In the survey conducted by HomeLoanFinder.com.au of over 2,000 people, one in three said they are scared they won’t be able to make repayments on their homes.
30% of Australians also said they wouldn’t compare home loans, when taking the leap to buy a property.
HomeLoanFinder.com.au is urging Australians to fight the fear by arming themselves with a deeper knowledge of the market and comparing home loans to ensure they find the best deal for them.
Jeremy Cabral, Publisher of HomeLoanFinder.com.au says, “Aussies are unaware of the opportunities they miss out on by not comparing the various offers on the market. It is costing them more by not shopping around to get the best deal.”
Of those surveyed, 47% of respondents had downloaded a banking app, and 52.2% said they plan to download a banking app in the next 12 months. And 35.2% use a mobile app to search for rental property, or to purchase properties, with 74.1% carrying out property searches on their smart phones.