Australia's cheapest home loans of 2019


29 Oct 2019


The results of Mozo’s Experts Choice Home Loan Awards are in, revealing the best value mortgages of 2019!

After comparing a massive 436 home loans from 85 lenders in this year’s Mozo Experts Choice Home Loan Awards, our experts crowned only the top 10% of products in a number of different categories, ranging from Low Cost Home Loan to First Home Buyer Loan.

So whether you’re only just entering the property market, want to refinance your existing home loan or are looking to invest in property, our Mozo Experts Choice Award winners list is a great place to begin. Here’s a selection of some of the lowest cost home loans of 2019 to get you started on the right foot...

Mozo Experts Choice Winning Home Loans

Promoted Smart Home Loan
  • New 2.88% variable rate (2.90% comparison rate*)

  • $0 application or ongoing fees

  • Unlimited free extra repayments and redraw facility

Our verdict

Dreaming of an easy to apply for loan that offers big savings? The Smart Home Loan could be your answer. nails it with one of the lowest variable rates on the market, plus no application or ongoing fees, unlimited extra repayments, free redraws and a breezy online application process. took out the Low Cost Home Loan Award for its Essentials Variable 80 loan, but the brand new Smart Home Loan has an even lower rate and all the same great features, so we'd be crazy not to review it here.


UBank UHomeLoan - Discount Offer
  • New 2.84% variable rate (2.84% comparison rate*)

  • Free extra repayments and redraw facility

  • No upfront or annual fees

Our verdict

The 2019 Mozo Experts Choice Award winning UBank UHomeLoan is something to make noise about. Not only will you get a super low variable rate under 3.00%, but it gets better, as this competitive online loan also has no upfront or annual fees and offers free extra repayments and redraw facility. No wonder it was a top pick for the 2019 Mozo Experts Choice Awards in the Low Cost Home Loan category and list of Australia’s cheapest home loans.


Suncorp Fixed Home Loan Special Offer
  • 2.89% fixed rate for 3 years (3.70% comparison rate*)

  • Free extra repayments - up to $500 each month

  • $2,000 cashback bonus - limited time offer

Our verdict

If you want peace of mind over your mortgage repayments and like the idea of locking in a sub 3.00% rate for 3 years, you'll love this Fixed Home Loan from Suncorp. With no loan establishment fee and the ability to make up to $500 a month in extra repayments, this winner of the 2019 Mozo Experts Choice Awards for best Fixed Rate Home Loan is a real winner. You’ll even score a $2,000 cash bonus when you take out a loan of $250,000 or more (T&Cs apply).


Tic:Toc Variable Home Loan
  • 2.84% variable rate (2.85% comparison rate*)

  • Optional offset account

  • 2019 Mozo Experts Choice Online Lender of the Year

Our verdict

If you like the convenience of managing your mortgage online, then why not do it with one the best? Tic:Toc is the 2019 Mozo Experts Choice Online Lender of the Year, and its variable rate home loan offers up an attractively low interest rate, no application or ongoing service fees and an optional offset account to help you save on interest. In addition, you can pay your loan off faster with free additional repayments.


Homestar Star Essentials Home Loan
  • 2.74% p.a. variable rate (2.77% p.a. comparison rate*)

  • Unlimited free extra repayments and online redraw

  • No monthly or ongoing account fees

Our verdict

Homestar has been providing affordable mortgages since 2004 and the Star Essentials home loan is no exception, with a killer sub 3.00% variable rate that's one of the lowest in town. Not only could this loan help you save a small fortune over the life of your loan, it also delivers $0 application or ongoing fees and plenty of handy features to get excited about, such as free online redraws, multiple loan splits and a choice of weekly, fortnightly or monthly repayments.


UBank UHomeLoan
  • 2.69% fixed rate for 3 years (3.19% comparison rate*)

  • Free extra repayments up to $20,000 p.a.

  • Fast and easy online application

Our verdict

Want to lock in a sub 3.00% rate for 3 years? Check. No ongoing fees? Double check. Fee extra repayments up to $20,000 per year? You got it. If you're in the market for a fixed home loan, check out this 3 year Fixed Rate Special from Mozo Experts Choice Award winner, UBank. It also comes with the flexibility to choose your own repayment schedule (weekly, fortnightly or monthly) and the option to split between fixed and variable rates if you want to.

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

This is just a selection of our Mozo Experts Choice Home Loan winners, announced in 2019. Head over to our dedicated Awards page and see the full list of winners.

Or looking to check out more home loan options? View the latest home loan rates at Mozo's home loan comparison hub.

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