Best Home Loans 2018

Congratulations to the 2018 winners of Mozo Experts Choice Awards for home loans. Whether you’re buying your first home, refinancing your existing home loan or investing in property, the Mozo Experts Choice winners list is a great place to start your search for a great value home loan.

Experts choice awards hero 2018

What are the Mozo Experts Choice Awards?

Now in their fifth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.

For the 2018 home loan awards, Mozo’s money experts compared 525 home loans from 88 financial providers. Because we all have different borrowing needs we’ve categorised the winners into several categories to help you narrow down your search in finding the best home loan for you. From low deposit home loans for first home buyers, to investor only home loans, to home loan packages that help you save money on your general banking, the Mozo Experts Choice Awards are the perfect starting point for choosing a home loan.

For details on how we crunched the numbers and determined the award winners see our methodology report.

Home Lender of the Year: Newcastle Permanent

Newcastle Permanent

With the best performing home loan range across the Mozo Experts Choice Award categories, Newcastle Permanent took out the Home Lender of the Year title by Mozo’s money experts for 2018.

Online Home Lender of the Year: FreedomLend

FreedomLend

Online convenience and competitive products, meet FreedomLend, the Online Lender of the Year award winner for 2018. With a suite of low cost online home loans for every borrower, FreedomLend ranked best across key categories in this year’s Mozo Experts Choice Home Loan Awards for online only lenders.

Major Bank Home Lender of the Year: ANZ

ANZ

With the lowest cost portfolio of home loans across the Mozo Experts Choice Award categories of the big 4 banks, ANZ was named Major Bank Home Lender of the Year.

Home Loan Innovation: Tic:Toc

Tic:Toc

Home loan approval in 22 minutes. Unimaginable just a few years ago, but the innovative home loan automated assesment process pioneered by online lender Tic:Toc was a game changer for borrowers and a deserved winner of the inaugural Home Loan Innovation award.

Low Cost Home Loan

We compared 287 variable rate owner occupier home loans in our database to find Australia’s best low cost home loans of 2018. To qualify for the low cost award, each home loan must be available for a loan of $350,000, allow for a loan-to-value ratio (LVR) of 80% and principal and interest repayments.

Homestar
Homestar

Variable Rate Loan

3.54% p.a.

3.59% p.a.

HSBC
HSBC

Home Value Loan

3.59% p.a.

3.61% p.a.

loans.com.au
loans.com.au

Essentials Variable

3.64% p.a.

3.66% p.a.

Bank of Melbourne
Bank of Melbourne

Basic Home Loan

3.84% p.a.

3.85% p.a.

BankSA
BankSA

Basic Home Loan

3.84% p.a.

3.85% p.a.

FreedomLend
FreedomLend

Variable Home Loan

3.54% p.a.

3.55% p.a.

Gateway Bank
Gateway Bank

Low Rate Essentials Home Loan

3.64% p.a.

3.66% p.a.

Police Credit Union
Police Credit Union

The Better Home Loan

3.79% p.a.

3.84% p.a.

Reduce Home Loans
Reduce Home Loans

Rate Buster Escape

3.54% p.a.

3.54% p.a.

Reduce Home Loans
Reduce Home Loans

Rate Buster High Lend Variable

3.49% p.a.

3.52% p.a.

Tic:Toc
Tic:Toc

Variable Home Loan

3.57% p.a.

3.58% p.a.

ANZ
ANZ

Simplicity PLUS

Major Bank Award

4.15% p.a.

4.19% p.a.

Offset Home Loan

Having a home loan with a 100% offset account can help you to save money over the life of your home loan. We compared variable rate loans in our database available for a loan of $350,000 with a 100% offset account and here’s the list of home loans that made our 2018 Experts Choice Awards winners list.

Homestar
Homestar

Variable Rate Loan

3.54% p.a.

3.59% p.a.

loans.com.au
loans.com.au

Offset Variable

3.72% p.a.

3.74% p.a.

State Custodians
State Custodians

Low Rate Home Loan with Offset

3.68% p.a.

3.69% p.a.

CUA
CUA

Advance Variable Home Loan

3.65% p.a.

3.66% p.a.

