Joust Instant Match
Frequently Asked Questions (FAQs)

Is it secure to use Joust?

Yes.

We take security extremely seriously, as such we have invested heavily to be compliant and adhere to bank grade security.

The information we collect from you is used to provide an indicative offer tailored to you.

For more information on on how your personal details are securely protected, please refer to our Privacy Policy Statement.

Is Joust free to use?

Yes.

Joust It is completely free to use and there’s no obligation or pressure to proceed.

It is simply an easier way for you to find a better home loan suited to you, without the run around.

Should I use Joust to refinance my current mortgage?

Yes.

There’s every chance that your existing mortgage interest rate is higher than what could be available in the home loan market right now.

Regardless if you have a fixed or variable interest rate, you may be paying more than you need to on your current home loan.

Joust is a free tool to help you find lower home loan rates currently available in the market.

Am I obliged to take up the offers matched to me?

No.

When we are able to match a loan product with a loan profile, the lenders matching your loan criteria will be notified, and our system will facilitate the exchange of contact details for both parties.

The lender will then have to complete their own internal assessments to satisfy responsible lending criteria and product suitability based on verifiable information.

At any point, you can choose not to proceed if you feel that the product or lender is not right for you.

How is Joust paid?

We receive a flat fee each time a lender or broker receives a match to a loan profile that has been created on the Joust Instant Match product.

Does Instant Match access my credit file?

No,

We do not access your credit file or check for your credit score in providing your Instant Match results.

If you decide to apply for a loan through the lenders we connect you with, the individual lender may perform a credit check after getting your consent.

Why do I need to provide basic personal information?

For both Marketplace and Instant Match, the information Joust requires helps us get you the best home loan rate. After entering your basic details, we provide a de-identified profile along with your credit score band to the lenders and brokers for Marketplace and on Instant Match, only the lenders or brokers that you’re connected with will receive the basic information that you provide during the Instant Match process.

What happens to my personal information?

For both Marketplace and Instant Match, lenders and brokers will only have access to the basic information you provide either once you declare a winning bid on Marketplace or submit your details on Instant Match. In the event that you do not declare a winning bid on Marketplace and you haven’t opted out to have your Joust auto-declared, we will automatically connect you with the lender or broker that offered you the lowest comparison rate. Please read our Privacy Policy Statement for further details on the secure collection and storage of your personal information.

Who can Joust connect me with?

We have a mixture of bank lenders as well as mortgage brokers who Joust can connect you with. We don’t get paid a trail or incentivised differently for different volume (aka volume-based incentives). We don’t favour any bank over the other. All banks, lender and brokers are welcome to join us for free.

How are the brokers and lenders chosen and verified?

We follow a strict process when we sign up new brokers and lenders. We interview them face to face (via Skype if they are in different states). We get to know them and ask them a lot of questions about their experience in the industry and their motivation. We also verify their licensing via the relevant bodies such as MFAA, FBAA and ASIC for their ACL’s. We don’t get paid a trail or incentivised differently for different volume (aka volume-based incentives). We don’t favour any bank or broker over the other. All banks and brokers are welcome to join us for free.

What’s the difference between Joust Marketplace and Joust Instant Match?

Marketplace: Joust’s Marketplace allows you to put your mortgage on the market and watch the power change hands in a reverse auction where banks and lenders bid against each other to help get you the best home loan rate. It takes just 3-minutes to set up, is free to use, and won’t affect your credit rating.

Instant Match: Instant Match pairs you instantly with lenders and brokers with loan options that meet your specific needs and circumstances. Thanks to our clever data matching and customer experience platform, now all home loan customers can access compatible matches easily.

I am a first home buyer, can Joust help?

We can certainly help. We have handpicked bank lenders and brokers who are experts and with a great track record. They are experts in helping both new home buyers and seasoned investors.

Is Joust backed by a bank?

Nope. 100% independent. As ex-bankers, we know the importance of independence and transparency.

Which banks are on the panel?

Joust is a marketplace. As such we have brokers as well as direct banks on the panel participating in the bidding process. Thanks to our existing partner network you can access about 80% of mortgage service providers which includes: the Big 4 banks, regional banks, non banks, large Credit Unions and Mutuals, small Credit Unions and Mutuals and a range of Mortgage Brokers.

Need help getting started or have a complex loan?

Use our Concierge Service to get in touch with our team who will guide you on how to use Joust, help you create your profile or, if you have a complex loan, find you a custom solution with our panel of lenders and brokers.

Concierge Service

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