Borrower bonanza as lenders cut rates

Mozo

08 May 2019

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Aussies looking to save money on their home loan are racing to take advantage of the new wave of discounted home loans hitting the market in recent weeks. Loans.com.au, Tic:Toc, Homestar and ME are just a few of the lenders fighting it out with new low variable and fixed rates right now, and savvy borrowers could save tens of thousands on their home loan by refinancing.

With variable rates plunging below 3.50%, 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!

TOP HOME LOANS MAY 2019 - rates updated daily

  • Promoted

    loans.com.au

    3.48% p.a. variable

    3.50% p.a.

    $1234

    Product details Close details
    Smart Home Loan

    A low-rate home loan that could save you thousands. No application or ongoing fees. Unlimited additional repayments. Unlimited free redraws with no minimum redraw amount.

    • 3.48% p.a. variable

    • 3.50% 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

  • Promoted

    UBank

    3.59% p.a. variable

    3.59% p.a.

    $1234

    Product details Close details
    UHomeLoan - Discount Offer

    Enjoy a low rate & no bank fees (on variable loans) from one of Australia's leading digital banks. Easy & fast to apply, you'll get free redraw with flexible repayments. Min. 20% deposit required. Winner of a Mozo Experts Choice Award 2019 in the Low Cost Home Loan category.

    • 3.59% p.a. variable

    • 3.59% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes

    • no

    • 80.00%

    • $200,000

    • $699,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan - Discount Offer

  • Promoted

    Athena

    3.59% p.a. variable

    3.55% p.a.

    $1234

    Product details Close details
    Variable Home Loan

    With low rates, no fees, and automatic rate match, new-comer Athena wants you to love them and leave them. Refinance only. Minimum 20% deposit.

    • 3.59% p.a. variable

    • 3.55% 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

    Read our Mozo Review to learn more about the Variable Home Loan

  • Promoted

    Virgin Money

    3.69% p.a. variable

    3.83% p.a.

    $1234

    Product details Close details
    Reward Me Variable Rate Home Loan

    Get competitive rates from 3.69% p.a., 20,000 Velocity Points for every $100,000 drawn at settlement on top of a 100% offset account and free redraw.

    • 3.69% p.a. variable

    • 3.83% p.a.

    • $150

    • $10.00 monthly

    • $320.00

    • yes - free

    • yes - free

    • yes

    • 80.00%

    • $750,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Reward Me Variable Rate Home Loan

  • Promoted

    Tic:Toc

    3.47% p.a. variable

    3.48% p.a.

    $1234

    Product details Close details
    Variable Home Loan

    Get full approval online. Tic:Toc’s award-winning platform could save you thousands with low rates and no application, valuation or settlement fees. Fee free redraws and extra repayments. Add an optional offset account for $10 per month. Mozo Experts Choice Awards - Online Home Lender of the Year 2019

    • 3.47% p.a. variable

    • 3.48% p.a.

    • $0

    • $0.00

    • $325.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • 90.00%

    • $50,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Variable Home Loan

  • Promoted

    RACQ Bank

    3.69% p.a. variable

    3.69% p.a.

    $1234

    Product details Close details
    Mortgage Saver Special

    $0 Establishment fee. Plus 15% off Home & Contents Insurance for the life of the loan with Home Plus. T&Cs apply. QLD Residents only.

    • 3.69% p.a. variable

    • 3.69% p.a.

    • $0

    • $0.00

    • $297.00

    • yes - free

    • yes - free

    • no

    • 95.00%

    • $20,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Mortgage Saver Special

  • Promoted

    Newcastle Permanent

    3.89% p.a. variable

    4.29% p.a.

    $1234

    Product details Close details
    Discounted Variable Home Loan Premium Plus Package

    With competitive interest rates for all types of borrowers, no application fees and flexible features like an offset account and redraw facility the Newcastle Permanent Discounted Variable Home Loan (Premium Plus Package) could be a great all round option.

    • 3.89% p.a. variable

    • 4.29% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free

    • yes - free

    • yes

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Discounted Variable Home Loan

  • Promoted

    Hot Deal Upfront fees waived (Apply by 28 June 2019 – T&Cs apply)

    Homestar

    3.49% p.a. variable

    3.49% p.a.

    $1234

    Product details Close details
    Star Essentials Home Loan

    A super low rate home loan packed with the essentials. No application or ongoing fees. Unlimited additional repayments. Free online redraws when that holiday beckons. For a limited time, refinancers can save more with up to $515 third party upfront fees waived – so get in quick! Loan size $200k to $750k, no construction loan.

    • 3.49% p.a. variable

    • 3.49% p.a.

    • $0

    • $0.00

    • $535.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $200,000

    • $749,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Star Essentials Home Loan

  • Promoted

    Mortgage House

    3.29% p.a. variable

    3.36% p.a.

    $1234

    Product details Close details
    Red Home Home Loan - Early Bird Special

    A Mozo Exclusive rate for loans up to $1.5M with a low 3.29% ongoing variable rate (3.36% comparison rate).

    • 3.29% p.a. variable

    • 3.36% p.a.

    • $940

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $150,000

    • $1,500,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Red Home Home Loan - Early Bird Special

  • Promoted

    Macquarie

    3.59% p.a.
    fixed 3 years

    3.67% p.a.

    $1234

    Product details Close details
    Basic Home Loan

    Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.

    • 3.59% p.a.
      fixed 3 years

    • 3.67% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home 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.

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