What's a Lender Rating?
Getting a loan is more than just a low rate and the right home loan features.
A lender must be able to provide you with an approval in a timely fashion and make sure that your loan settles on time with a minimum of fuss.
Lenders that can provide quality products at low prices with great service should be recognised and that's what the Ziggy Lender Rating system does.
Lenders are ranked by Ziggybid borrowers so you know what other borrowers think of them.
As an example let's say that you need your loan approved by the weekend, so you can make an offer to buy your dream home, otherwise it will be sold to someone else. Regardless of how good a loan is it is no good to you if the lender is going to take three weeks to look at your loan let alone approve it.
As a Ziggybid borrower, you get to set the terms of your auction letting lenders know what you want and when you need it. If the cheapest lender in town is the busiest and is taking ages to approve a loan, you can go to the second best lender to get what you want.
Similarly if a lender has a history of bidding on loans that they don't approve you can elect to go with a more proven and professional lender.
Lenders are rated on 4 key areas:
- Getting a loan approved on time
- Settling a loan on time
- Success rate of bids won
- Feedback ranking from Ziggybid borrowers
So at Ziggybid not only do you know you're getting the right home loan you know that your getting it from the right lender.