Why HomeStar
HomeStar is the 2010 Non-Bank lender of the year and a well-established lender with securely backed funds from major international banks. We provide very low rate home loans by conducting our business over the phone and on the internet.
About HomeStar
The HomeStar® group of companies were incorporated in 2004. The business has progressively developed in-line with the global trends to be a web and phone based home lending specialist.
HomeStar is a non-bank lender, but uses secure bank funds to its customers through its unique personal service and fast turnaround proposition. Without the costs associated with banks like branches, exorbitant executive salaries and huge marketing spend we are able to save you money.
The business has maintained a presence in Sydney and Melbourne since inception but offers its home loans right across Australia.
We are full members of the Mortgage & Finance Association of Australia (MFAA) and adhere to strict codes of conduct inclding the new responsible lending guidlines.
The business is 100% Australian owned and managed.
Our Awards - Non-Bank Lender of the Year 2010, 2009 and 2008!
HomeStar is a multi-award winning home lender. We have the unique distinction of winning Non-Bank Lender of the Year for the last 3years.
HomeStar is secure
A loan from HomeStar is as secure as a bank loan. In fact the money essentially comes from the same place. We lend money from some of the world’s largest and most secure banks, many of which also provide funding the major Australian banks.
Non-bank lenders have been prominent in Australia since 1992 and have had as much as 25% of the total market share of the home loan sector in this country. That means non-bank lenders have provided more than 1,000,000 home loans to customers in this country. That’s more than $300,000,000,000 in loans!
Why are banks so dominant?
Historically banks were the only alternative available to consumers seeking a home loan. By holding savings accounts they provide an easy way to ‘convert’ you to a home loan or for that matter a credit card. That is actually their true intention. They know people are reluctant to change banks and they make their money by having a long relationship with their customers. Most importantly they also know that by having so many intertwining relationships they can be lazy on their pricing and often are.
Most people think their bank is doing them a favour by providing a home loan. They also think the bank is giving them a good rate. The truth is this is almost never the case!
Responsible Lending
HomeStar is committed to ensuring our customers receive great value. For us great value is more than just the best price. It also means giving you excellent service by understanding your needs and carefully meeting your requirements.
Once we are in contact with you to see how we can best meet your home loan needs, we ask lots of questions about your financial situation. As a responsible lender, HomeStar aims to ensure our customers not only get the best loan for their needs but that the loan is appropriate for their personal situation. We follow strict procedures to ensure we have all the correct information to find the best home loan for you. Once we have found the best home loan for your needs we then ask for documents that support your application. These will be things like pay slips, tax returns and bank statements. These help us to verify your financial situation so that we can lend you an amount that is appropriate to your financial situation.
Our Management Team
The principals of HomeStar have more than 30 years financial services experience between them and have been involved in the retail banking sector since the inception of the non-bank lenders in Australia. HomeStar is run by experienced professionals with high integrity and ethics. We are committed to building a successful and sustainable business for the benefit of customers, suppliers and shareholders.