Australia's best refinance home loans for 2018
27 Mar 2018

Isn’t it about time you checked up on your home loan to see if it’s still offering the best value around? If you’re still signed up to an outdated offer, you could be paying way too much.
In fact, according to Mozo data, borrowers with a $400,000 mortgage could save as much as $287.08 each month, or $3,444.90 a year by switching from the average big bank variable rate of 3.99% to the lowest rate around*.
With savings like that on offer for refinancers, we thought you might like to take a look at some of the winners of our recent Experts Choice Awards to pick out a better value offer. Our experts identified the best value mortgage options by comparing 525 different home loans, offered by 88 Australian lenders - here are some of our Editors’ picks for refinancers.
loans.com.au Essentials Variable 90

3.04% interest rate (3.06% comparison rate*)
No application or ongoing service fee
Free extra repayments and redraw facility
With a super low variable rate, no application or annual fees and a few great features to help you save money on interest, the loans.com.au Essentials Variable 80 is a top pick for refinancers borrowing between $50,000 and $2 million. Plus it’s got the seal of approval, taking out a Mozo Experts Choice Award for Low Cost Home Loan this year.
ME Flexible Home Loan

3.33% variable interest rate (4.27% comparison rate*)
$0 application fee (yearly service fee applies)
Free extra repayments, redraw facility and offset account
An Experts Choice winner in the Packaged Home Loan category, ME’s Flexible Home Loan Member Package suits borrowers looking for all the bells and whistles with a very reasonable interest rate. If you love the idea of cashing in on home loan features like free extra repayments, redraw facility or an offset account to save money, this one might be for you.
State Custodians Low Rate Home Loan with Offset

3.64% variable interest rate (3.67% comparison rate*)
No application or ongoing fees
Full offset account and free extra repayments
If you’re looking to refinance a loan of up to $2 million dollars and want a competitive rate plus a suite of features, take a look at the State Custodians Low Rate Home Loan with Offset. It took out multiple Experts Choice Awards this year, including in the Offset Home Loan category, plus you’ll pay no upfront application or yearly fees.
Newcastle Permanent Discounted Variable Home Loan

3.64% variable interest rate (4.03% comparison rate*)
$0 application fee on personal or car loans and no credit card annual fee when bundled with home loan
Mozo Experts Choice Home Loan Lender of the Year
Not only is Newcastle Permanent Mozo’s Home Loan Lender of the Year, but the Discounted Variable Home Loan Premium Plus Package itself took out multiple Experts Choice Awards, including in the Packaged Home Loan and Split Home Loan categories. It offers a competitive rate along with features like an offset account and free extra repayments.
UBank UHomeLoan - Discount Offer for Investor

3.99% variable interest rate (3.99% comparison rate*)
$1,000 cashback when you refinance a $200,000 loan by 6 June 2018
Experts Choice investor Home Loan winner 2018
There’s no reason for investors to miss out on the savings refinancing offers either! The UBank UHomeloan Discount Offer for Investors comes with a competitive interest rate, plus the chance to make free extra repayments and access a redraw facility. So if you’re borrowing up to $2 million for your investment property, take a look.
CUA Advance Variable Home Loan

3.65% variable interest rate (3.66% comparison rate*)
$0 application or service fees
Offset account up to $50,000
What do you get when you combine a competitive interest rate, no fees and a couple of choice features like free extra repayments, and redraw facility and an offset account for up to $50,000? You get the CUA Advance Variable Home Loan, an option jam-packed full of value for refinancers borrowing up to $5 million.
Gateway Bank Low Rate Essentials Home Loan

3.67% variable interest rate (3.69% comparison rate*)
$0 application or service fees
Experts Choice Low Rate Home Loan winner 2018
Packing a super competitive variable interest rate, no upfront application or ongoing service fees, and handy features like free extra repayments and a redraw facility, it’s no wonder the Gateway Low Rate Essentials Home Loan took out an Experts Choice Award this year for Low Cost Home Loan. Definitely worth a look!
^See information about the Mozo Experts Choice Home loans Awards
Those are some of our picks for refinancing your home loan, but if you want to check out some other options head over to the refinancing section of our home loan comparison table. You can also take a look at the rest of the Mozo Experts Choice winners.
The Mozo Experts Choice Awards were announced in March 2018, and 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.
*Calculations based on loan of $400,000 over 30 years with an LVR of 80%. The lowest rate in the Mozo database at the time of writing is 2.69% from Reduce Home Loans.
Which home loan rates would you like to compare?