Australia’s cheapest home loans of 2018 revealed

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The results of Mozo’s Experts Choice Home Loan Awards are in, revealing the best value mortgages of 2018!

Mozo announces the winners of its Experts Choice Home Loan Awards each year, and this year, the Experts have been hard at work crunching the numbers on 525 different home loans, offered by 88 Australian lenders.

Awards were handed out to only the top 10% of products in each of the 8 categories, to help potential borrowers narrow their search down to only the best of the best. Here’s a selection of the winners to get your search started:

loans.com.au Essentials Variable 80

Key features

  • 3.64% variable interest rate (3.66% comparison rate*)
  • No ongoing fees (upfront fees apply)
  • Suite of features including free extra repayments and redraw facility plus option to split loan
Our verdict

With a super low rate and no ongoing fees, the loans.com.au Essentials Variable 80 was a winner in multiple categories, including Low Cost Home Loan and Offset Home Loan for both owner-occupiers and investors. If you’re looking for a low-cost, low maintenance mortgage, you’ve come to the right place.

Where do I get it? Head over to loans.com.au to find out more >>


HSBC Discounted Home Value Loan

Key features

  • 3.59% variable rate (3.60% comparison rate*)
  • No upfront or ongoing fees
  • Borrow with as little as 10% deposit
Our verdict

HSBC has come out with a a great value home loan offer here, winning awards for Low Cost Home Loan and First Home Buyer Loan. Not only will you snag a super low interest rate and pay no application or service fees, but you can also take advantage of features like free extra repayments, a redraw facility and the option to split your loan between fixed and variable rates.

Where do I get it? Head over to HSBC to find out more >>

State Custodians Low Rate Home Loan with Offset

Key features

  • 3.64% variable rate (3.67% comparison rate*)
  • No application or ongoing service fees (valuation fee applies)
  • Full offset account, plus free extra repayments and redraw facility
Our verdict

With wins in both the Offset Home Loan and Best First Home Buyer Loan categories, the State Custodians Low Rate Home Loan with Offset is a wallet friendly way for young Aussies to break into the property market. If you’re after a low rate, a suite of flexible features and no ongoing fees then this one might be the mortgage for you.

Where do I get it? Head over to State Custodians to find out more >>

ME Flexible Home Loan

Key features

  • 3.69% variable interest rate (4.11% comparison rate*)
  • No application fee ($395 annual fee)
  • Full suite of features such as offset account and split rate option
Our verdict

If you’re after a low rate home loan that doesn’t skimp on the bells and whistles, then take a look at the ME Flexible Home Loan Package. With the features on offer including a full offset account, free extra repayments, redraw facility, split rate option and the chance to take a repayments holiday, it’s no wonder this one was a winner in the Package Home Loan category.

Where do I get it? Head over to ME to find out more >>

UBank UHomeLoan - Discount Offer for Investor

Key features

  • 3.99% variable interest rate (3.99% comparison rate*)
  • No application or annual fees
  • Borrow up to $2 million
Our verdict

For property investors looking to jump in with an award winning mortgage, the UBank UHomeloan Discount Offer is a top choice. Taking home an award in the Investor Home Loan category, this one comes with no upfront application or ongoing fees to worry about, and handy features like free extra repayments and a redraw facility on offer.

Where do I get it? Head over to UBank to find out more >>

Newcastle Permanent Fixed Rate Home Loan

Key features

  • 3.69% fixed interest rate for 2 years (4.63% comparison rate*)
  • No application fee ($395 annual fee)
  • Choose weekly, fortnightly or monthly repayments
Our verdict

The Newcastle Permanent Discounted Fixed Rate Premium Plus Package, was also an Experts Choice winner, picking up awards in the Package Home Loan, Fixed Rate and Split Home Loan categories. With this loan you can borrow with just a 5% deposit, and make free extra repayments up to $25,000 each year.

Where do I get it? Head over to Newcastle Permanent to find out more >>

IMB Bank Budget Home Loan Special

Key features

  • 3.69% variable rate for owner-occupiers (3.69% comparison rate)
  • No upfront or ongoing service fees
  • Borrow with as little as 10% deposit
Our verdict

For a competitive interest rate and the chance to borrow up to $5 million with as little as a 10% deposit, be sure to check out the IMB Bank Budget Home Loan. This one comes with no upfront or ongoing fees, but you will get access to a few of the key features you might like in a mortgage, including free extra repayments, a redraw facility ($500 minimum applies) and the chance to split your loan between fixed and variable rates.

Where do I get it? Head over to IMB Bank to find out more >>

*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.

This is just a selection of our Mozo Experts Choice Home Loan winners. Head over to our dedicated Awards page if you want to see the full list of winners.

Want to compare more home loans? View the latest mortgage rates from 80 lenders at Mozo's home loan comparison hub.

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity.  Product providers don’t pay to be in the running and we don’t play favourites. Award winners may choose to purchase a licence to use their award in their own marketing and may choose to list products on the Mozo website in a way that may generate revenue for Mozo.

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