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The (nearly) 5-star finance company
Parker Lane is rated 4.9 out of 5 on ProductReview.com.au from hundreds of reviews for helping thousands of households each year
Why Australians refinanced $16.4 billion last month
It's not going to be pleasant! But when even small changes are made to your home loan, big things happen. That's the power of compounding interest. This page is dedicated to dispelling some of the myths banks use to maximise their profits (at your expense).
Cut your losses on excess interest
Turn big bank profits into more fun money for you
Be free of debt years sooner
A fraction of a % can reduce your loan term by up to 3 years
Cash out or consolidate
Get started on those bathroom plans or pay off other loans
1. Calculate your savings
2. Book a quick call
In just 15 minutes you'll know the best plan to achieve your goals
3. Start saving
Leave it to us - you'll be saving in 2-4 weeks
(won't affect your credit score)
How does better finance work?
Parker Lane reverses the traditional finance model. We start with the biggest problems first, understanding the challenges then working with banks and lenders to create superior products and solutions. Our easy process and incredible team make it simple to apply, get approved and get on with life - fast.
$450M+
funded to date
We help thousands of homeowners and buyers each year
2.23M tons
of carbon offset
From projects financed. Equivalent to planting 3.55 million trees.
$26M
back in Aussie pockets
On average customers save $43,504 with Parker Lane
The #1 reason people miss their financial goals
They think of their money relatively.
Consider this... Would you rather walk 2 minutes to get a $20 pen for half price, or 4 minutes if the assistant told you the $2,450 TV you're buying is $2,430 down the road?
$20 off a TV mightn't mean much because you don't buy them often. But a home loan never sleeps and a higher rate is like dropping money from your pocket every day of the year.
The hidden cost of where you focus
Most of what you earn goes towards things you can't really avoid - like taxes, insurance, groceries and even takeaway are all essentials for modern life.
When it comes to being better off, measuring savings as a percentage of what's left over - your fun money - can put things into perspective.
Iceberg displays an example household of 2 adults and 2 children, combined income of $186,000 + super, $650,000 home loan and $65,000 car loan. Living expenses based on the 'Housing Expenditure Measure' used by banks to calculate minimum household costs.
A small rate drop wont do much...
Reducing your interest rate by just 0.30% (e.g. 6.30% down to 6.00%) will result in paying 18% less interest for the same 30 year mortgage.
That's the power of compound interest. And it matters when you do it too. More than 25% of all the interest you'll pay is in the first 5 years.
I'm loyal to my existing bank
A $50 note may be known as a 'pineapple' but unlike the fruit, every dollar holds the same value - regardless of the bank you borrow it from.
Money isn't branded. Every dollar has the same value no matter which bank you borrow from.
It isn't difficult. Changing loans takes as long as two trips to the grocery store.
It isn't complicated. You're not alone. We help 100's of Aussies every month to save money and get ahead.
(won't affect your credit score)
3 strategies to boost your fun money
Lock-in future rate drops now
Banks fund fixed rates from long-term money markets, where investors compete to predict future interest rates. You could lock-in a lower rate months or even years before the RBA brings down variable rates (if at all).
Go low-rate variable and follow the RBA
Not all banks are obsessed with profiting at your expense. There are banks with the same government protection as the big-4 where customers are shareholders and profits are returned by way of lower rates.
Split the difference and win both ways
In the same way as investing in stocks, you might not want to put all your eggs in one interest rate basket. Fixing a portion fixed and leaving the remainder variable could provide you with the best of both worlds.
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More rewards for green households
Going green may be good for the neighbourhood, but it's great for your wallet too. Here are some special offers to save you even more.
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Book a Call
Take the 15 minute challenge
Book a 15 minute home loan health check and receive a free bank valuation valued at $450.
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