Report: Laziness, loyalty and fear. Why Aussies don’t switch loans

UNO home loans

Australians’ laziness, loyalty and fear is costing the average home borrower who doesn’t switch more than $14,000. Our data shows potentially more than 60% of Australians fall into this category.

We were shocked that one in seven Australians wouldn’t change their lender no matter how big the savings on the table.

So why are Aussies so apathetic when they know it’s costing big bucks?

We dug deep and uncovered…

The cost of apathy, there's a big cost in not switching

Non-switchers are penalised for their apathy – with higher rates of 13 basis points more on average.

Many Australians are fiercely loyal, spending a long period on the same deal and opting for well-known lenders.

Aussies are quite happy to pay for their laziness

Aussies are uncomfortable with having our finances reviewed

The myth of exit fees turned nearly two thirds off switching loans

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UNO home loans

TESTIMONIALS

What our customers are saying

Gabe Windsor

October 26, 2023

What a fantastic experience using UNO Home Loans. Mike Parsons and the team were exceptional. Such an easy, hassle free experience, cannot recommend them highly enough. Mike Parsons was in touch every step of the way, and with him doing all the leg work, the transition to a refinanced home loan was a very easy one. Thank you!

Laurisa Sticotti

July 1, 2023

Scott Wilkinson has been fantastic when dealing with my broking needs. He has held my hand through every step of the way and has made purchasing my first home a much more comfortable experience than I anticipated.

Thusi Gamage

July 1, 2023

Awesome team, Very reliable and friendly. Scott Wilkinson is very experienced and knowledgeable.He guided us throughout the process and was available to help.

Omar Zazou

June 1, 2023

I have worked with Scott Wilkinson to get my home loan and he has been a massive help to navigate my first home purchase. He has taken care of all the financial details and I didn't need to worry about anything. Highly recommend him for his professionalism, patience and support!

Kelly O'Connor

June 1, 2023

You won’t find any broker better than Anita at UNO. We’ve told all our friends and family about her and will be using her for all our mortgages in the future! A stress free process from the start. She listened to our needs and was always available.

Ashley Morson

We are truly grateful for uno home loans and our broker Karis Churchill. This is our second time purchasing a home with the help from Uno and both times have been a very positive experience. Our recent purchase had many obstacles due to different factors however it was our dream home and we were up for the challenge. Our broker Karis was a true support and went above and beyond. She communicated so well with our solicitor and the real estate agents. She kept us updated through every step and kept us motivated when things seemed impossible. Uno is very fortunate to have Karis as a broker and we would highly recommend her to anyone. Our family are so happy we are now in our new forever home. Thank you so much Karis and to the uno team!!!

Ebubekir Demir

Thank you Eren for your quick and efficient turn around time to getting an approval for a loan. Will be recommending you to anyone that needs a quick and reliable loan.

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