How Joust Could Get You A Better Rate On Your Home Loan

Are you looking for a better interest rate on your home loan? Did you know it is easy to put the banks to the test and maybe get a better home loan interest rate?

Joust helps many Australians get a better rate on their home loan by creating a dynamic online marketplace for banks to compete. Banks Joust to win your business.


Joust matches good-quality, low-risk home loan customers with our lending partners.

Our lending partners are challenging each other, bidding for your business. They Joust online with great interest rates to win the right for your home loan business.

Joust gives you, the consumer, the power to get a better discounted home loan interest rate. 

Starting a Joust is easy and free. Jousting online is simple. It takes approximately 3 minutes to input your profile and you can start from a computer, phone or tablet.

Joust for a better home loan rate without a mortgage broker

So why should you use Joust?

These five differences potentially enable Joust to get you a better rate on your home loan.

1. Removing the middle man.

Joust eliminates the middle man from the transaction and lets the lenders bid online to you directly.

This results in lenders not having to pay a traditional mortgage broker trailing commission. Banks can offer lower home loan rates because they aren’t paying high fees to mortgage brokers.

Banks do approximately half their business through mortgage brokers and the other half of loans through their branches, direct to customers. Trying to attract direct customers is an expensive way of securing loans.

Banks have costly infrastructure, staff, branches and advertising to attract the right customers. All this adds up and creates a high cost of doing business.

By removing the costly middle part of the home loan value chain process, this allows lenders to be more competitive with their bids. Consumers can then get cost savings passed directly to them. 

2. Joust gives good consumers a marketplace to drive competition.

Joust provides you with the ability to create competitive tension.

When you start a Joust, you are telling lenders that you're interested in finding the best home loan rate.

You make the rules.

You can use the Joust auction, to determine parameters of your loan and set how long the bidding process lasts. Jousts can be as short as 24 hours, but no longer than three days.

The lenders then compete to outbid each other. The better profile you offer to the competing lenders, then the greater likelihood of competitive tension.

The banks Joust and their lower interest rates are bid direct to you.

Our lenders want your business. Competitive tension means that they do not want you to go to a competitor. They Joust and they bid with some of the best-home loan interest rates available to win your business.

3. Joust rewards good customers with sound credit history.

Joust rewards good customers. Customers with a good credit score, a steady income and a minimum of 20% equity or deposit are ideal. This is often referred to as an 80% loan to value ratio (LVR). Banks want reliable and low-risk customers to take out a loan with them. The Lenders are more likely to be more aggressive in their bidding to win these customers.

At Joust we believe that no two home loans should have the same interest rate. There are too many factors that make each customer unique.

Our Joust lenders will see your:

  • Requested loan amount
  • Existing equity/deposit
  • Equifax credit score band
  • Postcode of your property
  • Year of birth
  • Occupation 
  • Employer

Lenders use this information to bid with a very competitive personalised interest rate on your home loan.

The more attractive features of your profile they see, then the more aggressively they will Joust to win your business.

Joust acts like a home loan calculator to get you a better home loan interest rate

4. Joust is free for consumers & has no obligations attached.

When you start a Joust, there is no commitment, plus it is free to use. Joust is not a home loan broker. 

Joust is providing a digital marketplace for banks to compete in the same way eBay is offering you with a place to sell items.

We charge low fees to the banks to access the marketplace but Joust is free for you to use. We are a matchmaking service providing a market for lenders to find best-fit consumers.

During your Joust, you will be presented with your own leaderboard.

If you select a bank and complete your home loan with them, we receive a one off 0.20% success fee from the bank. This success fee is significantly less than the average mortgage broking up front fees and trailing commission.

5. You will only get contacted by the winner.

You do not have to accept a bid if you are not ready for a new home loan.

You declare the winning bank, and only that lender receives your contact details. So a lender will not be able to contact you unless you declare them the winner at the end of the Joust.

This means no unexpected phone calls, no unexpected emails, and no pushy salespeople or middlemen. 

Declaring a winner of a Joust is not a commitment. Declaring a winner of a Joust means you would like to be contacted to discuss this great rate and proceed with the application. 

You can Joust once every 30 days.

Discover How Joust Works


The Joust Home Loan Calculator
At Joust, we want you to get the best home loan rate possible by creating a competitive home loan marketplace. 
Using the disruptive, fin-tech digital Joust platform, the banks bid for your business. Competition means you get a better home loan rate. 
Joust is a private company, with the management team having almost 100 years of combined banking experience in the Adelaide, Sydney and Melbourne Home Loan Markets. Between us, the team has worked for Westpac, CBA and NAB in the past, but Joust is not affiliated with any bank. 
By creating competitive mortgage pressure amongst the panel of lending banks, chances are a Joust can get you some of the best home loan rates available in the market. Joust gives you a dynamic and simplified way to compare home loans. Check out our home loan repayment calculator and may the best home loan interest rate win!

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