The ground-breaking CommBank backed digital home loan to put on your radar

Designed to ‘undo’ your mortgage, the Unloan home loan built by CommBank has got a stellar variable rate of 5.99% p.a.  (5.90% p.a. comparison rate*) and a loyalty incentive that gives borrowers an extra 0.01% p.a. discount, every single year, for a maximum of 30 years. It also does away with pesky fees, charging zero application fees, account fees, change fees or exit fees. 

Unloan has impressed our home loan experts so much, it has taken out a Low Cost Home Loan award for two years running in the Mozo Experts Choice Home Loan Awards.^ 

“Now more than ever, borrowers are looking for ways to reduce their mortgage repayments,” said Mozo awards judge, Peter Marshall. “With the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan continues to set the bar for what a leading home loan looks like in 2024.”

Unloan claims its online application process can be completed in as little as 10 minutes, and is working towards a fully digital approval process. Owner-occupiers with at least 20% deposit or equity can apply now, for loans of up to $3 million.

OWNER OCCUPIERS

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Important disclosures and comparison rate warning*
Unloan Variable
  • 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
  • Zero upfront or ongoing fees
  • Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.

INVESTORS

Mozo may receive payment if you click to the website of one of the products below. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Unloan Variable
  • 6.29% p.a. variable rate (6.20% p.a. comparison rate*)
  • Zero upfront or ongoing fees

For investors, Unloan's low variable rate comes in at a competitive 6.29% p.a. (6.20% p.a. comparison rate*), with the same increasing loyalty discount rate up to thirty years. There are no application or other upfront fees, and no ongoing fees and investors get the same loan features as owner occupiers, including free extra repayments and redraws. Available for investment loans of up to $10M. Minimum 20% deposit.

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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.


* 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 $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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 Loan Awards

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