FreedomLend
FreedomLend

Variable Home Loan

3.54% p.a.

3.55% p.a.

Mortgage House
Mortgage House

Advantage PAYG Special

3.64% p.a.

3.81% p.a.

Police Credit Union
Police Credit Union

The Better Home Loan

3.79% p.a.

3.84% p.a.

Reduce Home Loans
Reduce Home Loans

Rate Buster High Lend Variable

3.49% p.a.

3.52% p.a.

Tic:Toc
Tic:Toc

Variable Home Loan

3.57% p.a.

3.58% p.a.

Virgin Money
Virgin Money

Reward Me Variable Rate Home Loan

3.73% p.a.

3.87% p.a.

ANZ
ANZ

Variable Rate (Breakfree Package)

Major Bank Award

4.56% p.a.

4.94% p.a.

Fixed Home Loan

Want to lock in your home loan interest rate? The list of winners in the fixed award category for 2018 have the lowest cost fixed rate loans for owner occupiers according to Mozo’s money experts.

Newcastle Permanent
Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

3.74% p.a. fixed 2 years

4.66% p.a.

Newcastle Permanent
Newcastle Permanent

Fixed Rate Home Loan

3.94% p.a. fixed 2 years

4.82% p.a.

NAB
NAB

Tailored Home Loan (Fixed, Choice Package)

Major Bank Award

3.79% p.a. fixed 2 years

4.86% p.a.

Gateway Bank
Gateway Bank

Fixed Rate Home Loan (Premium Package)

3.80% p.a. fixed 2 years

4.73% p.a.

Greater Bank
Greater Bank

Great Rate Home Loan (Fixed)

3.74% p.a. fixed 2 years

4.31% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Fixed, Package)

3.69% p.a. fixed 2 years

4.54% p.a.

ING
ING

Fixed Rate Loan (Owner Occupiers with Orange Advantage)

3.75% p.a. fixed 2 years

4.57% p.a.

QBANK
QBANK

Fixed Rate

3.89% p.a. fixed 3 years

4.39% p.a.

Qudos Bank
Qudos Bank

Fixed Rate Home Loan

3.89% p.a. fixed 2 years

4.18% p.a.

RACQ Bank
RACQ Bank

Fixed Rate (Choices Package)

3.72% p.a. fixed 2 years

4.41% p.a.

Teachers Mutual Bank
Teachers Mutual Bank

Fixed Option Home Loan

3.88% p.a. fixed 2 years

4.89% p.a.

UniBank
UniBank

Fixed Option Home Loan

3.88% p.a. fixed 2 years

4.89% p.a.

First Home Buyer Loan

Ready to purchase your first home? Here are the home loans for first time buyers that shone in this year’s Experts Choice Awards. Loans must have a variable interest rate, be available for first time borrowers with a 10% deposit and a $350,000 loan amount to qualify for this award.

HSBC
HSBC

Home Value Loan

3.59% p.a.

3.61% p.a.

Bank of Melbourne
Bank of Melbourne

Basic Home Loan

3.84% p.a.

3.85% p.a.

BankSA
BankSA

Basic Home Loan

3.84% p.a.

3.85% p.a.

St.George
St.George

Basic Home Loan

3.88% p.a.

3.89% p.a.

BankVic
BankVic

First Home Buyer Package

3.79% p.a.

3.79% p.a.

CUA
CUA

Advance Variable Home Loan

3.65% p.a.

3.66% p.a.

Greater Bank
Greater Bank

Great Rate Home Loan

3.72% p.a.

3.73% p.a.

IMB Bank
IMB Bank

Budget Home Loan

3.84% p.a.

3.84% p.a.

Police Credit Union
Police Credit Union

The Better Home Loan

3.79% p.a.

3.84% p.a.

RACQ Bank
RACQ Bank

Mortgage Saver Special

3.62% p.a.

3.62% p.a.

State Custodians
State Custodians

Low Rate Home Loan with Offset

3.88% p.a.

3.89% p.a.

Suncorp
Suncorp

Back to Basics

3.79% p.a.

3.80% p.a.

ANZ
ANZ

Simplicity PLUS

Major Bank Award

4.15% p.a.

4.19% p.a.

