homeloans.com.au rewarding customers with home loan rate drops

couple excited to be able to afford a new home with low rates

Online lender homeloans.com.au announced a new initiative that may give their existing customers a surprise out-of-cycle rate drop to as little as 1.89% p.a. (1.89% p.a. comparison rate).

The ‘Fair Go’ initiative by the online lender came after working with renowned Australian cricketer Adam Gilchrist to create a reward system for loyal customers.

“Some banks will typically offer better rates to new customers, leaving existing customers on a higher rate. That doesn’t seem fair at all. Customer loyalty should be rewarded, and homeloans.com.au’s new Fair Go Guarantee is a great way to do that,” said Gilchrist.

The Fair Go system offers includes:

  • Fair Go Rates: where the lender will ensure to keep its home loan rates competitive.
  • Fair Go Fees: where upfront, ongoing and exit fees are eliminated. 
  • Fair Go Guarantee: where current customers will not pay higher rates than those offered to new customers.

“Doing things a certain way because every other lender does it that way is not good enough anymore. Our customers deserve better,” said Tim Boys, homeloans.com.au head of marketing.

How does homeloans.com.au compare?

For starters, the homeloans.com.au Low Rate Home Loan 80% LVR has variable rates starting from 1.99% p.a. (1.99% p.a. comparison rate) making homeloans.com.au home loan 115 basis points below the 3.14% variable rate average. With the new Fair Go Guarantee the new interest rate will be 125 basis points below the average.

With a low variable rate of 1.89% p.a., it puts homeloans.com.au’s Low Rate Home Loan 80% LVR amongst some of the lowest available rates in Mozo’s database.

Homeloans.com.au is one of the many lenders recently slashing its interest rates to make home ownership more feasible. In the past year, interest rates have been some of the lowest they have been, which is why so many first time homeowners are entering the market and so many current homeowners have been refinancing their mortgages.

If you are looking to take advantage of the flood of low home loan interest rates currently on offer, check Mozo’s home loan comparison hub to find which loan is right for you.

Home loan comparisons on Mozo - rates updated daily

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
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    Smart Booster Home Loan

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    1.85% p.a.variable for 24 months and then 2.25% p.a. variable
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    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.

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    Mozo Experts Choice 2021
    UHomeLoan

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    2.13% p.a.

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    Mozo Experts Choice 2021
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

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    1.99% p.a. variable
    1.99% p.a.

    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.

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    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

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    2.09% p.a.
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    2.32% p.a.

    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.

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    Variable Home Loan

    Owner Occupier, Principal & Interest

    interest rate
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    Initial monthly repayment
    2.55% p.a. variable
    2.58% p.a.

    Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.

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    Special Fixed Rate Home Loan

    Owner Occupier, Principal & Interest

    interest rate
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    1.89% p.a.
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    3.67% p.a.

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply.

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  • Hot DealGet a decision on your application fast
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    Prime Home Loan

    Owner Occupier, Principal & Interest, LVR <70%

    interest rate
    comparison rate
    Initial monthly repayment
    2.44% p.a. variable
    2.49% p.a.

    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.

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* 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.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. 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.

^See information about the Mozo Experts Choice Home Loan Awards

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