IMB Building Society has been awarded the maximum five stars for four of its home-loan products by Canstar in its latest home-loan product review.
The Canstar five-star rating was awarded to IMB’s Budget Loan, Introductory Variable Loan, Essentials Loan and its Platinum Package (variable) Loan.
IMB was the only Illawarra-based lender with any five-star-rated variable home loans and was the lender with the most five-star-rated variable home-loan products in Australia.
Chief executive Robert Ryan was delighted with the rankings.
The latest home-loan ratings were in addition to the five-star ratings IMB already held for its DIY Super and Cash Management deposit accounts.
Mr Ryan said it further confirmed IMB offered better-value banking for its members.
‘‘This is great news for IMB and even better for our members and consumers in the market for a home loan.
‘‘To be recognised as having the most five-star variable-rate home-loan products in Australia is positive proof of the value in our extensive product range and competitiveness when compared to other financial institutions,’’ he said.
‘‘I would urge home buyers or those looking to renovate or refinance to consider IMB when they are making a decision about which home loan product is right for their needs.’’
Canstar Finance analyst Lilith Bohler said with interest in the property market booming right now, buyers needed to remember a home loan was a long-term commitment.
‘‘Our star ratings are designed to help buyers easily compare the various loans on offer and to recognise outstanding-value products that will suit their needs.
‘‘IMB stood out for its competitive variable-rate home-loan products and we congratulate them on their five-star achievements,” she said.