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.

Gateway Bank
Gateway Bank

Low Rate Essentials Home Loan

3.67% p.a.

3.69% 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

3.64% p.a.

3.66% p.a.

BankSA
BankSA

Basic Home Loan

3.64% p.a.

3.66% p.a.

FreedomLend
FreedomLend

Variable Home Loan

3.54% p.a.

3.55% p.a.

Homestar
Homestar

Variable Rate Loan

3.54% p.a.

3.59% p.a.

HSBC
HSBC

Home Value Loan

3.74% p.a.

3.75% 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

3.59% p.a.

3.63% p.a.

Reduce Home Loans
Reduce Home Loans

Rate Buster High Lend Variable

3.49% p.a.

3.53% p.a.

Tic:Toc
Tic:Toc

Variable Home Loan

3.52% p.a.

3.53% p.a.

ANZ
ANZ

Simplicity PLUS

Major Bank Award

3.99% p.a.

4.03% 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.

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

3.64% p.a.

3.67% 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.

Homestar
Homestar

Variable Rate Loan

3.54% p.a.

3.59% 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.

3.53% p.a.

Tic:Toc
Tic:Toc

Variable Home Loan

3.52% p.a.

3.53% p.a.

Virgin Money
Virgin Money

Reward Me Variable Rate Home Loan

3.68% p.a.

3.82% p.a.

ANZ
ANZ

Variable Rate (Breakfree Package)

Major Bank Award

4.40% p.a.

4.79% 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)

3.69% p.a. fixed 2 years

4.59% p.a.

Newcastle Permanent
Newcastle Permanent

Fixed Rate Home Loan

3.89% p.a. fixed 2 years

4.75% 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

4.24% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Fixed, Package)

3.69% p.a. fixed 2 years

4.47% p.a.

ING
ING

Fixed Rate Loan (Owner Occupiers with Orange Advantage)

3.72% 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

3.78% p.a. fixed 2 years

5.01% p.a.

UniBank
UniBank

Fixed Option Home Loan

3.78% p.a. fixed 2 years

5.01% p.a.

NAB
NAB

Tailored Home Loan (Fixed, Choice Package)

Major Bank Award

3.88% p.a. fixed 2 years

4.66% 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.

RACQ Bank
RACQ Bank

Mortgage Saver Special

3.62% p.a.

3.62% p.a.

Bank of Melbourne
Bank of Melbourne

Basic Home Loan

3.64% p.a.

3.66% p.a.

BankSA
BankSA

Basic Home Loan

3.64% p.a.

3.66% p.a.

St.George
St.George

Basic Home Loan

3.68% p.a.

3.70% 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

3.74% p.a.

3.74% p.a.

HSBC
HSBC

Home Value Loan

3.74% p.a.

3.75% p.a.

IMB Bank
IMB Bank

Budget Home Loan

3.69% p.a.

3.69% p.a.

Police Credit Union
Police Credit Union

The Better Home Loan

3.79% p.a.

3.84% p.a.

State Custodians
State Custodians

Low Rate Home Loan with Offset

3.84% p.a.

3.87% p.a.

Suncorp
Suncorp

Back to Basics

3.68% p.a.

3.69% p.a.

ANZ
ANZ

Simplicity PLUS

Major Bank Award

3.99% p.a.

4.03% 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%.

ME
ME

Flexible Home Loan (Member Package)

3.69% p.a.

4.11% p.a.

Newcastle Permanent
Newcastle Permanent

Variable Home Loan (Premium Plus Package)

3.74% p.a.

4.14% p.a.

Credit Union SA
Credit Union SA

Variable Rate Home Loan (Package)

3.74% p.a.

4.15% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Package)

3.74% p.a.

4.15% p.a.

Heritage Bank
Heritage Bank

Variable Rate Loan (Home Advantage)

3.84% p.a.

4.21% 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.

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

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

3.59% p.a.

4.00% p.a.

Qudos Bank
Qudos Bank

Low Cost Home Loan (Package)

3.89% p.a.

3.89% p.a.

Suncorp
Suncorp

Standard Variable Home Loan Special Offer (Home Package Plus)

3.79% p.a.

4.18% p.a.

ANZ
ANZ

Variable Rate (Breakfree Package)

Major Bank Award

4.40% p.a.

4.79% 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)

3.74% p.a.

4.14% 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

3.74% p.a.

3.74% p.a.

Greater Bank
Greater Bank

Ultimate Home Loan (Package)

3.74% p.a.

4.15% p.a.

iMortgage
iMortgage

Elite

3.68% p.a.

3.71% p.a.

iMortgage
iMortgage

Fusion

3.52% p.a.

3.67% 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

3.99% p.a.

4.03% 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

3.89% p.a.

3.92% 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

3.82% p.a.

3.97% p.a.

Northern Inland Credit Union
Northern Inland Credit Union

Dream Value Home Loan (Package)

3.94% p.a.

4.29% 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.

4.70% 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)

4.19% p.a. fixed 2 years

4.40% p.a.

Defence Bank
Defence Bank

Ultimate Home Loan (Fixed, Package)

4.19% p.a. fixed 2 years

5.15% p.a.

Newcastle Permanent
Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

3.89% p.a. fixed 2 years

4.87% 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)

4.05% p.a. fixed 2 years

4.82% p.a.

St.George
St.George

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.30% p.a.

BankSA
BankSA

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.30% p.a.

Bank of Melbourne
Bank of Melbourne

Fixed Home Loan (Advantage Package)

3.99% p.a. fixed 2 years

5.30% p.a.

Tic:Toc
Tic:Toc

Fixed Home Loan

4.19% p.a. fixed 2 years

3.96% 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)

4.05% p.a. fixed 2 years

5.30% p.a.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

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?

    How do I choose the best home loan for me?

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

    What is an offset home loan?

    Who are Mozo’s product experts?

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

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