Aussie borrowers celebrate as rates plunge lower
07 Jul 2019
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Aussie borrowers are revelling in a rates bonanza, as home loan interest rates continue to plunge to unheard of new levels. Lenders are now offering jaw dropping deals in the 2 per cent and low 3 per cent range, enabling borrowers to pay down their debt faster than ever before and build up record buffers.
According to Mozo Director Kirsty Lamont, smaller lenders are rolling out the red carpet in a bid to win borrowers off the major banks. The difference between the big banks' home loan rates and those on offer from challenger lenders is now so large that there are significant savings to be made by switching.
Loans.com.au, Athena and Homestar are amongst the challenger lenders to pass through Reserve Bank's latest rate cut in full, taking their rates to incredibly low levels. So if your bank isn't passing on the full cut, now is the time to consider refinancing to a take advantage of these unbelievable deals.
Top Home Loan Deals - rates updated daily
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Promoted
loans.com.au2.88% p.a. variable
2.90% p.a.
$1234
Product details Close detailsloans.com.auSmart Home Loan
Owner Occupier, Principal & Interest
2.88% p.a. variable
2.90% p.a.
A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only.
Smart Home Loan
A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only.
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2.88% p.a. variable
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2.90% p.a.
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$520
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$0.00
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$0.00
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yes - free
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yes - free
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no
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80.00%
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$50,000
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$1,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Home Loan
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Promoted
Athena2.84% p.a. variable
2.80% p.a.
$1234
Product details Close detailsAthenaVariable Home Loan
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.80% p.a.
Get the rate cut you deserve from one of Australia's newest direct lenders. For the third time this year the full cut has been passed on to all customers. The same low rates for new and existing customers. No fees and fee-free redraw. Min 20% deposit.
Variable Home Loan
Get the rate cut you deserve from one of Australia's newest direct lenders. For the third time this year the full cut has been passed on to all customers. The same low rates for new and existing customers. No fees and fee-free redraw. Min 20% deposit.
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2.84% p.a. variable
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2.80% p.a.
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$0
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$0.00
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$0.00
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yes - free
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yes - free
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no
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80.00%
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$100,000
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$2,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Variable Home Loan
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Promoted
Bank of Queensland2.99% p.a.
fixed 3 years3.72% p.a.
$1234
Product details Close detailsBank of QueenslandDiscount Fixed Rate 300k+
Owner Occupier, Principal & Interest
2.99% p.a.
fixed 3 years3.72% p.a.
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
Discount Fixed Rate 300k+
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
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2.99% p.a.
fixed 3 years -
3.72% p.a.
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$450
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$10.00 monthly
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$320.00
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yes - free up to $5,000 p.a
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no
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no
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80.00%
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$300,000
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-
-
Fixed
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Discount Fixed Rate 300k+
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Promoted
Queensland Country Credit Union3.49% p.a.
fixed 3 years3.90% p.a.
$1234
Product details Close detailsQueensland Country Credit UnionRateSaver
Investor, Interest Only, Fixed
3.49% p.a.
fixed 3 years3.90% p.a.
No Annual or Monthly Loan Maintenance Fees. Pay up to $10,000 in additional repayments each year. Borrow up to 90% LVR.
RateSaver
No Annual or Monthly Loan Maintenance Fees. Pay up to $10,000 in additional repayments each year. Borrow up to 90% LVR.
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3.49% p.a.
fixed 3 years -
3.90% p.a.
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$500
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$0.00
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$0.00
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yes - up to $10,000 per year
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no
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no
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90.00%
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$100,000
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$5,000,000
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Fixed
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Interest Only
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Investor
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the RateSaver
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Promoted
IMB Bank3.13% p.a. variable
3.19% p.a.
$1234
Product details Close detailsIMB BankBudget Home Loan
LVR 70-90%, Owner Occupier, Principal & Interest
3.13% p.a. variable
3.19% p.a.
