Looking for the crème de la crème in home loans? Then you’ve come to the right place. Australia’s best home loans have been revealed in the 2021 Mozo Experts Choice Home Loan Awards^ to help you find a mortgage to suit your home buyer needs.
Drawing on more 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.
Australia's best home loans
loans.com.au Smart Booster Home Loan
Low 1.85% p.a. variable rate (2.21% p.a. comparison rate*) for the first 2 years
Offset account option available
No application or service fees
Multi-award-winner in the 2021 Mozo Experts Choice Home Loan Awards^
With the Loans.com Smart Booster Home Loan prepare to get the royal treatment! The loan offers a super low 1.85% p.a. variable rate (2.21% 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.
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
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^.
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.
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 1.99% p.a. (2.02% 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.
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?
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^.
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^
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.
*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.