Australia’s cheapest home loans of 2018 revealed

Kelly Emmerton   |   22 Mar 2018

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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:

Promoted

loans.com.au Essentials Variable 80
loans.com.au
  • 3.64% variable 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 >>


Promoted

State Custodians Low Rate Home Loan with Offset
State Custodians
  • 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 >>

Promoted

UBank UHomeLoan - Discount Offer for Investor
UBank
  • 3.99% variable rate (3.99% comparison rate*)

  • No application or annual fees

  • $1,000 cash with a $200k loan (apply by 6 August)

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 >>

Promoted

ME Flexible Home Loan
ME
  • 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 >>


Promoted

Newcastle Permanent Discounted Variable Home Loan
Newcastle Permanent
  • 3.64% variable interest rate (4.03% comparison rate*)

  • No upfront fee ($395 annual package fee)

  • Features including free extra repayments, redraw facility and offset account

Our verdict

With the Newcastle Permanent Discounted Variable Premium Plus Package, winner in the Package Home Loan, and Split Home Loan categories, you can secure a loan with an LVR as high as 90% and cash in on money saving features like unlimited free extra repayments. Just keep in mind you’ll pay an annual fee for all this value.

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

Promoted

NAB Base Variable Rate Home Loan
NAB
  • 3.69% variable rate for owner-occupiers (3.73% comparison rate*)

  • Borrow up to 95% of the property's value

  • No ongoing service fee (application fee applies)

Our verdict

If you’re looking for serious value from a big bank, don’t go past the NAB Base Variable Rate home loan. Although it picked up an Experts Choice Award in the Investor Loan category, it’s also certainly worth taking a peak at the owner-occupier option on this one, as both come with free extra repayments and redraw facility and allow you to borrow with as little as a 5% deposit.

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

Promoted

loans.com.au Offset Variable 80
loans.com.au
  • 3.72% variable rate (3.74% comparison rate)

  • No application or ongoing service fees

  • Full offset account included

Our verdict

With a competitive interest rate on offer, no upfront application or ongoing fees and a suite of handy features, the loans.com.au Offset Variable Home Loan is a top pick for us in 2018. You’ll have access to free extra repayments, a redraw facility and a full offset account on loans of up to $2 million.

Where do I get it? Head over to loans.com.au 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.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.