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Our Guide to Winning at Home Loan Negotiations

Pro tips for negotiating lower home loan rates with your bank. Empower yourself today for big savings!

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Hey there, savvy homeowners! Ready to give your home loan the Craggle touch and snag a killer deal? It's time to show your bank who's boss and work towards that sweet, sweet goal of more cash in your pocket. Here's how you can be a home loan hero:

Flex Your Loyalty Muscles:

  • Why It Works: Banks totally dig loyal customers. They know you're more likely to stick around and try new stuff with them.
  • Game Plan: Whip up a snazzy summary of all the awesome times you and your bank have had together, as well as the other stuff like deposit accounts or credit cards you have with them. Make your loyalty shine!

Become a Rate Detective:

  • Why It Works: Knowing what other banks offer gives you the upper hand. Banks hate losing customers to the competition.
  • Game Plan: Do a bit of homework on rates from similar banks. Keep it apples to apples – no comparing big banks to those trendy digital-only ones.

Flaunt Your Improved Loan-to-Value Ratio (LVR):

  • Why It Works: A better LVR means you're a safer bet for the bank. Lower risk for them equals better deals for you.
  • Game Plan: Show off how your property’s value has soared and your loan's shrunk. Real estate websites are your new best friends for this.

Prove You're a Payment Pro:

  • Why It Works: Banks love it when you pay on time, every time. It shows you're as reliable as a kangaroo on a morning hop.
  • Game Plan: Present a flawless record of your payments. It's like a gold star for adults.

Highlight Your Extra Efforts:

  • Why It Works: Extra repayments? That's showing you're serious about ditching debt faster. Banks respect that kind of commitment.
  • Game Plan: Bring out those records of your extra payments. It's like flexing your financial muscles.

Craggle's Top Tips for Negotiation:

  • Be Bold and Prepared: Walk in with all your facts and figures. Confidence is key!
  • Speak Clearly, Aim High: Tell them what you want and why you deserve it.
  • Keep an Open Mind: Aim for the stars but be ready to land on the moon.
  • Don't Be Afraid to Show Some Teeth: If they don't budge, hint that you might jump ship to another bank. Sometimes a little nudge is all they need.

Remember, this isn't just about getting a great rate. It's about showing your value and making sure your bank knows you deserve a fair go.

Need some help?

That's where Craggle comes in, not only will we handle the negotiations on your behalf we will also leverage other customers like you to lift our bargaining position and all at absolutely no cost to you. Sign-Up today to our next Crowd Haggle and sit back and relax while we show our collective teeth!

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Disclaimer: Unless otherwise specified, the opinions expressed in this article are strictly for general informational and entertainment purposes only and should not be taken as financial advice or recommendation. Views are subject to change without notice at any time.

Written By


The Craggle Team

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