Packaged Home Loan

Want a home loan with added benefits like a no annual fee credit card and fee free bank account? We compared all home loan packages available for owner occupiers in our database for this award. Each loan in the list also features a 100% offset account and allows for a loan to value ratio of 80%.

Newcastle Permanent
Newcastle Permanent

Variable Home Loan (Premium Plus Package)

3.82% p.a.

4.22% p.a.

Credit Union SA
Credit Union SA

Variable Rate Home Loan (Package)

3.79% p.a.

4.20% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Package)

3.72% p.a.

4.13% p.a.

Heritage Bank
Heritage Bank

Variable Rate Loan (Home Advantage)

3.72% p.a.

4.09% p.a.

ING
ING

Orange Advantage (Package)

3.64% p.a.

3.69% p.a.

Macquarie
Macquarie

Offset Home Loan (Package)

3.85% p.a.

4.11% p.a.

ME
ME

Flexible Home Loan (Member Package)

3.69% p.a.

4.12% p.a.

People's Choice Credit Union
People's Choice Credit Union

Variable Home Loan (LVR<80%) (Package)

3.69% p.a.

4.09% p.a.

Qudos Bank
Qudos Bank

Low Cost Home Loan (Package)

3.79% p.a.

3.79% p.a.

Suncorp
Suncorp

Standard Variable Home Loan Special Offer (Home Package Plus)

3.99% p.a.

4.37% p.a.

ANZ
ANZ

Variable Rate (Breakfree Package)

Major Bank Award

4.56% p.a.

4.94% p.a.

Split Home Loan

Thinking of splitting your home loan between a fixed rate and a variable rate? Here are the split loans that impressed our money experts for their overall value in 2018.

Newcastle Permanent
Newcastle Permanent

Variable Home Loan (Premium Plus Package)

3.82% p.a.

4.22% p.a.

FreedomLend
FreedomLend

Variable Home Loan

3.54% p.a.

3.55% p.a.

Gateway Bank
Gateway Bank

Variable Rate Home Loan (Premium Package)

3.74% p.a.

4.05% p.a.

Greater Bank
Greater Bank

Great Rate Home Loan

3.72% p.a.

3.73% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Package)

3.72% p.a.

4.13% p.a.

iMortgage
iMortgage

Elite

3.68% p.a.

3.71% p.a.

iMortgage
iMortgage

Fusion

3.67% p.a.

3.82% p.a.

ING
ING

Orange Advantage (Package)

3.64% p.a.

3.69% p.a.

Police Credit Union
Police Credit Union

The Better Home Loan

3.79% p.a.

3.84% p.a.

Qudos Bank
Qudos Bank

No Frills Home Loan

3.69% p.a.

3.69% p.a.

ANZ
ANZ

Simplicity PLUS

Major Bank Award

4.15% p.a.

4.19% p.a.

Investor Home Loan

In the market for an investment loan? Here are the Mozo expert’s top picks for investment property variable rate home loans for 2018 from the 228 loans we compared. To qualify in this category, the loan must allow an LVR of 80%, be available for a loan of $350,000, offer both interest only and principal and interest repayment options.

loans.com.au
loans.com.au

Smart Loan (Package)

3.97% p.a.

3.99% p.a.

loans.com.au
loans.com.au

Essentials Variable

4.29% p.a.

4.31% p.a.

State Custodians
State Custodians

Low Rate Home Loan with Offset

3.93% p.a.

3.94% p.a.

UBank
UBank

UHomeLoan - Investor Extra Offer

3.99% p.a.

3.99% p.a.

firstmac
firstmac

Investor Package Vital

4.33% p.a.

4.39% p.a.

FreedomLend
FreedomLend

Variable Home Loan

4.04% p.a.

4.05% p.a.

Homestar
Homestar

Variable Rate Loan

3.89% p.a.

3.94% p.a.

iMortgage
iMortgage

Fusion

3.97% p.a.

4.12% p.a.

Northern Inland Credit Union
Northern Inland Credit Union

Dream Value Home Loan (Package)

4.13% p.a.

4.48% p.a.

QBANK
QBANK

Classic Home Loan

4.35% p.a.

4.41% p.a.

