Why 15.4% of people said they would NOT switch lenders for a better rate…

Our Website Re-launch Giveaway is ending on May 31st.

This is your last chance to win the $100 Load&Go VISA Prepaid Card – that’s as good as $100 cash!

So far we have 36 entries so your chances of winning are quite high!

To enter go to: http://www.urbantechgroup.com.au/urbantech-updates/website-re-launch-giveaway/ and sign in with your facebook account or your email address.

On another note we’ve been running a Survey on our website for the last month. The survey asked the simple question: “Would you switch lenders [ie. refinance] if you could get a better rate on your home and/or investment loans?”  Not surprisingly the overwhelming response was ‘Yes’ [84.6%], after all who wouldn’t want to save themselves money!

Interestingly 15.4% of people surveyed answered ‘No’ – why do you think this would be? Doesn’t seem logical does it?

Well it’s not, and it doesn’t surprise me either.

People are generally motivated by two [emotional] factors; the avoidance of pain or the pursuit of pleasure. So while most people are happy to pick up any savings they can [pleasure], others perceive switching lenders to be a painful and time-consuming process [ie. updating direct debits and work wages, learning a new internet banking system, visiting a new bank branch etc.]

So you now understand why banks are so aggressive in trying to cross-sell you as many products as possible – ie. credit cards, term deposits, life insurance, home & contents insurance, business overdrafts, financial planning, share trading accounts etc. It’s not because they ‘care’ for your financial well-being, it’s because they want to make it harder for you to leave them!

Thankfully in the vast majority of cases switching lenders is a simple and painless process.

Keep in mind there’s no point switching lenders for the sake of it – only consider switching if you can achieve a significant saving on your loan/s.

We can help! – If you want to know whether you can get a better deal simply book a complimentary finance & wealth evaluation or call us for a chat.

P.S. Have you been visiting our website? Did you know that you earn 100 reward points every time you visit a page or post on our website? [note: you will only be rewarded with 100 points once per day for visiting our website].

To claim your reward points all you need to do is join our Rewards Program – just sign in with your Facebook account and the system will remember you each time to visit to ensure you build your points tally. Once you have enough points you can redeem them for a range of brand name gift cards. Go check it out…

Sam @ Urbantech Group