Home loan rate cuts spark refinance frenzy
Aussies looking to save money on their home loan are racing to take advantage of the latest frenzy of home loan rate cuts, as major bank and non-bank lenders compete to slash rates to crazy new lows.
The super sharp rates on offer have created the perfect opportunity for savvy borrowers to shop around and potentially save thousands of dollars a year on their home loan by switching. Top lenders like HSBC, ING, Suncorp, Loans.com.au and UBank have all introduced new low rates in recent weeks, some with lucrative cashback offers to tempt refinancers even further.
With variable home loan rates now starting from under 2.00% and fixed rates hitting new rock bottom lows of close to 2.00%, there's never been a better time to review your current rate against the market. So if you'd like to crush your mortgage in 2020 and beyond, take a look at some of the top deals available right now and get switching!
Top Home Loans - rates updated daily
Smart Booster Home Loan
2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
interest ratecomparison rateInitial monthly repayment1.85% p.a.variable for 24 months and then 2.25% p.a. variable2.21% p.a.Smart Booster Home Loan
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
- interest rate
- 1.85% p.a.variable for 24 months and then 2.25% p.a. variable
- comparison rate
- 2.21% p.a.
- Upfront fees
- $520
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- Optional - with 0.10% additional interest
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $1,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Smart Booster Home Loan
UHomeLoan
Owner Occupier, Principal & Interest
interest ratecomparison rateInitial monthly repayment1.95% p.a.
fixed 3 years2.27% p.a.UHomeLoan
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
- interest rate
- 1.95% p.a.
fixed 3 years
- comparison rate
- 2.27% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free up to $20,000 during fixed rate term
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.
Read our Mozo Review to learn more about the UHomeLoan
Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
interest ratecomparison rateInitial monthly repayment1.99% p.a. variable1.99% p.a.Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
- interest rate
- 1.99% p.a. variable
- comparison rate
- 1.99% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Variable Home Loan
Owner Occupier, Principal & Interest
interest ratecomparison rateInitial monthly repayment1.99% p.a. variable1.99% p.a.Variable Home Loan
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
- interest rate
- 1.99% p.a. variable
- comparison rate
- 1.99% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes - offset sub account
- Maximum loan to value ratio
- 75.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,500,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Variable Home Loan
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest ratecomparison rateInitial monthly repayment2.09% p.a.
fixed 3 years2.32% p.a.Basic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
- interest rate
- 2.09% p.a.
fixed 3 years
- comparison rate
- 2.32% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $750,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Basic Home Loan
Variable Home Loan Special
Owner Occupier, Principal & Interest, LVR <70%
interest ratecomparison rateInitial monthly repayment1.99% p.a. variable2.02% p.a.Variable Home Loan Special
Special rate applies to home loan applications submitted by 31 October 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.
- interest rate
- 1.99% p.a. variable
- comparison rate
- 2.02% p.a.
- Upfront fees
- $849
- Ongoing fees
- $0.00
- Discharge Fee
- $500.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- Optional - $10 per month
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $1,500,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- Special rate applies to home loan applications submitted by 31 October 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
- Featured Product
Prime Home Loan
Owner Occupier, Principal & Interest, LVR <70%
interest ratecomparison rateInitial monthly repayment2.44% p.a. variable2.49% p.a.Prime Home Loan
Competitive low variable rates for borrowers with 30% deposit. Flexible home loan with no ongoing fees. Extra repayments and redraw available. Get a dedicated specialist for the loan application process.
- interest rate
- 2.44% p.a. variable
- comparison rate
- 2.49% p.a.
- Upfront fees
- $710
- Ongoing fees
- -
- Discharge Fee
- $250.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $1,250,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Prime Home Loan
Equity Plus
Owner Occupier, Principal & Interest, LVR <60%
interest ratecomparison rateInitial monthly repayment1.87% p.a. variable1.90% p.a.Equity Plus
Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.
- interest rate
- 1.87% p.a. variable
- comparison rate
- 1.90% p.a.
- Upfront fees
- $785
- Ongoing fees
- $0.00
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $200,000
- maximum borrowing amount
- -
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Equity Plus
- Hot Deal$3,000 cashback offer when you refinance your home loan to BOQ. To qualify, apply by 29 August 2021, T&Cs apply.
Discount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
interest ratecomparison rateInitial monthly repayment1.99% p.a.
fixed 2 years3.07% p.a.Discount Fixed Rate
Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 29 August, 2021 and get $3,000 cashback(T&Cs apply).
- interest rate
- 1.99% p.a.
fixed 2 years
- comparison rate
- 3.07% p.a.
- Upfront fees
- $450
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - free up to $5,000 p.a
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 29 August 2021, settle by 26 November 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
UHomeLoan (1 Yr Fixed)
Owner Occupier, Principal & Interest
interest ratecomparison rateInitial monthly repayment1.79% p.a.
fixed 1 year2.32% p.a.UHomeLoan
Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.
- interest rate
- 1.79% p.a.
fixed 1 year
- comparison rate
- 2.32% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free up to $20,000 during fixed rate term
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.
Read our Mozo Review to learn more about the UHomeLoan
^See information about the Mozo Experts Choice Home Loan Awards
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