How Joust works

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.

Set up your Joust

You’ll need to enter some key information. 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 and brokers determine your creditworthiness for a mortgage and if the information entered is incorrect (even a little typo), we won’t be able to create a Joust for you.


Watch the bids roll in

A Joust is effectively a reverse auction where banks and lenders bid against each other to win your home loan. Once your Joust is live, all of your bids will be displayed on your leaderboard and once you like the look of a bid, you can declare a bid or multiple bids at any time.


Your choice

At the end of your Joust, the winning lenders and brokers will connect with you to get the ball rolling and discuss the offer and next steps in more detail. And because declaring a bid is obligation-free, there’s no obligation to proceed and your credit score isn’t affected.


To get the most out of your Joust, a great Joust profile meets the following requirements:

A healthy credit score

Your credit score lets lenders know how financially fit you are for a mortgage, determining your creditworthiness and demonstrating how responsible you are with money.

A steady income

Your income indicates your capacity to repay a home loan. A steady income is an important factor that lenders and brokers consider when offering better rates to help you save money during the life of your loan.

At least 10% equity or deposit in your home

Lenders and brokers can reward you for having higher equity with their best home loan rates. If you’re looking to refinance and have a minimum of 20% equity in your current residential home or a deposit of 10% or greater for a new purchase, our partners could compete harder with better home loan interest rates.