Home loan discount fever sparks switching frenzy
Mozo
28 Nov 2019
Aussies looking to save money on their home loan are racing to take advantage of this year's frenzy of home loan rate cuts, as smaller and non-bank lenders slash rates to crazy new lows.
The super sharp rates on offer from online and challenger lenders have created a perfect storm for the banks, as borrowers ditch and switch in search of bigger savings from smaller lenders who have been more generous in passing through the RBA's latest official interest rate cut.
With variable home loan rates now starting well below 3.00%, savvy borrowers could save tens of thousands on their home loan by refinancing. So if you'd like to crush your mortgage in 2019 and beyond, take a look at some of the top deals on the market right now and get switching!
TOP HOME LOANS DECEMBER 2019 - rates updated daily
-
Promoted
loans.com.au2.78% p.a. variable
2.80% p.a.
$1234
Product details Close detailsloans.com.auSmart Home Loan 75
Owner Occupier, Principal & Interest
2.78% p.a. variable
2.80% p.a.
The Smart Home Loan with no ongoing fees and unlimited free redraws with no minimum redraw amount. Competitive low rate. 25% deposit required.
Smart Home Loan 75
The Smart Home Loan with no ongoing fees and unlimited free redraws with no minimum redraw amount. Competitive low rate. 25% deposit required.
-
2.78% p.a. variable
-
2.80% p.a.
-
$520
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
75.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Smart Home Loan 75
-
-
Promoted
UBank
2.84% p.a. variable
2.84% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.84% p.a.
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
UHomeLoan - Discount Offer
Free redraw with flexible repayments. Min 20% deposit. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category^.
-
2.84% p.a. variable
-
2.84% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$200,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
-
-
Promoted
Athena2.84% p.a. variable
2.80% p.a.
$1234
Product details Close detailsAthenaVariable Home Loan - Refinance
Owner Occupier, Principal & Interest
2.84% p.a. variable
2.80% p.a.
No application fees, no monthly fees & no annual fees. Stay-great rates for the entirety of the loan, so you pay it off faster.
Variable Home Loan - Refinance
No application fees, no monthly fees & no annual fees. Stay-great rates for the entirety of the loan, so you pay it off faster.
-
2.84% p.a. variable
-
2.80% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
-
-
Featured Product
ING3.03% p.a. variable
3.06% p.a.
$1234
Product details Close detailsINGMortgage Simplifier
LVR<80%, Owner Occupier, Principal & Interest
3.03% p.a. variable
3.06% p.a.
Enjoy no ongoing monthly or annual account-keeping fees. Unlimited additional repayments. Redraw facility available. If you choose to round up your Orange Everyday, every card purchase will help to directly reduce your outstanding home loan balance.
Mortgage Simplifier
Enjoy no ongoing monthly or annual account-keeping fees. Unlimited additional repayments. Redraw facility available. If you choose to round up your Orange Everyday, every card purchase will help to directly reduce your outstanding home loan balance.
-
3.03% p.a. variable
-
3.06% p.a.
-
$299
-
$0.00
-
$250.00
-
yes - free
-
yes
-
no
-
80.00%
-
$150,000
-
$999,999
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Mortgage Simplifier
-
-
Promoted
Bank of Queensland2.79% p.a.
fixed 3 years3.67% p.a.
$1234
Product details Close detailsBank of QueenslandDiscount Fixed Rate 300k+
Owner Occupier, Principal & Interest
2.79% p.a.
fixed 3 years3.67% p.a.
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
Discount Fixed Rate 300k+
Minimum loan amount of $300k. 20% deposit needed. Free additional repayments up to $5,000 per year.
-
2.79% p.a.
fixed 3 years -
3.67% p.a.
-
$450
-
$10.00 monthly
-
$320.00
-
yes - free up to $5,000 p.a
-
no
-
no
-
80.00%
-
$300,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Discount Fixed Rate 300k+
-
-
Promoted
Hot Deal Homestar will donate $250 to the bushfire appeal for every complete loan application received in Feb.
Homestar2.69% p.a. variable
2.72% p.a.
$1234
Product details Close detailsHomestarStar Gold Home Loan
Owner Occupier, Principal & Interest
2.69% p.a. variable
2.72% p.a.
