Fall back in love with your home loan by snagging a low rate deal

By Kelly Emmerton · Wednesday, 14 February 2018 · 3 min read

Fact Checked

It’s easy to get stuck in a rut with your mortgage, and to stay with the same lender because it’s simpler than switching. But if the romance has gone out of your home loan and you’re no longer feeling the love with your current lender, it may be time to think about playing the field.

“There are no less than 70 lenders in Mozo’s database offering variable interest rates lower than 4.00%. With numbers like that, I’d say it’s high time Aussies review their home loan situation and find out if there’s a better deal out there,” said Mozo Director Kirsty Lamont.

To help you find a home loan that treats you right, we’ve listed some of our top refinancing home loan picks below.

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.

Important disclosures and comparison rate warning*

Important disclosures

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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 Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.

Comparison rate warning

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.

How Initial Monthly Repayments figures are estimated

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.

loans.com.au - Essentials Variable 90

3.52% interest rate (3.54% comparison rate)
No application fee
Free extra repayments and redraw facility

Find out more

The loans.com.au Essentials 80 is packed full of the value you love in a home loan, from a super low rate and no application fee, right through to money saving features like the chance to make free extra repayments. This one’s available for up to $2 million with a maximum LVR of 80% - perfect for refinancers after a rock bottom rate!

Newcastle Permanent - Discounted Variable Home Loan

3.64% interest rate (4.03% comparison rate)
No upfront application fee (yearly fee applies)
Free extra repayments, redraw and repayment holiday

Find out more

If you’re after a home loan with all the bells and whistles to help you save, look no further than the Newcastle Permanent Discounted Variable Premium Package. With free extra repayments, a redraw facility, offset account and the option to split your loan between fixed and variable rates, you won’t miss out on features with this low rate option.

Click Loans - The Online Home Loan

3.64% interest rate (3.64% comparison rate)
No ongoing service fee (application fee applies)
Optional offset account (fee applies)

The Online Home Loan from ClickLoans comes with a bargain interest rate, plus free extra repayments up to $10,000 per year, and a free redraw facility. You’ll need to have a maximum loan-to-value ratio of 70% to take out this loan, so it’s perfect for refinancers who have already chipped away a chunk from their original loan.

Want more options before you choose the perfect home loan to capture your heart? Head over to check out some more refinancing home loans.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

^* 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

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.