In the US and the UK most people know their credit score and are able to use it to negotiate more favourable loan terms. Right now in Australia – we are way behind.
Very few of us know what our Credit Score is and until Joust arrived in the Australian home loan market – there wasn’t a smart way for customers with good credit scores to obtain the home loan interest rate they deserve.
Right now in Australia – we are way behind
The home loan market in Australia is extraordinarily large. It is estimated to be worth $1.4 trillion and approximately 800,000 new home loans are settled in Australia every year. However, the Home Loan market in Australia is far from perfect.
800,000 new home loans are settled in Australia every year
Good customers who have stayed with the same bank for many years may be paying too much, whilst lower quality customers who represent a higher risk for banks frequently do not pay enough.
Here is where digital technology and a truly transparent online market place can fix these imbalances. Consumers with a good credit score can input their details to Joust and within minutes have Banks around Australia bidding for their home loan business – straight back to their mobile.
When good customers discover the fully transparent digital market place created by Joust they can benefit from their good credit history. Banks love good customers with an excellent payment record. Via Joust – these customers are being rewarded with live competition resulting in discounted interest rates offered on home loans. This results in an optimal outcome for the customer and an optimal outcome for the Banks. A marketplace that delivers optimal outcomes for all market participants is the definition of a “perfect market”.
World First Technology
Joust is extremely proud of it’s “world first” technology that creates a digital market place for home loan customers and lenders in Australia. So get on and use your good credit score to your advantage. Ultimately every customer should obtain the price that they deserve in a perfect market. The Joust platform continues to resonate with customers and the banks. Joust is leading the next revolution in retail lending in Australia.
Make sure that if you have a good credit score – you are not missing out. To find out more about how joust works – click here.