CommBank backed digital home loan still turning heads
Designed to ‘undo’ your mortgage, it’s 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
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
Unloan Variable
For investors, Unloan's low variable rate comes in at a competitive 6.04% p.a. (5.95% 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.
Other home loans our editors love
ubank - Neat Home Loan
- Variable rates from 6.14% (6.16% comparison rate*) - min 40% deposit
- Fast and paperless online application process
- Free extra repayments
ubank has made a name for itself as one of Australia's best value online lenders, and its new Neat Home Loan is a case in point. This low cost variable home loan rewards borrowers with lower loan-to-value-ratios (LVRs) with its best rates, while also being light on fees. Features include free extra repayments and redraw. Plus, ubank is backed by NAB so you get all of the savings an online lender can offer, as well as the security of big bank backing.
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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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