Raiz Home Ownership gives Raiz customers access to qualified home specialists who can guide them through home loan products from up to 50 banks and lenders and negotiate with them directly.
Raiz Home Ownership is also part of the Raiz Rewards program, so for every home loan settled through the platform, Raiz will invest $300 into the customer's Raiz Invest or Raiz Super Account upfront.
While the loan is outstanding, Raiz will also invest $12.50 a month into Raiz Invest or Raiz Super.
Related: Micro-investing platforms compared.
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.08% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
6.09% p.a. | 6.11% p.a. | $3,027 | Principal & Interest | Variable | $0 | $250 | 60% |
| Promoted | Disclosure |
CEO of Raiz Invest Australia Brendan Malone said Raiz Home Ownership is a natural evolution for the company.
“Raiz customers typically open their accounts between 18-24 years of age, before they are in a position to purchase a home," Mr Malone said.
"But once they are ready, they may take all their investments to put towards a deposit for a home and may or may not continue to invest through Raiz Invest and instead put more towards their mortgage in offset.
“Raiz Home Ownership allows our customers to continue to invest in Raiz, either by round-ups or through the upfront reward and the $12.50 payment each month.
"This keeps them connected with the community and lets them continue to learn more about investing, markets and general financial literacy."
Raiz Home Ownership can be used by Raiz customers who are saving for a mortgage or who have already saved a deposit, as well as for those looking to refinance.
“Around 66% of the people we have engaged have been First Home Buyers and we are focusing our education on this group,” Mr Malone said.
“Our incentives being offered we believe are competitive and keep customers within the Raiz ecosystem.”
See also: Raiz's personalised 'Custom' portfolio launches.
Since Raiz Home Ownership was launched earlier this month, 46% of leads progressed have been for first home buyers and 54% for refinancing.
Mr Malone said the service walks customers through the application process and beyond.
“The Raiz Home specialist team will call the customer at least once a year to check in and assess their situation, which is not typical for lenders at this end of the market," he said.
“We are taking the pressure away by guiding customers through the lending process. Our team will negotiate with the lender and will provide options to ensure a smooth experience to get people into a new home or refinance an existing loan."
Photo by Jaye Haych on Unsplash
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