An exceptional low rate for owner occupiers with 40% of more equity in their home. No ongoing fees. Unlimited additional repayments with free online redraws. loan size $150k to $750k, no construction loans. Metro Areas Only.
Star Gold Home Loan
An exceptional low rate for owner occupiers with 40% of more equity in their home. No ongoing fees. Unlimited additional repayments with free online redraws. loan size $150k to $750k, no construction loans. Metro Areas Only.
-
2.69% p.a. variable
-
2.72% p.a.
-
$512
-
$0.00
-
$535.00
-
yes - free
-
yes - free
-
no
-
60.00%
-
$150,000
-
$750,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Star Gold Home Loan
-
-
Promoted
loans.com.au2.88% p.a. variable
2.90% p.a.
$1234
Product details Close detailsloans.com.auSmart Home Loan 80
Owner Occupier, Principal & Interest
2.88% p.a. variable
2.90% p.a.
A low-rate home loan that could save you thousands. No ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only. 20% deposit required.
Smart Home Loan 80
A low-rate home loan that could save you thousands. No ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount, Limited time only. 20% deposit required.
-
2.88% p.a. variable
-
2.90% p.a.
-
$520
-
$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Smart Home Loan 80
-
-
Promoted
IMB Bank3.03% p.a. variable
3.09% p.a.
$1234
Product details Close detailsIMB BankBudget Home Loan
LVR <80%, Owner Occupier, Principal & Interest
3.03% p.a. variable
3.09% p.a.
With interest rates as low as 3.03% (3.09% comparison rate*) for owner-occupiers with at least a 20% deposit, and no upfront fees, getting this loan starts you off on the right foot. Free extra repayments and redraw.
Budget Home Loan
With interest rates as low as 3.03% (3.09% comparison rate*) for owner-occupiers with at least a 20% deposit, and no upfront fees, getting this loan starts you off on the right foot. Free extra repayments and redraw.
-
3.03% p.a. variable
-
3.09% p.a.
-
$773
-
$0.00
-
$350.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$75,000
-
$5,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Budget Home Loan
-
-
Promoted
Hot Deal Homestar will donate $250 to the bushfire appeal for every complete loan application received in Feb.
Homestar2.74% p.a. variable
2.77% p.a.
$1234
Product details Close detailsHomestarStar Essentials Home Loan
Owner Occupier, Principal & Interest
2.74% p.a. variable
2.77% p.a.
One of the lowest home loan rates in town packed with essential features. No ongoing fees. Unlimited additional repayments with free online redraws. Min. loan size $150k, no construction loans.
Star Essentials Home Loan
One of the lowest home loan rates in town packed with essential features. No ongoing fees. Unlimited additional repayments with free online redraws. Min. loan size $150k, no construction loans.
-
2.74% p.a. variable
-
2.77% p.a.
-
$512
-
$0.00
-
$535.00
-
yes - free
-
yes - free
-
no
-
80.00%
-
$150,000
-
$850,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Star Essentials Home Loan
-
-
Promoted
Newcastle Permanent 3.19% p.a. variable
3.23% p.a.
$1234
Product details Close detailsNewcastle Permanent Special Real Deal Home Loan
Owner Occupier, Principal & Interest
3.19% p.a. variable
3.23% p.a.
No ongoing fees. Ability to split your loan between fixed and variable. First home buyers receive $2,500 cash back on loans $250K and above. Cash back will be deposited to the borrower’s NPBS Everyday Account after settlement.
Special Real Deal Home Loan
No ongoing fees. Ability to split your loan between fixed and variable. First home buyers receive $2,500 cash back on loans $250K and above. Cash back will be deposited to the borrower’s NPBS Everyday Account after settlement.
-
3.19% p.a. variable
-
3.23% p.a.
-
$0
-
$0.00
-
$0.00
-
yes - free
-
yes - fees apply
-
yes - partial only
-
90.00%
-
$150,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
First Home Buyers can receive $2,500 for applications for loan amounts of $250,000 or more received before 30 April 2020 and settled by 30 June 2020 with a Newcastle Permanent Everyday Account.
Read our Mozo Review to learn more about the Special Real Deal Home Loan
-
Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.
