First Australian Is A Much Better Alternative To Bank
Key Differences
There are many differences between Bank Loans and a First Australian Loan. Immediately you start talking to us - you will experience the difference. The average bank mortgage has a life of about 3.5 years - yet at First Australian most of our Borrowers are still with us. This speaks for itself. There are many differences - we're listed a few here.
Q. Isn’t a bank loan safer because the bank is a bigger organisation and has branches everywhere?
A. No, in fact the size of the Lender does not determine safety. Larger corporations/institutions are generally impersonal and much harder to deal with, than smaller organisations. A First Australian loan is held by a Trustee on your behalf and unlike a bank loan, your loan cannot be reviewed because your circumstances have changed.
Q. Aren’t they better because I’ve heard of them and they advertise on TV?
A. No, in fact the bank spends money it makes from its customers in advertising and branding itself, so that you are familiar with its name and therefore are comfortable purchasing its products. Banks are large, profit based corporations and no different, or more trust worthy, or reliable than any big company.
Q. What about other borrowers - what is the average life of a residential loan in Australia?
A. The average length, or life of a bank home/investment loan in Australia is about 3.5 years. This speaks volumes about how bank customers actually perceive the bank i.e. bank customers enter into 25, or 30 year loan contracts and leave after 3.5 years – this is a plain expression of discontent with the bank and it applies to all banks. At First Australian, most of our loans are still running and rarely do people discharge. This speaks volumes for us. If our existing Clients are loyal to us, we must be doing something right!
