Lenders roll out red carpet with sizzling hot rates

Mozo

07 Aug 2019

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In a rates dream for Aussie borrowers, the home loan party is showing no signs of stopping as lenders launch new sizzling hot deals to take advantage of the rate cut momentum created by the Reserve Bank and tempt more borrowers to switch and save.

Online and rival lenders are leading the charge, with the likes of UBank and ME all slashing rates in recent weeks. While the average home loan rate currently sits at 3.93%, borrowers who are prepared to switch can now access ultra low variable rates from under 3.00%. Fixed rates are also tumbling and borrowers can now lock in a rate starting with a '2' for 1 or even 3 years.

With lenders rolling out the red carpet, savvy borrowers could save tens of thousands on their home loan by refinancing. So if you'd like to crush your mortgage in 2019, take a look at some of the top deals on the market right now and get switching!

TOP HOME LOANS AUGUST 2019 - rates updated daily

  • Promoted

    loans.com.au

    2.63% p.a. variable

    2.65% p.a.

    $1234

    Product details Close details
    Smart Home Loan 80

    A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.

    • 2.63% p.a. variable

    • 2.65% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $520

    • 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

    Homestar

    2.39% p.a. variable

    2.39% p.a.

    $1234

    Product details Close details
    Star Essentials Home Loan

    Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. Fee waiver special offer - ends 31st July 2020.

    • 2.39% p.a. variable

    • 2.39% p.a.

    • $0

    • $0.00

    • $535.00

    • yes - free

    • yes - free

    • no

    • $0

    • 80.00%

    • $150,000

    • $850,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Upfront fees waived up to $250 for valuation and up to $265 for legal documentation for applications received by 30 June 2020 and settled by 30 September 2020.

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

  • Promoted

    Commonwealth Bank

    2.29% p.a.
    fixed 2 years

    3.99% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Wealth Package

    Enjoy the security of a 2 year fixed rate. No establishment or ongoing fees. $2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.

    • 2.29% p.a.
      fixed 2 years

    • 3.99% p.a.

    • $200

    • $395.00 yearly

    • $350.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $200

    • 95.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

  • Promoted

    UBank

    2.59% p.a. variable

    2.59% p.a.

    $1234

    Product details Close details
    UHomeLoan - Discount Offer

    Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.

    • 2.59% p.a. variable

    • 2.59% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 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

    Suncorp

    2.29% p.a.
    fixed 2 years

    3.32% p.a.

    $1234

    Product details Close details
    Fixed Home Loan Special Offer Home Package Plus

    No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.

    • 2.29% p.a.
      fixed 2 years

    • 3.32% p.a.

    • $0

    • $375.00 yearly

    • $350.00

    • yes - free up to $500 per month

    • no

    • no

    • $0

    • 90.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Refinance from another lender to receive a $2,000 cash bonus for loans of at least $250,000 or $3,000 bonus for loans over $750,000. Available for loans with an LVR <90% and applications made by 10 July 2020 and settled by 10 November 2020.

    Read our Mozo Review to learn more about the Fixed Home Loan Special Offer

  • Promoted

    Mortgage House

    2.19% p.a.
    fixed 3 years

    2.65% p.a.

    $1234

    Product details Close details
    Switch and Save Special - Fixed Rate Home Loan

    Lock in this super-low rate for 3 years so you can budget accordingly and avoid the stress of a sudden rate rise. Avoid unnecessary costs with no monthly fees or ongoing package fees.

    • 2.19% p.a.
      fixed 3 years

    • 2.65% p.a.

    • $1,440

    • $0.00

    • $500.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $1,440

    • 80.00%

    • $150,000

    • $5,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Switch and Save Special - Fixed Rate Home Loan

  • Promoted

    Newcastle Permanent

    2.94% p.a. variable

    3.34% p.a.

    $1234

    Product details Close details
    Discounted Variable Home Loan Premium Plus Package

    Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. Extra repayments and redraw facility.

    • 2.94% p.a. variable

    • 3.34% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free

    • yes - free

    • yes

    • $0

    • 80.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

  • Promoted

    People's Choice Credit Union

    2.29% p.a.
    fixed 2 years

    3.82% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Package

    A People’s Choice 2 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.

    • 2.29% p.a.
      fixed 2 years

    • 3.82% p.a.

    • $0

    • $395.00 yearly

    • $350.00

    • yes - free up to $10,000 p.a

    • no

    • no

    • $0

    • 95.00%

    • $100,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

  • Promoted

    HSBC

    2.09% p.a.
    fixed 2 years

    2.98% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan

    Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^

    • 2.09% p.a.
      fixed 2 years

    • 2.98% p.a.

    • $0

    • $0.00

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $0

    • 80.00%

    • $50,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

  • Promoted

    Hot Deal $2,500 cashback when you refinance your home loan to BOQ (T&Cs apply)

    Bank of Queensland

    2.29% p.a.
    fixed 2 years

    3.52% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate

    Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).

    • 2.29% p.a.
      fixed 2 years

    • 3.52% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • $450

    • 80.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,500 cashback when you refinance your home loan to BOQ, min $250,000, 70% LVR or less. Apply before 15 August 2020.

    Read our Mozo Review to learn more about the Discount Fixed Rate

*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.

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