This Valentine’s Day, play the field with your interest rate and trade up to a lender that loves you back

When couples cheat, it’s usually seen as scandalous. But when it comes to home loans, being unfaithful can actually be a good thing. Double-crossing mortgage holders – that is, those who shop around for a better deal – pay 30 basis points less on their home loan than those who stick to their current interest rate, UNO Home Loans has found. Research conducted by Core Data on behalf of UNO found 70% of Australian men and 60% of women ‘play the field’ and look for better offers than their current lender can provide. Those who do, ultimately end up paying less over the life of the loan ($1,092* per year on a $500,000 mortgage or $32,760* over a 30-year loan) than those who stay faithful. “Banks don’t always love you back for blind loyalty and not looking over the fence can have a significant cost,” UNO Home Loans chief executive Vincent Turner said. The survey of 1500 Aussie mortgage holders found homeowners who compare their rate against the market every six months tend to have an average interest rate of 4.27% compared to the 4.58% interest rate paid by those who resist the temptation to look elsewhere. Interestingly, male homeowners are more likely to cheat on their lender than women: 70% having a wandering eye compared to just 60% of female homeowners. Turner said the suitability of a home loan can change depending on a customer’s circumstances so it’s important for home owners to review their rate periodically to ensure it’s still suitable. “You may have drifted apart from your lender over the years and they may not suit your current needs – it happens,” he said. “Interest rates are sitting at low levels, so it’s a great time to play the field with your home loan rate and trade up to a lender that loves you back.” Find a deal

Key research findings**

  • 65% of Aussie mortgage holders compare their home loan interest rate against the market while a faithful 35% say they never compare
  • 70% of men look at other options compared to just 60% of women
  • Average interest rate of homeowners who compare their rate every 6 months: 4.27%
  • Average interest rate of homeowners who compare their rate every 12 months: 4.39%
  • Average interest rate of homeowners who never compare their rate: 4.58% *Calculation by UNO Home Loans comparing the mean interest rate of 4.27% among mortgage customers who compare their rate every six months with the mean rate of 4.58% among those who never compare using a $500,000 principal and interest loan over a 30-year period**Research conducted by Core Data on behalf of UNO as part of a study of 1,500 Australian mortgage holders.Book a call in with UNO
Book Call Now

Book Call Now

UNO home loans

Need help with your home loan?

UNO Brokers are available night and day for a quick review or your situation and bring expertise that will support better decision making that will save you time and money. Book in a quick call when it suits your busy schedule

Get Started

Related Articles


What our customers are saying

Marlon Baena
July 22, 2024
Karis dedication to assisting with our home loan, even while I was on holidays, truly exemplifies a commitment to excellent service. It's the small things that often make a big difference, and it seems Karis attention to detail and clear communication were key to our smooth home purchase. I highly recommend using UNO and Karis for your home loan needs.
Read more
Olivia Gill
July 18, 2024
We recently used UNO Home Loans to assist us with securing our new mortgage in AU (had moved here from NZ). We had Michael Parsons as our mortgage broker and he was extremely responsive and helpful the whole way through the process. Was a great experience and definitely recommend :)
Read more
Yash Karma
July 18, 2024
Andrew Wyers and team have been amazing. Andrew is very knowledgeable, offers practical advice and he has been pivotal in helping me secure a mortgage at a very competitive interest rate. He was highly responsive to my queries and,being a new immigrant to Perth, he was very patient with my many many questions. An added benefit for me was his knowledge of how superannuation here works. A hec of a great guy to work with, reliable and he goes above and beyond. I would recommend highly recommended him, especially for new immigrants. In fact, I will be using him again very soon!
Read more
Rosie Deiath
July 2, 2024
Karis from UNO was so supportive throughout the entire process of buying our first home. She was contactable at any time, and answered all our silly questions for us. We couldn't recommend Karis and her team enough, as it always felt like she was in our corner with our best interests at heart.
Read more
Jack Mikkelsen
July 2, 2024
We dealt with Karis Churchill as the mortgage broker for our first home. Karis was so supportive and knowledgeable through the whole process! A+ mortgage broker. Definitely utilise her expertise if you’re buying a house!
Read more
Kapil Baldota
June 25, 2024
Eren Tan is absolutely one of the best mortgage brokers in Melbourne! Keeping us well informed throughout the process. Eren gave us a helpful hand in managing to get our loan over the line in a quick and efficient way which is what we wanted and he delivered on that. Thank you Eren Tan!
Read more
June 21, 2024
I only have praise from my Uno experience! I was a broker sceptic, having done all of the hard work myself for my first two property purchases and sale. I'm now a proud broker advocate having used UNO (Karis Churchill) for two refinances and purchase. The value add Karis brought cannot be underrated! Not only has Karis got me the best rate, with a bonus cash back (nearly unheard of in this climate), she has done it with the least back-a-forth and with the least administrative burden on me (the thing that can deters people from refinancing to begin with). Karis is always on top of everything. Karis knows her stuff. She is the most responsive of any professional service provider I've ever used (my banker never text with an update at 7pm on a Sunday) without being overbearing. You know she's got your back and in my experience the value speaks for itself. Thank you to the whole UNO team, thank you especially to Karis.
Read more
Leanda Cawdry
June 8, 2024
Very pleased with the outcome of this process, Michael Parsons and his team at UNO were helpful, communicative, and took all the stress out of the process of finding me a refinance deal that met my needs. Would definitely recommend Michael and UNO, and I already have!
Read more
Glen Matthews
May 29, 2024
Regarding UNO Home Loan services. I had great experience with uno home loans, Michael parsons was my broker for UNO Home Loans we had excellent communication throughout the whole home loan application. If I had any questions on home loan application which were many were answered in great detail. He had the time to assist me in filling out endless application forms at anytime through the day or night which made the application process stress free. So I would strongly recommend Michael parsons from UNO Home Loans to try his services you will not be disappointed. Thanks to Michael parsons I have the lowest home loan interest rate I could ever hope for which I particularly ask for. It’s was a pleasure working with him. And will be using his services in the near future.
Read more
Gillian Anderson
May 28, 2024
Thank you to Michael and UNO for their help in securing our home loan. I like the way they break everything down in simple terms to ensure that you can make the right decision. Michael was polite and very patient to help us get things across the line. We are now sitting in our first home away from rental circus. Can't recommend them enough. Thanks Michael and thanks UNO
Read more
Andy Song
May 17, 2024
Amy has been absolutely wonderful as a broker. I would not hesitate one bit in recommending her services.
Read more
Troy H
May 13, 2024
Scott Wilkinson did a great job as my broker. He was very patient and always happy to answer my numerous questions throughout the considerable period of time that it took to secure a suitable property. Would certainly recommend Scott and the team at UNO for anyone seeking a broker.
Read more