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.au
2.63% p.a. variable
2.65% p.a.
$1234
Product details Close detailsloans.com.au Smart Home Loan 80
Owner Occupier, Principal & Interest
2.63% p.a. variable
2.65% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
Smart Home Loan 80
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
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2.63% p.a. variable
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2.65% 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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$520
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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 80
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Promoted
UBank 2.59% p.a. variable
2.59% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.59% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
UHomeLoan - Discount Offer
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
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2.59% p.a. variable
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2.59% 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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$0
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80.00%
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$200,000
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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 UHomeLoan - Discount Offer
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Promoted
Commonwealth Bank2.29% p.a.
fixed 2 years3.99% p.a.
$1234
Product details Close detailsCommonwealth BankFixed Rate Home Loan Wealth Package
Owner Occupier, Principal & Interest
2.29% p.a.
fixed 2 years3.99% p.a.
Enjoy the security of a 2 year fixed rate. No establishment or ongoing fees. $2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.
Fixed Rate Home Loan Wealth Package
Enjoy the security of a 2 year fixed rate. No establishment or ongoing fees. $2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.
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2.29% p.a.
fixed 2 years -
3.99% p.a.
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$200
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$395.00 yearly
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$350.00
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yes - free up to $10,000 p.a.
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no
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no
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$200
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95.00%
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$150,000
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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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$2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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Promoted
Homestar 2.39% p.a. variable
2.39% p.a.
$1234
Product details Close detailsHomestar Star Essentials Home Loan
Owner Occupier, Principal & Interest
2.39% p.a. variable
2.39% p.a.
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. Fee waiver special offer - ends 31st July 2020.
Star Essentials Home Loan
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. Fee waiver special offer - ends 31st July 2020.
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2.39% p.a. variable
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2.39% p.a.
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$0
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$0.00
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$535.00
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yes - free
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yes - free
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no
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$0
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80.00%
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$150,000
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$850,000
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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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Upfront fees waived up to $250 for valuation and up to $265 for legal documentation for applications received by 30 June 2020 and settled by 30 September 2020.
Read our Mozo Review to learn more about the Star Essentials Home Loan
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Promoted
Suncorp2.29% p.a.
fixed 2 years3.32% p.a.
$1234
Product details Close detailsSuncorpFixed Home Loan Special Offer Home Package Plus
Owner Occupier, Principal & Interest
2.29% p.a.
fixed 2 years3.32% p.a.
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
Fixed Home Loan Special Offer Home Package Plus
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
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2.29% p.a.
fixed 2 years -
3.32% p.a.
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$0
-
$375.00 yearly
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$350.00
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yes - free up to $500 per month
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no
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no
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$0
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90.00%
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$150,000
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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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Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 10 July 2020 and settled by 10 November 2020.
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
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Promoted
People's Choice Credit Union2.69% p.a. variable
2.69% p.a.
$1234
Product details Close detailsPeople's Choice Credit UnionBasic Variable Home Loan
LVR<80%, Owner Occupier, Principal and Interest, >$150k
2.69% p.a. variable
2.69% p.a.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
Basic Variable Home Loan
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
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2.69% p.a. variable
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2.69% p.a.
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$0
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$0.00
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$350.00
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yes - free
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yes - free
-
no
-
$0
-
80.00%
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$150,000
-
-
-
Variable
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Basic Variable Home Loan
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Promoted
Mortgage House2.19% p.a.
fixed 3 years2.65% p.a.
$1234
Product details Close detailsMortgage HouseSwitch and Save Special - Fixed Rate Home Loan
Owner Occupier, Principal & Interest
2.19% p.a.
fixed 3 years2.65% p.a.
Lock in this super-low rate for 3 years so you can budget accordingly and avoid the stress of a sudden rate rise. Avoid unnecessary costs with no monthly fees or ongoing package fees.
Switch and Save Special - Fixed Rate Home Loan
Lock in this super-low rate for 3 years so you can budget accordingly and avoid the stress of a sudden rate rise. Avoid unnecessary costs with no monthly fees or ongoing package fees.
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2.19% p.a.
fixed 3 years -
2.65% p.a.
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$1,440
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$0.00
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$500.00
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yes - free
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yes - free
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Optional - $10 per month
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$1,440
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80.00%
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$150,000
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$5,000,000
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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 Switch and Save Special - Fixed Rate Home Loan
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Promoted
Newcastle Permanent2.18% p.a.
fixed 2 years3.72% p.a.
$1234
Product details Close detailsNewcastle PermanentSpecial Fixed Rate Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
2.18% p.a.
fixed 2 years3.72% p.a.
Available for new home buyers, refinancers and investors with a Loan to Value Ratio (LVR) of up to 95%. Divide your loan between fixed and variable rates at no additional cost.
Special Fixed Rate Home Loan Premium Plus Package
Available for new home buyers, refinancers and investors with a Loan to Value Ratio (LVR) of up to 95%. Divide your loan between fixed and variable rates at no additional cost.
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2.18% p.a.
fixed 2 years -
3.72% p.a.
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$0
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$395.00 yearly
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$0.00
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yes - free up to $25,000 p.a.
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yes - free
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no
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$0
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80.00%
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$5,000
-
-
-
Fixed
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
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Promoted
HSBC 2.09% p.a.
fixed 2 years2.98% p.a.
$1234
Product details Close detailsHSBC Fixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR <80%
2.09% p.a.
fixed 2 years2.98% p.a.
Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^
Fixed Rate Home Loan
Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^
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2.09% p.a.
fixed 2 years -
2.98% p.a.
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$0
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$0.00
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$300.00
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yes - free up to $10,000 p.a.
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no
-
no
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$0
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80.00%
-
$50,000
-
$7,500,000
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Fixed
-
Principal & Interest
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Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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Promoted
Hot Deal $2,500 cashback when you refinance your home loan to BOQ (T&Cs apply)
Bank of Queensland2.29% p.a.
fixed 2 years3.52% p.a.
$1234
Product details Close detailsBank of QueenslandDiscount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
2.29% p.a.
fixed 2 years3.52% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).
Discount Fixed Rate
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).
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2.29% p.a.
fixed 2 years -
3.52% p.a.
-
$450
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$10.00 monthly
-
$350.00
-
yes - free up to $5,000 p.a
-
no
-
no
-
$450
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80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
$2,500 cashback when you refinance your home loan to BOQ, min $250,000, 70% LVR or less. Apply before 15 August 2020.
Read our Mozo Review to learn more about the Discount Fixed Rate
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