Aussies looking to save money on their home loan are racing to take advantage of the latest home loan rate cuts following the Reserve Bank's decision to lower the official cash rate for the second month in a row.
Online and challenger lenders are fighting it out to offer the biggest savings, with loans.com.au, Athena and HomeStar all cutting rates to jaw dropping low levels. Savvy borrowers could save tens of thousands on their home loan by refinancing.
With variable and fixed rates plunging below 3.00%, it's no wonder borrowers are acting fast to snap these deals up. So if you'd like to crush your mortgage in 2019, take a look at some of the top deals for refinancers currently on the market and get switching!
Super low rate? Check. No application or annual fees? Check. Handy features like unlimited free extra repayments and a redraw facility? Double check. The loans.com.au Smart Home Loan comes with all this great value included. You can also choose a split rate option and your repayment schedule. But hurry, as this offer is available for a limited time only.
2.99% fixed rate for 1 year (3.63% comparison rate*)
This jaw dropping new offer from popular online lender UBank is flying off the shelves right now. It comes with a killer sub 3.00% fixed rate that's topping the Mozo low rate home loan comparison database, plus no ongoing fees and the ability to make free extra repayments up to $20,000 each year. It's fast and easy to apply online, and you can choose between weekly, fortnightly or monthly repayments.
ME Flexible Home Loan
3.39% variable rate (3.83% comparison rate*)
Repayments holiday available
Offset account available
ME delivers amazing deals on the total package for investors and owner occupiers alike with the Flexible Home Loan Member Package. With variable rates as low as 3.39% (3.83% comparison rate*), plus money-saving features like an offset account and the option to take a repayments holiday if necessary, this could just what you have been searching for.
Bank of Queensland Discount Fixed Rate
Bank of Queensland
3.19% fixed rate for 3 years (4.14% comparison rate*)
$1,000 cashback for first home buyers - limited time only
Free extra repayments up to $5,000 each year
This new offer from BOQ comes with a super competitive fixed rate for the first three years, no minimum loan amount and the flexibility to pay off your loan faster by making free extra repayments up to $5,000 each year. And here’s the kicker - first home buyers can score $1,000 cashback for a limited time.
This discounted home loan offer from HSBC proves that big banks can deliver competitive value. With a low variable rate, unlimited free extra repayments and free online redraw, plus no ongoing fees if you apply by 31 July, this home loan offers value and flexibility in spades. You'll even get an HSBC relationship manager to help you through the application process.
*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 the amount and term you entered.
**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.