Aussie Home Loans Enter Personal Loan Market

9 October 2007

Australia's largest home loan brokerage firm, Aussie home Loans, who compare hundreds of mortgages and home loans to find the best home loan for you, have moved into the personal loan market with the announcement made by Chairman and CEO of Aussie, John Symond.

Symond said in a statement that, "Aussie's fixed rates, low fees and trusted brand will bring a new level of competition to the car and personal loan markets."

He expects the Aussie business model will ensure it can offer interest rates that are up to two per cent lower than other lenders in the personal loan market.

"Aussie has a unique and robust business model with a combination of mortgage broking, our own home loans, the Aussie MasterCard and now personal and car loans. In a time where others seem to be retreating, we are taking a step forward with these two new products," he said.

With personal loan applications continuing to rise and currently worth $2.5 billion a month, Aussie has timed its run on the personal loan market just right.

Symonds is confident that consumers will warm to his company and take advantage of the lower interest rates.

Aussie will offer personal car loans for new or used cars from dealers, private sellers or at auction. Personal loans will also be available for boats, caravans, motorcycles and trailers. Business hasn't been forgotten with a commercial lending facility also being introduced by Aussie.

He was also optimistic that the personal loan section would also attract business citing that it was cheaper for customers to use an Aussie personal loan instead of their credit card.

"Putting expensive purchases such as a holiday or home renovations on a credit card can be a very costly mistake,"

"A Personal Loan from Aussie offers a trusted alternative for all Australians, so they can borrow smartly and with confidence, knowing they have the right type of loan to meet their needs" said Symond.

Car and Personal Loans are available through Aussie from Tuesday October 9, 2007.