media release
21 September 2006
FOR IMMEDIATE RELEASE
Home loans – buy smart, don’t pay later.
CANNEX releases mortgage star ratings report today.
Now more than ever, shopping around will deliver major savings in the crowded home loan market. CANNEX’s review over 400
mortgages is the most comprehensive source of mortgage product insights.
According to CANNEX Mortgage Specialist Harry Senlitonga, “Consumers can save close to 1% by shopping around for
standard variable loans - this translates into $46,431.54 in savings over the life of the loan.” While it is understood
that there may be a trade off between cost and feature, CANNEX mortgage star ratings have revealed a good value for
money mortgage across financial institution in New Zealand.
“Other than looking at interest rate, borrowers should also resist extending their loan term to reduce monthly payments”
says Senlitonga. It’s a recipe for creating a loan that never dies, and is expensive life support in the end.
CANNEX helps consumers to do their homework by awarding star ratings to the very best products suitable to different
borrowers. CANNEX’s new consumer website helps consumers to shop around for mortgages and other banking products offered
by more than 450 financial institutions.
ENDS
Download the CANNEX mortgage star ratings report - www.cannex.co.nz