Did you know that Kogan has just launched new low rate home loans?
Shopping around for a new laptop? How about a home loan? Well Australian online retailer Kogan.com could be your destination for both with the release of a suite of new variable and fixed rate home loans for both owner occupiers and investors.
Available from today, Kogan is offering two different home loan ranges for potential buyers: an Essentials Home Loans range funded by Adelaide Bank for typical applicants and an Options Home Loan range funded by Pepper for those with more unique circumstances, such as self-employed Australians.
With variable interest rates starting from 3.69% (3.70% comparison rate*), the Kogan Money Essential Home Loan is available to owner-occupiers with an LVR of 80% or below and features a $150 application fee and an optional offset account for $10 a month.
Kogan is also offering a variable investor loan with rates starting from 3.89% (3.90% comparison rate*) for investors with an LVR of 80% or below making principal and interest repayments.
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According to Mozo figures, both Kogan rates sit well below the respective averages in the Mozo database.
The average variable owner occupier rate for a $400,000 loan with principal and interest repayments and an 80% LVR in the Mozo database is currently 4.35%, while the average investor loan based on the same figures currently sits at 4.80%.
“There’s no doubt that Kogan’s new suite of competitively-priced home loans will give buyers something to think about, but they’re not going to blow anyone’s socks off,” said Mozo Product Data Manager, Peter Marshall.
“Buyers may like the convenience of an online platform, but given there are a number of equivalent or lower priced alternatives currently in the Mozo database from both online lenders and traditional banks it could be worth making the effort to shop around.”
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The move into home loans is just the latest shift by Kogan outside of its traditional online retail domain, having already joined the likes of fellow retail giants Woolworths and Coles with an expansion into telecommunications and insurance.
And perhaps unsurprisingly as an online provider, Kogan are promising a simple applications process and speedy turnaround for home loan applicants.
“Digital efficiency continues to be a key driver of our ability to achieve price leadership, and we’ve taken this approach with our Kogan Money Home Loans offering,” said Executive Director of Kogan.com, David Shafer.
“Kogan Money Home Loans is making this process easier and more efficient for the many Australians looking to secure a home loan either when purchasing a property or as part of a refinance. A large part of Kogan Money Home Loans’ mission is to provide solutions to help people lower the cost of owning homes and investment properties and to achieve property ownership.”
RELATED: Kogan launches life insurance for online shoppers
Want to learn more? Grab even more information about the fees and features of Kogan’s new variable and fixed rate Essential Home Loans, or check out some other great home loan deals below.
Home loan offers 2018 - last updated 19 March 2024
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Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Owner Occupier, Refinance Only, LVR <80%
variable rate
comparison rate
Initial monthly repayment5.99% p.a.5.90% p.a.For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
CompareCompareUnloan Variable
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
- variable rate
- 5.99% p.a.
- comparison rate
- 5.90% p.a.
- variable rate
- 5.99% p.a.
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
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Featured Product
Ultra Low Rate <95% LVR
Owner Occupier, Principal & Interest
variable rate
comparison rate
Initial monthly repayment6.30% p.a.6.58% p.a.Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required.
CompareCompareUltra Low Rate <95% LVR
Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required.
- variable rate
- 6.30% p.a.
- comparison rate
- 6.58% p.a.
- variable rate
- 6.30% p.a.
- comparison rate
- 6.58% p.a.
- Upfront fees
- $790
- Ongoing fees
- $0.00
- Discharge Fee
- $795.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $350,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Sucasa Ultra Low Rate <95% LVR
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Offset Home Loan
Package, Owner Occupier, LVR<60%, Principal & Interest
variable rate
comparison rate
Initial monthly repayment6.15% p.a.6.40% p.a.Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
CompareCompareOffset Home Loan
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- variable rate
- 6.15% p.a.
- comparison rate
- 6.40% p.a.
- variable rate
- 6.15% p.a.
- comparison rate
- 6.40% p.a.
- Upfront fees
- $350
- Ongoing fees
- $248.00 yearly
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Offset Home Loan
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OMG Home Loan
Owner Occupier, Principal & Interest, <60% LVR
variable rate
comparison rate
Initial monthly repayment5.99% p.a.6.00% p.a.BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
CompareCompareOMG Home Loan
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- variable rate
- 5.99% p.a.
- comparison rate
- 6.00% p.a.
- variable rate
- 5.99% p.a.
- comparison rate
- 6.00% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $395.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $1,500,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the BCU Bank OMG Home Loan
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Straight Up
Obliterate, Owner Occupier, Principal & Interest, <50% LVR
variable rate
comparison rate
Initial monthly repayment6.24% p.a.6.24% p.a.Get a low variable rate depending on your deposit with Athena’s Straight Up Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
CompareCompareStraight Up
Get a low variable rate depending on your deposit with Athena’s Straight Up Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
- variable rate
- 6.24% p.a.
- comparison rate
- 6.24% p.a.
- variable rate
- 6.24% p.a.
- comparison rate
- 6.24% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 50.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,500,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Athena Straight Up
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* 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
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
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