First home buyers to benefit in latest home loan offer from online lender loans.com.au

By Remy Taylor ·

Veteran fintech loans.com.au, known for driving competition in the home loans industry with innovative and low-rate offers, has announced it will be offering loans with Loan-to-Value ratios (LVR) up to 90% at reduced rates, in a bid to help hoist first home buyers up onto the property ladder.  

It comes after loans.com.au saw an increase in activity from people entering the housing market for the first time, as property prices plummet.
 
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“People buying for the first time haven’t usually been able to accumulate as much equity as those who have already enjoyed the capital gains from home ownership but we don’t think they should be penalised for that,” said loans.com.au Managing Director Marie Mortimer.

“To help them take advantage of this long-awaited opportunity to enter the market, we have reduced our interest rate on LVR 90 Offset home loans to the same as LVR 80 and offered our streamlined Essentials home loan at LVR 90 for the first time.”

What’s the offer?

Essentials Variable
  • Low 3.64% p.a. (comparison rate 3.66% p.a.)
  • Now available up to 90% LVR
  • No ongoing fees
Offset Variable
  • Rate cut from 4.04% p.a. to a low 3.72% p.a. (3.74% p.a. comparison rate).
  • Now available up to 90% LVR
  • Offset account to help you save on interest

This means Aussie first home buyers will not only need a smaller deposit but can score a lower interest rate, all whilst getting into the market quicker.

How does it compare?

Loans.com.au Essentials 90% LVR vs Average 90% LVR home loan rate

EssentialsAverage rate
Interest rate3.64% p.a.4.46% p.a.
Interest over 30 years$257,930$326,208

The Essentials OO PI offer at 3.64% p.a. (comp rate 3.66%) first home buyers with a $400,000 variable rate home loan with an LVR of 90% will pay $257,930 in interest over 30 years, whereas the average interest for Owner Occupier, Principal & Interest paid would be $326,208. That's a $68,278 difference! 

If you’re a first home buyer looking to break into the property market then this might be your chance. Check out loans.com.au home loan offers or head over to home loans comparison page for an overview of your options.

Low Deposit Home Loans - last updated January 23, 2021

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    interest rate
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    Initial monthly repayment
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    2.89% p.a.

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    LVR<90%, Owner Occupier, Principal & Interest

    interest rate
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    Initial monthly repayment
    2.69% p.a. variable
    2.70% p.a.

    No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply. Minimum 10% deposit.

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    Owner Occupier, Principal & Interest, Home Loan Package

    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a.
    fixed 3 years
    3.64% p.a.

    A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.

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  • Well Balanced

    Investor, Principal & Interest, LVR <90%

    interest rate
    comparison rate
    Initial monthly repayment
    2.87% p.a. variable
    2.90% p.a.

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  • Fixed Home Loan Special Offer

    Owner Occupier, Principal & Interest

    interest rate
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    Initial monthly repayment
    2.19% p.a.
    fixed 3 years
    3.03% p.a.

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