Australia's cheapest home loans revealed

Our verdict

Looking for a loan that's easy on your wallet? Look no further than the Smart Home Loan 80 from loans.com.au. This low rate, low fee mortgage is packed with handy features like the option to make free extra repayments, unlimited free redraw and a split rate option. With all this value on offer and no pesky fees to boot, it's no surprise the Smart Home Loan took out a Mozo Experts Choice Low Cost Home Loan Award for 2020.

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

Our verdict

With a super low interest rate, no fees to apply and no annual service fee, the UBank UHomeLoan is a great budget-friendly option for refinancers that comes with the security of being backed by NAB. The new low, variable rate is available for loans of $200,000 plus with a minimum deposit or 20% or more, and you can choose monthly, fortnightly or weekly repayments to suit your budget. No wonder it was a slam dunk for a Best Low Cost Home Loan Award.

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

Our verdict

This unmissable 2 year fixed rate home loan gives you the security of monthly repayments while still taking advantage of great features like the ability to make free extra repayments up to $10,000 a year. You’ll be able to split your loan between fixed and variable rates, and as the cherry on the cake, there are zero application and ongoing fees to pay. You'll even get a free relationship manager to guide you through the application process. Available to borrowers with a 20% deposit or more.

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

Our verdict

The Mortgage Simplifier Home Loan is chock-full of value, which is what you'd expect from the Mozo Experts Choice Award winner for Australia's Best Bank. With a great low variable rate, no monthly or annual account fees, unlimited additional repayments and free redraws this loan features all the perks you’ll want in a home loan. What's more, by rounding up purchases on your linked Orange Everyday account, every card purchase will help to directly reduce your outstanding home loan balance. 

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

If saving thousands on your mortgage is your thing, then Homestar might just be your lender of choice. This popular Australian non-bank lender has been offering low-cost home loans since 2004, and the Star Essentials home loan is no exception. Boasting one of the lowest variable rates on the market plus no ongoing fees, this super sharp loan also comes neatly packaged with a number of great features including unrestricted extra repayments and free online redraws. Plus, refinancers receive up to $1,500 cashback or upfront fees waived on purchases for applications received by 30 November, 2020.

Our verdict

Want to lock in a super low home loan rate but loathe the hassle of a long home loan application process? Calling UBank to the rescue! The UBank 3 year fixed rate UHomeLoan could be a great choice for borrowers who like the stability of a fixed rate and a super-speedy application process. It comes with conveniently flexible repayment options and the ability to make free extra repayments up to $20,000 each year so you can pay off your loan faster.

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

Our verdict

New online mortgage challenger Athena is taking on the banks with a customer first approach and some of the best value mortgages on the market. This competitive variable home loan has one of the lowest rates around and no application, valuation or ongoing fees. It also offers free extra repayments and a free redraw facility. Plus, to reward borrowers for paying down their home loan, Athena will now automatically lower your rate as you pay down your loan. Available to borrowers with a 40% deposit, this  Athena Home Loan is shaking up the mortgage market.

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