Press Release 24 March 2010
Prepare for online home loan revolution
Prepare for online home loan revolution
Internet search engines have fundamentally changed the home loan market and helped Homestar Finance take the lead to win the top non-bank lender award two years running.
“Today’s customers are time poor and price sensitive, looking for smarter ways to do business online,” Homestar CEO Julian Mitton said.
“The success of interest rate comparison sites such as Infochoice, Ratecity and Mozo demonstrates just how price sensitive the market is.
“Whether booking a holiday on Wotif, buying a car on caresales.com or finding the cheapest home loan online, people want to know they are getting the best deal out there.
“Homestar has tailored its home loans to meet this online revolution and it is paying off. Our customers are happy, referrals are high and we are writing more and more home loans every month,” he said.
Homestar uses an automated application service which gives significant cost advantages because the transaction is initiated online without the need for brokers, commissions and related overheads.
The success of business websites such as Domain.com.au, Wotif and Webjet proves that technology generated leads are the way forward.
“People want to deal with any service provider on their own terms by either calling or applying on-line when most convenient,” Mr Mitton said.
“Then it’s simply a matter of cutting out the frustrations of banking. At Homestar we don’t put people on hold and you deal with the same person every time you call,” he said.
Mr Mitton said the most important thing when it comes to making home loan decisions is personal service and trust.
“Homestar would quickly drop off the radar if we didn’t deliver excellent service.
“We only hire top quality and highly personable people because our whole proposition is being the lender you can depend on.
“Homestar has been around for five years so people know the brand. But you need a stronger point of difference beyond the brand in this business so we set out to create a lower cost system online without dropping the ball on personal service and customer satisfaction,” Mr Mitton said.