Joust gets banks and lenders to bid against each other to help get you the best home loan rate. It takes just 3 minutes to set up, is free to use and won’t affect your credit rating.
Here’s how Joust works.
1. Set up your Joust
You’ll need to enter some key info:
To ensure we get you the best rate available, make sure all information entered is correct as this information is also used to obtain your credit score. Your credit score will help lenders determine your creditworthiness for a mortgage and if the information entered is incorrect your Joust won’t register with the lenders. The higher your credit score, the harder lenders will compete to get you the best home loan rate.
• The desired value of the loan
• Employment information
• Your name
• Your income
• Your current address
2. Watch lenders battle
A Joust is effectively a reverse auction – banks and lenders bid against each other in a battle to win your business.
Each bid has to be lower than the previous bid. The auction goes for up to 3 business days and you get to watch the bidding online as it happens.
3. Your choice
At the end of the Joust, there is no obligation to proceed and your personal information is only provided to the winner.
Joust is free to use and won’t affect your credit rating. There’s no pressure. No strings attached. Just access to the best rates going.