Top lenders target refinancers with super low rates

Interest rates are rocketing upwards right now, but if you're looking to refinance and have built up some decent equity in your property, it's still possible to secure a super low home loan rate and cut your repayments back down to size.

Commonwealth Bank is targeting refinancers with a stellar new low rate digital home loan offering called Unloan, which offers owner occupier variable rates at just 3.14% (3.06% comparison rate*) plus a rate discount that increases each year.

Top online lender is also wooing savvy refinancers with cut-price variable rates for borrowers with low LVRs, while Macquarie is offering variable and comparison rates* from just 3.19% for borrowers with 60% LVR.

For borrowers who have built up good equity in their property, these offers could be your opportunity to save thousands and take years off your mortgage by refinancing.

So, if you’ve been holding out for the right refinance loan, then today could be your lucky day! Now, let’s take a closer look at what these new loans have on offer to see how they stack up...



Unloan - Variable Home Loan
  • 3.14% variable rate (3.06% comparison rate*)
  • Zero upfront or ongoing fees
  • Refinancers only

The details:
Unloan is a stellar new digital home loan built by CommBank, offering owner-occupiers a super low 3.14% variable rate (3.06% comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for refinance loans of up to $3M. Minimum 80% LVR. - Variable Home Loan 70
  • 3.10% variable rate (3.12% comparison rate*)
  • Free extra repayments and redraw + optional offset account
  • Available to borrowers with 70% LVR

The details:
This low rate, low fee home loan could help you save thousands on your mortgage and is packed with useful features like unlimited free extra repayments and redraw, multiple loan split options and an optional offset account for 0.10%. You can borrow up to $2 million with 30% deposit or equity, and pay no monthly or ongoing fees. What's more,'s streamlined online process lets you find out if you pre-qualify in less than a minute and complete your application online.

Macquarie - Basic Home Loan
  • 3.19% variable and comparison rate* - minimum 40% deposit
  • Zero application or ongoing fees
  • Free redraw and extra repayments

The details:
Macquarie is now Australia’s 5th largest home lender, and with offerings like this it’s not hard to see why. This low rate home loan is light on fees but loaded with features, including fee-free redraw using online banking, flexible ways to repay and the flexibility to split your loan and set different repayment types. Plus, you can apply online in as little as 15 minutes.

Yard - PAYG Home Loan
  • 3.29% variable rate (3.33% comparison rate*)
  • Free extra repayments and redraw
  • Optional 100% offset account

The details:
This value-packed home loan from online lender Yard boasts one of the lowest variable rates on the market for borrowers with 20% deposit and has no ongoing fees. Borrowers can add on an optional offset account for $10 a month to help save on interest, and pay off the mortgage faster with free additional repayments. Available to borrowers with minimum 80% LVR, for loans of up to $3 million.

UBank - Neat Home Loan
  • Variable rates from 3.64% (3.66% comparison rate*) - min 40% deposit
  • Free extra repayments and redraw facility
  • Fast and paperless online application process

The details:
UBank ticks all the boxes with this low rate, low fee digital home loan for borrowers looking to keep their costs to a minimum. The Neat Home Loan rewards borrowers with lower loan-to-value-ratios (LVRs) with its most competitive rates, while also being light on fees. There's a $250 settlement fee but no application fees or ongoing fees. Features include free extra repayments and redraw, and repayments can be made weekly, fortnightly or monthly.

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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.

* 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.

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