Australians Should Switch Home Loans For Significant Savings: ACCC New Report

Australians Should Switch Home Loans For Significant Savings: ACCC New Report
Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims urges home loan borrowers to check the market regularly for the best deal. Reuters/Jason Reed
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The Australian Competition and Consumer Commission (ACCC) has found Australians with home loans would save more and be better off by switching to new lenders or negotiating a new loan with lower interest rates.

In a newly released report, the ACCC is urging mortgage holders to check the market regularly for thousands of dollars worth of savings after the report found that there was a phenomenon of older loans costing more than newer ones.