Do ethical loans cost more?

Simply, it depends.

You need to consider:

  • What is most important to you (your motivations), as cost is not the only consideration.
  • Your goals and objectives, your financial situation, your credit history etc.
  • Your security – home/apartment/townhouse, land size, zoning etc.,
  • The lenders you want to consider;
  • The lenders’ ability to offer you suitable products and terms that meet your needs; and
  • The lenders you are comparing these ethical lenders too, from a cost perspective.

At FWD Financial, we help you to consider these factors and recommend lenders that align with your values and ethics including sustainability/environmental practices.  We will also consider other factors such as brand/reputation, technology and customer service before we consider product related aspects such as fees, interest rates and the overall cost to you.  

Depending on your situation an ethical lender may be a more expensive option due to their higher interest rate (and annual fees) compared to the low-cost no-frills lenders.  However, this comparison may be unfair, if they are not ethical, sustainable or an environmental lender.  That said, there are low-cost ethical options in the market (usually mutuals), which are often less expensive than the major banks.

Getting the balance right is key, we help you navigate the market and help you make an informed decision that aligns with your priorities, goals and objectives and ethics.

At FWD Financial, we have more than 35 different lenders on our panel, we can help you navigate this and find a lender that shares your values and supports you, the environment, and the broader community. Either email or give us a call on 0410 FWD FWD (0410 393 393).

How do I know if a lender is ethical?

What is ethical lending and why do we care?

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