NAB
NAB

Base Variable Rate Home Loan

Major Bank Award

4.65% p.a.

4.69% p.a.

Investor Fixed Home Loan

According to our analysis in this year’s Experts Choice Awards, here are the top fixed rate investor loans of 2018. To qualify for the Award the loan must allow an LVR of 80%, be available for a loan of $350,000 and offer both interest only and principal and interest repayment options.

UBank
UBank

UHomeLoan (Fixed)

3.99% p.a. fixed 3 years

4.44% p.a.

Aussie
Aussie

Select Basic (Fixed)

3.94% p.a. fixed 2 years

4.38% p.a.

Defence Bank
Defence Bank

Ultimate Home Loan (Fixed, Package)

4.19% p.a. fixed 2 years

4.79% p.a.

Newcastle Permanent
Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

3.89% p.a. fixed 2 years

4.94% p.a.

P&N Bank
P&N Bank

Fixed Rate Home Loan

4.09% p.a. fixed 2 years

4.67% p.a.

RACQ Bank
RACQ Bank

Fixed Rate (Choices Package)

3.92% p.a. fixed 2 years

4.79% p.a.

St.George
St.George

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.39% p.a.

BankSA
BankSA

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.39% p.a.

Bank of Melbourne
Bank of Melbourne

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.39% p.a.

Tic:Toc
Tic:Toc

Fixed Home Loan

3.94% p.a. fixed 2 years

3.95% p.a.

Virgin Money
Virgin Money

Reward Me Fixed Rate Home Loan

4.05% p.a. fixed 2 years

4.09% p.a.

Westpac
Westpac

Fixed Rate Investment Loan (Premier Advantage Package)

3.95% p.a. fixed 2 years

5.39% p.a.

Judging Criteria

Every day Mozo keeps track of thousands of products in banking, energy and insurance.

The Mozo Experts Choice Awards recognise home loan products that deliver exceptional value or benefits to consumers. Providers don’t pay to be in the running and we don’t play favourites. Our Judges base their decision on hard-nosed calculations of value, using Mozo’s extensive product database and research capacity.

Experts Choice Awards are awarded to the top 10% of products that meet the selection criteria in each awards category.

FAQs

How many home loans were compared for the Experts Choice Awards?

For the 2018 Mozo Experts Choice Home Loan Awards, our experts crunched the data on 525 home loans from 88 financial providers to find the lowest cost home loans in each category.

How do I choose the best home loan for me?

There is a reason why there are over 500 home loans available in Australia. There isn’t one best home loan for every borrower, but there will be a best home loan for you. This is one the reasons why our Money experts have split out the Mozo Experts Choice Awards into several categories. If you’re a first home buyer, your loan needs will be different to a property investor and vice versa. But no matter what category you fall into, you’ll want a home loan that gives you the features or flexibility you want at the lowest possible price. The award winners listed on this page have all been selected by our experts because they deliver the best value for customers based on our criteria and are a great place to start your search. To compare loans based on your particular loan and finance requirements head over to our home loan comparison hub.

Why is there a major bank winner in each home loan category?

We’ve included a major bank winner in each category because there are some borrowers that only want to compare home loan products between the big four banks (Commonwealth, ANZ, NAB and Westpac). So we’ve made it easy for them to find the best big bank home loan for their needs.

What is an offset home loan?

This is a home loan that has an offset account attached to the home loan. A loan with an offset account is one of the best ways that you can reduce the amount of interest you pay on your home loan over the life of the loan. For instance if you have a $350,000 home loan but you have $50,000 in your offset account, your bank will only charge you interest on $300,000.

Who are Mozo’s product experts?

Mozo has been researching and comparing financial products since 2008, and thousands of Australians use our comparison services each month. Our research team is headed by our Data Services Director and our Product Data Manager who have over 50 years of financial services experience and 23 years in online financial comparison.

Where can I find more information about the criteria for the home loan awards?

Our awards methodology report is available for you to read, which includes information on the criteria for each award category.

If you are after more information about home loans in general, whether it's about features of home loan or tips for renovating, check out our home loan resources section of our website.

I work for a financial provider, how do we promote our award win?

Please get in touch with us to discuss by emailing or phoning our advertising sales team on 02 9037 4368.