Start with only 10% minimum deposit. Unrestricted additional repayments and free redraw facility.
Budget Home Loan
Start with only 10% minimum deposit. Unrestricted additional repayments and free redraw facility.
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3.13% p.a. variable
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3.19% p.a.
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$799
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$0.00
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$350.00
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yes - free
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yes - free
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no
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90.00%
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$75,000
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$5,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Budget Home Loan
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Promoted
Tic:Toc
2.84% p.a. variable
2.85% p.a.
$1234
Product details Close detailsTic:Toc Variable Home Loan
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.85% p.a.
Get full approval online. Award-winning platform could save you thousands with super-low rates. No application, valuation or settlement fees. Fee-free redraws and extra repayments. Optional offset account for $10 per month. Winner of a Mozo Experts Choice Award 2019 for Online Home Lender of the Year 2019.^
Variable Home Loan
Get full approval online. Award-winning platform could save you thousands with super-low rates. No application, valuation or settlement fees. Fee-free redraws and extra repayments. Optional offset account for $10 per month. Winner of a Mozo Experts Choice Award 2019 for Online Home Lender of the Year 2019.^
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2.84% p.a. variable
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2.85% p.a.
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$0
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$0.00
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$325.00
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yes - free
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yes - free
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Optional - $10 per month
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90.00%
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$50,000
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$2,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Variable Home Loan
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Promoted
UBank 2.84% p.a. variable
2.84% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.84% p.a.
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
UHomeLoan - Discount Offer
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
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2.84% p.a. variable
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2.84% p.a.
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$0
-
$0.00
-
$0.00
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yes - free
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yes - free
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no
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80.00%
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$200,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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Promoted
Heritage Bank3.07% p.a. variable
3.09% p.a.
$1234
Product details Close detailsHeritage BankDiscount Variable Home Loan
Owner Occupier, LVR<80%
3.07% p.a. variable
3.09% p.a.
No monthly administration fees. Ability to make extra repayments and redraws. A great low rate. No ongoing fees. Experience the difference this established bank has to offer.
Discount Variable Home Loan
No monthly administration fees. Ability to make extra repayments and redraws. A great low rate. No ongoing fees. Experience the difference this established bank has to offer.
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3.07% p.a. variable
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3.09% p.a.
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$150
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$0.00
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$250.00
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yes - free
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yes - free
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no
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80.00%
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$150,000
-
-
-
Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$600 application fee waived for applications made before 30 November 2019 and funded by 31 March 2020.
Read our Mozo Review to learn more about the Discount Variable Home Loan
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Promoted
loans.com.au 3.08% p.a. variable
3.10% p.a.
$1234
Product details Close detailsloans.com.au ZIP Home Loan
Owner Occupier, Principal & Interest
3.08% p.a. variable
3.10% p.a.
A super-low-rate home loan that comes with a $5,000 limit Visa Debit Card that is interest free for the life of the loan. No monthly or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount. Best New Feature in Mozo Experts Choice Awards 2019.^
ZIP Home Loan
A super-low-rate home loan that comes with a $5,000 limit Visa Debit Card that is interest free for the life of the loan. No monthly or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount. Best New Feature in Mozo Experts Choice Awards 2019.^
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3.08% p.a. variable
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3.10% p.a.
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$520
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$0.00
-
$0.00
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yes - free
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yes - free
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no
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80.00%
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$250,000
-
$2,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the ZIP Home Loan
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Promoted
Athena3.24% p.a. variable
3.20% p.a.
$1234
Product details Close detailsAthenaVariable Home Loan
Investment, Principal & Interest
3.24% p.a. variable
3.20% p.a.
Loyalty bonus each year for 5 years just for making your repayments on time. No monthly or annual fees. No application fees.
Variable Home Loan
Loyalty bonus each year for 5 years just for making your repayments on time. No monthly or annual fees. No application fees.
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3.24% p.a. variable
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3.20% p.a.
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$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Investor
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Variable Home Loan
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