The best home loans in Australia for 2021

The best home loans in australia for 2021 content

Looking for the crème de la crème in home loans? Then you’ve come to the right place! It just so happens that Australia’s best home loans have just been revealed in the 2021 Mozo Experts Choice Home Loan Awards. 

Drawing on over 65 years combined experience in financial services, our expert judges analysed 560 home loans from 99 mortgage lenders for this year's awards, with only the top 10% of products in each category receiving the Mozo tick of approval.

The takeaway? Borrowers could save thousands! Choosing the best value home loan over the average big bank loan could save a typical borrower $93,000 over the life of the loan.* 

Find out for yourself by comparing the best value home loans of the year below.

loans.com.au Smart Booster Home Loan
loans.com.au
  • Low 1.99% p.a. variable rate (2.47% p.a. comparison rate*) for first year

  • Offset account option available

  • No application or service fees

  • Multi-award-winner in the 2021 Mozo Experts Choice Home Loan Awards^

Expert verdict:

With the Loans.com Smart Booster Home Loan prepare to get the royal treatment! The loan offers a super low 1.99% p.a. variable rate (2.47% p.a. comparison rate*) for the first year (with a low 2.48% p.a. revert rate) to owner-occupiers who go for the one-year discount special. In addition, you’ll also have the option to add an offset account with an additional 0.10% interest. And to top it all off, it took out not one, but two 2021 Mozo Experts Choice Awards^ in the Low Cost Home Loan and Offset Home Loan categories.

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

Bank of Queensland Discount Fixed Rate
Bank of Queensland
  • 2-year fixed rate of just 1.89% p.a. (3.05% p.a. comparison rate*)

  • $3,000 cashback offer when you refinance to BOQ (conditions apply)

  • 2021 Mozo Experts Choice Home Loan Award-winner

Expert verdict:

Looking for a value-packed home loan option that’s outside of the big four? The Bank Of Queensland Discount Fixed Rate Home Loan lets you lock in a super low rate for two years while still giving you the flexibility to pay off your mortgage faster with free extra repayments of up to $5,000 per year. As an added bonus, you can enjoy a generous $3,000 cash back offer when you refinance to BOQ (minimum loan size of $250,000, 80% LVR or less - Apply before 28 May 2021, settle by 27 August 2021.) Plus, it even took out a 2021 Mozo Experts Choice Fixed Rate Home Loan Award^.

UBank UHomeLoan - Discount Offer
UBank
  • Competitive 2.34% p.a. variable interest rate (2.34% p.a. comparison rate*)

  • No annual fees

  • Multi-award-winner in the 2021 Mozo Experts Choice Home Loan Awards^

Expert verdict:

The UBank UHomeLoan Discount Offer hits the ground running with a competitive 2.34% p.a. variable interest rate (2.34% p.a. comparison rate*) on loans from $100,000 or more. With this home loan, you won’t have to worry about any upfront or ongoing fees and will be able to take full advantage of the split home loan feature, free extra repayments and redraw facility. And if all that’s not enough then you’ll be happy to know that this loan took out two 2021 Mozo Experts Choice Awards^ in the Low Cost Home Loan and Split Home Loan categories.

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

Well Home Loans Well Balanced
Well Home Loans
  • 2.17% p.a. variable interest rate (2.20% p.a. comparison rate*)

  • Free extra repayments & redraw, plus optional offset account

  • No ongoing fees

  • Five-time winner in the 2021 Mozo Experts Choice Home Loan Awards^

Expert verdict:

The Well Home Loans Well Balanced Variable is a total show-stopper, taking out a jaw-dropping total of five awards in the 2021 Mozo Experts Choice Home Loan Awards^. This loan offers a low 2.17% p.a. (2.20% p.a. comparison rate*) for borrowers who can afford a 20% deposit. On top of this, you’ll be able to tailor your home loan to suit your needs thanks to the split loan option and optional offset account for $10 a month. Plus, it also comes with the ability to make free extra repayments, a redraw facility and no ongoing fees.

Where do I get it? Head over to Well Home Loans to find out more >>

Newcastle Permanent Special Real Deal Home Loan
Newcastle Permanent
  • 2.59% p.a. variable rate (2.63% p.a. comparison rate*)

  • Free extra repayments

  • No application or service fee

  • 2021 Mozo Experts Choice Home Loan Award-winner^

Expert verdict:

The Newcastle Permanent Special Real Deal gets the ball rolling with a competitive 2.59% p.a. variable interest rate (2.63% p.a. comparison rate*), no application or service fees, plus a partial offset account offer. On top of this, the home loan also comes with a cashback offer for refinancers too! If you make the switch to Newcastle Permanent from another lender you could receive $2,000 cashback (to be eligible you must apply by 31 March 2021 and be funded by 31 May 2021). Oh, and did we happen to mention that it took out a 2021 Mozo Experts Choice Award^ in the Offset Home Loan category?

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

Athena Celebrate Variable Home Loan
Athena
  • Low rates from 2.19% p.a. (2.19% p.a. comparison rate*) rate

  • Automatic discounts as loan is paid off

  • Zero fees

  • 2021 Mozo Experts Choice Home Loan Innovation Award-winner^

Expert verdict:

The Athena AcceleRATES Celebration Variable Home Loan offers some of the best value around for home loan borrowers with at least 40% deposit or equity. Not only does this home loan come with a killer variable rate and no upfront or ongoing fees, but it also rewards borrowers for paying down their mortgage, automatically lowering your rate as you pay down your loan. This loan is up for grabs for home buyers and refinancers buying an established property in a capital or major regional city. What’s also worth noting is that this loan scored Athena the prestigious Home Loan Innovation Award in the 2021 Mozo Experts Choice Home Loan Awards^.

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

86 400 Neat Home Loan
86 400
  • Variable rates from just 2.19% p.a. (2.20% p.a. comparison rate*) for owner-occupiers

  • No service fees

  • Free extra repayments & redraws

  • 2021 Mozo Experts Choice Home Loan Innovation multi-Award-winner^

Expert verdict:

With a maximum LVR of 60%, the 86 400 Neat variable Home Loan offers variable interest rates from as low as 2.19% p.a. (2.20% p.a. comparison rate*) for owner-occupiers and from 2.44% p.a. (2.45% p.a. comparison rate*) for investors, minimal fees, plus a range of flexible features, including free extra repayments and a free redraw facility. On top of this, the loan is now offering a limited-time cashback deal, plus, it even received not one, but two 2021 Mozo Experts Choice Awards^ in the Low Cost Home Loan and Investor Home Loan categories.

Where do I get it? Head over to 86 400 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 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.

^See information about the Mozo Experts Choice Home loans Awards

Interested in comparing more home loans? Check out the latest mortgage interest rates from over 80 different lenders by heading over to the Mozo home loan comparison hub.

To see the full list of this year’s home loan winners or to read through the methodology report, check out our dedicated 2021 Mozo Experts Choice Home Loan Awards page.

*Loan savings based on a $400,000 owner occupier loan over 25 years with principal and interest repayments.

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