Lenders slash rates as spring property season heats up

Tom Watson

28 Sep 2020

Spring house content

The spring property season is well and truly underway with auction rates on the rise, buyers jumping into the market and lenders slashing home loan rates. That’s right, home loan rates are still dropping! 

ING, Commonwealth Bank and UBank are just some of the lenders to have taken the axe to rates just in time for spring, all offering variable rates below the 2.70% mark. 

And with the average variable home loan rate hovering around 3.35%, the savings opportunities could be massive for savvy spring borrowers. Get started yourself by comparing these great home loan offers below...

KILLER SPRING HOME LOANS 2020

Rates updated daily. Advertiser disclosure.

  • loans.com.au
    Mozo Expert Choice Badge" style="width:60px;">

    1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    2.47% p.a.

    $1234

    Product details Close details
    Smart Booster Home Loan

    1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR

    1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    2.47% p.a.

    A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.

    Smart Booster Home Loan

    A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.

    • 1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    • 2.47% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • Optional - with 0.10% additional interest

    • $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 Booster Home Loan

    Details Close

  • UBank

    1.75% p.a.
    fixed 3 years

    2.22% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.75% p.a.
    fixed 3 years

    2.22% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    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.

    • 1.75% p.a.
      fixed 3 years

    • 2.22% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free up to $20,000 p.a.

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2022. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.43% p.a.

    $1234

    Product details Close details
    Basic Home Loan

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

    2.09% p.a.
    fixed 3 years

    2.43% p.a.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    Basic Home Loan

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

    • 2.09% p.a.
      fixed 3 years

    • 2.43% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

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

    Details Close

  • Athena
    Mozo Expert Choice Badge" style="width:60px;">

    2.19% p.a. variable

    2.19% p.a.

    $1234

    Product details Close details
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    2.19% p.a. variable

    2.19% p.a.

    Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.

    Celebrate Variable Home Loan

    Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.

    • 2.19% p.a. variable

    • 2.19% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • $0

    • 60.00%

    • $100,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

    Details Close

  • Tic:Toc

    1.89% p.a.
    fixed 2 years

    2.15% p.a.

    $1234

    Product details Close details
    Fixed Home Loan

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    2.15% p.a.

    Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^

    Fixed Home Loan

    Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^

    • 1.89% p.a.
      fixed 2 years

    • 2.15% p.a.

    • $0

    • $0.00

    • $325.00

    • yes - free, up to $20,000 p.a.

    • yes - free

    • Optional - $10 per month

    • $0

    • 90.00%

    • $50,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

    Details Close

  • Well Home Loans
    Mozo Expert Choice Badge" style="width:60px;">

    2.17% p.a. variable

    2.20% p.a.

    $1234

    Product details Close details
    Well Balanced

    Owner Occupier, Principal & Interest, LVR <80%

    2.17% p.a. variable

    2.20% p.a.

    Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.

    Well Balanced

    Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.

    • 2.17% p.a. variable

    • 2.20% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $785

    • 80.00%

    • $200,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Well Balanced

    Details Close

  • Newcastle Permanent

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    Special Fixed Rate Home Loan Premium Plus Package

    Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.

    • 1.89% p.a.
      fixed 2 years

    • 3.67% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 June 2021 and are funded by 31 August 2021, min $250k, LVR <80%

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

    Details Close

  • Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)

    Bank of Queensland
    Mozo Expert Choice Badge" style="width:60px;">

    1.89% p.a.
    fixed 2 years

    3.05% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate

    Owner Occupier, Principal & Interest, <80% LVR

    1.89% p.a.
    fixed 2 years

    3.05% p.a.

    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. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply). Fixed Rate Home Loan Winner in the Mozo Expert's Choice Award for 2021.

    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. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply). Fixed Rate Home Loan Winner in the Mozo Expert's Choice Award for 2021.

    • 1.89% p.a.
      fixed 2 years

    • 3.05% 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

    • $3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

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

    Details Close

  • Homestar

    1.79% p.a. variable

    1.84% p.a.

    $1234

    Product details Close details
    Star Gold Home Loan

    Owner Occupier, Principal & Interest, Refinance Only, <60% LVR

    1.79% p.a. variable

    1.84% p.a.

    An exceptional low rate for owner occupiers with 40% or 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% or 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.

    • 1.79% p.a. variable

    • 1.84% p.a.

    • $910

    • $0.00

    • $535.00

    • yes - free

    • yes - free

    • no

    • $910

    • 60.00%

    • $150,000

    • $500,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Limited time offer for applications received by 31 January 2021 and settled by 30 April 2021.

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

    Details Close

  • People's Choice Credit Union

    1.89% p.a.
    fixed 3 years

    3.03% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Package

    LVR <80%, Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 3 years

    3.03% p.a.

    A People’s Choice 3 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.

    Fixed Rate Home Loan Package

    A People’s Choice 3 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.

    • 1.89% p.a.
      fixed 3 years

    • 3.03% p.a.

    • $0

    • $395.00 yearly

    • $350.00

    • yes - free up to $10,000 p.a

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

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

    Details Close

^See information about the Mozo Experts Choice Home loans Awards