Australia's cheapest home loans of 2019


03 Dec 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.


Tic:Toc Variable Home Loan
  • 2.79% variable rate (2.80% comparison rate*)

  • Optional offset account ($10 per year)

  • 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.


Athena Variable Home Loan
  • New 2.84% variable rate (2.80% comparison rate*)

  • Free extra repayments and redraw facility

  • No upfront or ongoing fees

Our verdict

New online lender Athena is on a mission to win customers over from the big banks, and the Athena Variable Home Loan is one of the best value home loans around. This refinance mortgage features a killer variable rate that stays great from day one to day none, a loyalty bonus just for making your repayments on time plus no application, valuation or ongoing fees. Initially available only to refinancers, this Athena Home Loan is now available to home buyers buying an established property in a  capital or major regional city.


Newcastle Permanent Special Real Deal Home Loan
  • 3.19% variable interest rate (3.23% comparison rate*)

  • Double 2019 Mozo Experts Choice winner

  • Borrow with just 10% deposit

Our verdict

Featuring a great low rate and no application or ongoing service fees, the Newcastle Permanent Real Deal Home Loan is just that: the real deal! Not only is it great value, but this loan also comes with features like the option to make free extra repayments, split your loan between fixed and variable rates and the use of a partial offset account. It’s little wonder it’s the winner of two Mozo Experts Choice Awards for First Home Buyer Loan and Investor Home Loans.

*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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