Home Loans Mozo Experts Choice Awards 2024

Standout Winners

Home Lender Of The Year

People's Choice has been crowned Home Lender of the Year for 2024 for its award wins that showcase the broad range of borrowers it offers outstanding products for.

People's Choice took out awards in the Low Cost Home Loan, Offset Home Loan, Fixed Rate Home Loan, Packaged Home Loan and Investor Fixed and Investor Variable Home Loan categories, making them a hard to beat contender in 2024.

Congratulations to:

People's Choice

Exceptional Value Home Lender

This award category recognises the handful of lenders who took out award wins across several categories, making them worthy of recommendation for a range of borrowers looking for a great value home loan.

The judges considered which lenders had won a Low Cost Home Loan award, then which other categories they had won awards in, with priority given to those categories more likely to be of use to a wide range of borrowers. The outstanding performance of these lenders throughout these awards makes them worthy of consideration by most borrowers.

Congratulations to:

Australian Mutual Bank, Bendigo Bank, Heritage Bank, Police Bank, Regional Australia Bank, and Tiimely

Best New Home Loan

Both these fresh-faced and recently introduced loans have garnered attention in the home loan market. Qantas Money's latest offering stands out as an excellent blend of competitive rates and Qantas point benefits. Notably, The Capricornian launched the most favourable rate among all the newly launched home loans.

Congratulations to:

Qantas Money and The Capricornian

Low Cost Home Loan

Most people in the market are looking for a low cost home loan to keep outgoings minimal, particularly with the interest rate rises of 2023. 

For this category the Mozo judges assessed 270 variable rate loans for owner occupier borrowers making principal & interest repayments, and identified these as the lowest cost for several different loan-to-value ratios.

Congratulations to:

abal banking, Australian Mutual Bank, Auswide Bank, BankVic, Bendigo Bank, First Choice Credit Union, First Option Bank, Heartland Bank, Heritage Bank, Homeloans360, Homestar, HSBC, Hume Bank, Illawarra Credit Union, Northern Inland Credit Union, Pacific Mortgage Group, People's Choice, Police Bank, Police Credit Union, RACQ Bank, Reduce Home Loans, Regional Australia Bank, The Capricornian, The Mutual Bank, Tiimely, and Unloan

Offset Home Loan

An offset option on your home loan can be a great way of saving on interest paid on your loan, yet still having the flexibility to withdraw your money when needed. Of the 181 variable rate loans offering a 100% offset facility, the Mozo judges found that these were the lowest cost.

Congratulations to:

Auswide Bank, Bendigo Bank, Easy Street, First Choice Credit Union, Homeloans360, Northern Inland Credit Union, People's Choice, Police Bank, Police Credit Union, Regional Australia Bank, The Capricornian, Tiimely, and Up

Packaged Home Loan

To find the lowest cost package loans, the judges assessed 50 products, then identified those that were the lowest cost options where the borrower could also get a credit card and bank account that doesn’t charge any account keeping fee with that same provider.

Congratulations to:

Community First Bank, Heritage Bank, HSBC, ING, Newcastle Permanent, and People's Choice

First Home Buyer Loan

First home buyers tend to have a smaller deposit, so for this category our Experts identified the lowest cost variable rate loans for those looking for a 90% LVR loan.

The assessment included special offers for borrowers taking advantage of the government’s First Home Loan Deposit Scheme. For this category the Mozo judges assessed 236 variable rate loans and identified these were the lowest cost.

Congratulations to:

Bendigo Bank, Community First Bank, Easy Street, First Choice Credit Union, Illawarra Credit Union, loans.com.au, Police Bank, Qantas Money, Regional Australia Bank, The Capricornian, Tiimely, and Up

Fixed Rate Home Loan

Fixed rate home loans are great if you like the security of knowing just how much your repayments will be over a fixed term. To be considered in this category lenders have to offer at least 3 different fixed rate terms which resulted in 133 products being assessed. The judges ranked these loans as the best in their field.

Congratulations to:

Australian Mutual Bank, BCU Bank, Greater Bank, Heritage Bank, IMB Bank, Newcastle Permanent, People's Choice, Qudos Bank, RACQ Bank, Regional Australia Bank, SWSbank, and Up

Best Green Home Loan

Sustainable homes are growing in popularity as more and more Aussies are leading a greener lifestyle. Loans considered for this award must only be available to homes that have been certified with a minimum level of environmental efficiency, and of these, our Experts calculated the loans with the lowest costs.

Congratulations to:

loans.com.au

Investor Home Loan

Investment loans tend to have higher interest rates, so it’s important to shop around when looking for a lender. This year’s award assessed the 194 products available for investors that offered both principal & interest and interest only as an option. The winners below were found to be the lowest cost options.

Congratulations to:

Auswide Bank, Bank of us, BankVic, Bendigo Bank, Community First Bank, Credit Union SA, Easy Street, Greater Bank, Homestar, HSBC, Hume Bank, Newcastle Permanent, People's Choice, and Queensland Country Bank

Investor Fixed Home Loan

For this award, we identified the lenders with the lowest costs over a range of fixed terms for investors. We assessed 113 loan options, calculating the annual cost of each fixed rate term offered, averaging the three best results. The calculation was performed using rates applicable to both principal & interest and interest only loans.

Congratulations to:

Australian Mutual Bank, BCU Bank, Greater Bank, Newcastle Permanent, People's Choice, and RACQ Bank