21/02/2020 - 13:16
          -1

          Hi wiipantz, yes I have Ubank, because they have already established in the market place, but I've marked it (online only). I'm also looking to expand the lenders in my radar after I figure out how to present them better.

          • wiipantz on 21/02/2020 - 13:17
            +3

            @Loans101: Cool so in the meantime use one of the many better established comparison sites. Got it.

      • AbsX on 21/02/2020 - 13:40
        +2

        Also I'm guessing the lenders I mentioned probably don't pay comissions to brokers.

        • sweefu on 21/02/2020 - 14:13

          In fairness Ubank doesn't either

      • FSTB on 21/02/2020 - 13:56
        +1

        I don't care if the lender is online only or not. The borrower generally just wants the best rate. They should be included in the list and the borrower should make the determination whether they want to use an online only lender or not.

        Obviously they don't pay you enough commission (if any).

  • Seraphin7 on 21/02/2020 - 13:34
    +3

    I'm currently working my way through an application (through my broker) with one of the banks you have listed at 3.xx%.

    The deal I am getting is 2.xx%.

    Why is the broker able to get a better deal than is seemingly available through your service? Why are you not able to provide the "best rate" in the market?

  • 0FoxGiven on 21/02/2020 - 13:53

    Bank employee discount is pretty sweet. My partner works for one of the Big 4 and we are on 2.95% (With offset, no annual fees, packaged credit card) and we got a $2k credit when we took the loan with them

    • wiipantz on 21/02/2020 - 14:02

      Cool then you could refinance with a better lender after also!

      • 0FoxGiven on 21/02/2020 - 14:41

        I would consider it, if I can find a lender who can beat those Comparison rates for a packaged variable loan :)

  • FSTB on 21/02/2020 - 13:58
    +1

    This list is misleading. Please include online only lenders.

    • wiipantz on 21/02/2020 - 14:01
      +1

      To say it's a rank of the top 10 is completely False, report the thread

  • activ8newbs on 21/02/2020 - 14:23

    Isn't this the job of a mortgage broker?

  • dasher86 on 21/02/2020 - 14:35

    Where's the comparison rate?

  • DrRalph on 21/02/2020 - 14:48

    You say 'Home Loan Offers' but really is just a list of the best owner occupied interest rates.

    • onetwothreefour on 21/02/2020 - 15:27
      +1

      You say 'Home Loan Offers' but really is just a list of the best owner occupied interest rates.

      Should be:

      You say 'Home Loan Offers' but really is just a list of the best some owner occupied interest rates.

  • spiff on 21/02/2020 - 18:57

    Fixed or variable? If fixed, how long for? Owner occupier or investor? Offset? Redraw? Annual fee?

  • gibspmuh on 01/03/2020 - 14:08

    Move Bank appears to be missing from the list as well - 2.94% rate - https://movebank.com.au/products/home-loans/straightforward-…

    • wiipantz on 10/03/2020 - 10:25

      I'd suggest reporting this as it's not top 10 or even close, it's spam for favored lenders

  • brad1-8tsi on 12/03/2020 - 09:03

    Just put in my details and got 5 results. They should be in CPR order as that is what counts.

    Seems odd that it doesn't want to know loan amount and LVR

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