Canstar Home Loans Star Rating 2017
CANSTAR Home Loan Star Ratings uses a sophisticated and unique rating methodology that compares both cost and features across home loan products. CANSTAR star ratings represent a shortlist of financial products, enabling consumers to narrow down their search for products. CANSTAR Home Loan Star Ratings are a transparent analysis comparing different types of home loan products.
“Reduce Home Loans has had products in the top 10% of Canstar’s Home Loans Research since March 2016” – Kevin Smart Canstar
Reduce Home Loans General Manager Josh Beitz said, “Retaining a Five Star Rating for Outstanding value for the 4th consecutive time, is a real acknowledgement that we deliver on our promises to provide our customers with competitive products and first-class service. Most importantly, this is an acknowledgement of our continued dedication and focused effort over the years to be in a leading position for the best interest of our customers and we promise to continue to work hard to make sure our customers have access to the very best value home loans possible.
What is the CANSTAR Home Loan Star Rating?
CANSTAR Home Loan Star Ratings uses a sophisticated and unique rating methodology that compares both Cost and Features across home loan products. CANSTAR star ratings represent a shortlist of financial products, enabling consumers to narrow their search to products. CANSTAR Home Loan Star Ratings are a transparent analysis comparing all types of home loan products. Ratings range from five- to one-star. Five-star rated products have been assessed as offering outstanding value to consumers. Rising Stars are products that would be rated five-star but have not been in the market for six months; these products will be formally rated in the next report once more historical data is available.
How is the CANSTAR Home Loans Star Rating structured?
CANSTAR Home Loan Star Ratings consists of two separate star ratings, one individual and two overall profile. The Individual Profile Star Ratings analyse the performance of home loans based on different loan amounts, product types and consumer profiles. The Overall Profile Star Rating analyses home loans that perform well across the Individual Profile Star Ratings and takes the weighted average of different loan amounts, profiles and product types to determine the outstanding value home loans. The rating process for these two-star ratings employs a separate star rating methodology consistent with the pricing and features model of the CANSTAR star ratings.