CONSUMERS HAPPY TO SHOP AROUND FOR RATE SAVINGS

29th June 2006

Perth-based property buyer's agent Liz Sterzel from Property Wizards said their customers often confided in them about their experience in securing a loan.

"Many of our clients are referred to us by brokers, and so they're usually very savvy, freely admitting they're not afraid to shop around for the best interest rate," she said.

"That's what they're most concerned about - service is usually a secondary consideration."

She said consumers were also often comparing different brokers and banks against each other to see where they could get the best deal.

"The main concern is that some clients wait until they've purchased their property before shopping around and this can wreak havoc, and indeed even put the purchase at risk if finance is late and the seller wants out," she said.

Liz Sterzel said these days it was common for couples to make joint decisions when it came to organising finance.

"Generally we find, that if the woman is comfortable with what the loan is being used for, the man will then handle the specific details of the loan," she said.

"This dynamic often changes though based on couple's occupations."

"For example if the female partner happens to be an accountant or business professional she may hold more influence with the decision making on the loan."