Loans.com.au slashes home loan rates for owner-occupiers, investors

Online lender, loans.com.au has today slashed rates for both owner-occupiers and investors on certain home loans, and is now offering some of the lowest mortgage rates in the market.

One of the changes was to cut the Essentials Variable 80 rate for owner-occupiers looking to make principal and interest repayments by 12 basis points, bringing it to a red hot 3.52% (3.54% comparison rate) - the lowest rate for a loan of its kind in the Mozo database.

UPDATE 15/2/18: Reduce Home Loans today dropped their Rate Lovers Variable Home Loan rate to 3.49% (3.57% comparison rate), lowest in the Mozo database.

“Competition is heating up between lenders ahead of the Autumn property season, which means borrowers have the chance to nab a really excellent deal,” said Mozo Director Kirsty Lamont.

The rate on loans.com.au’s Offset Variable 80 for owner-occupiers making principal and interest repayments was also slashed by 12 basis points, bringing it down to a competitive 3.60% (3.62% comparison rate).

“The beauty of having an offset account attached to your home loan is that by parking your savings in there, you’re reducing the amount of interest you pay on your loan without lifting  finger,” said Lamont.

And investors weren’t left out either. Those looking to make principal and interest repayments saw rate rises of 10 basis points on both the Essentials Variable 80 and Offset Variable 80, to 4.19% (4.22% comparison rate) and 4.27% (4.29% comparison rate) respectively.

At the same time, investment loans with interest-only repayments saw big cuts of 20 basis points, bringing them equal to that of investment loans with principal and interest repayments.

RELATED: Best home loans of February 2018: Mozo Editors’ picks

More than a third of lenders in Mozo’s database have made a variable rate cut since the start of October, with 70 lenders now offering a variable rate below 4.00% for owner-occupiers making principal and interest repayments.

Lamont urged borrowers to be aware of what offers are available and spend some time comparing their options before signing onto a home loan.

“There are heaps of really competitive rates around at the moment as lenders try to tempt Aussie home buyers. So it only makes sense to take advantage of that and snag yourself the best possible deal,” said Lamont.

Home loan comparisons on Mozo - last updated 21 January 2022

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Smart Booster Home Loan
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    Initial monthly repayment
    1.85% p.a.variable for 24 months and then 2.25% p.a. variable
    2.21% p.a.

    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 Expert Choice Badge
    UHomeLoan - Discount Offer
    interest rate
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    Initial monthly repayment
    1.99% p.a. variable
    1.99% p.a.

    Enjoy a super low rate. $0 fees to consider. Fast and easy online application. Free redraw and free extra repayments. Flexible payment terms. Min 20% deposit required.

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  • Mozo Expert Choice Badge
    Celebrate Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.89% p.a. variable
    1.89% 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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  • Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    1.99% p.a.

    Same low variable rate for all. No upfront or ongoing fees. Approval in minutes not weeks with a fast digital application. 100% offset sub account with no account or redraw fees. Comes with a Visa debit card, mobile App, and digital wallet (Apple and Google Pay). Refinance only. 25% deposit or equity required.

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  • Mozo Expert Choice Badge
    Variable Home Loan Special
    interest rate
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    Initial monthly repayment
    1.99% p.a. variable
    2.02% p.a.

    Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 31st January 2022. Low Cost Home Loan winner in the Mozo's Experts Choice award 2021.

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  • Basic Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.14% p.a. variable
    2.14% p.a.

    Competitive low variable rate. No application or account management fees. Flexibility to split your loan and set different repayment types. Fee free withdrawals of your savings.

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  • Discounted Home Value Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.97% p.a. variable
    1.98% p.a.

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Plus, $3,288 cashback offer (conditions apply).

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  • Special Real Deal Home Loan
    interest rate
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    Initial monthly repayment
    2.22% p.a. variable
    2.26% p.a.

    No application or service fees. Flexibility to choose your repayment schedule ( weekly, fortnightly or monthly) . $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent.

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  • Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.89% p.a. variable
    1.90% p.a.

    No application fee, no monthly fees, no annual fees, no redraw fees. Minimum 10% deposit. Bank-backed. Offset account available. Fast online application process. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^

    Details
  • Economy Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.98% p.a. variable
    2.15% p.a.

    An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%. Refinance to BOQ by 31 January 2022 and get $3,000 cashback (T&Cs apply).

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  • Variable Rate Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    1.89% p.a.

    OneTwo’s Variable Rate Home Loan brings features a low variable rate for owner-occupier refinancers. It has low fees and rewards borrowers for repaying the loan by lowering their rate. (T&Cs apply). Available to refinancers in metro NSW and Victoria only.

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  • Own Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.34% p.a.
    fixed 2 years
    2.59% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    Details
  • Budget Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.19% p.a. variable
    2.25% p.a.

    Competitve low interest rate for owner-occupiers with at least a 20% deposit, and no upfront fees. Free extra repayments and redraw. Zero ongoing fees.

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  • Discount Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.19% p.a. variable
    2.24% p.a.

    No monthly administration fees. Ability to make extra repayments and redraws. A great low rate. No ongoing fees. Experience the difference this established bank has to offer.

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  • Equity Plus
    interest rate
    comparison rate
    Initial monthly repayment
    1.82% p.a. variable
    1.85% p.a.

    Low rate variable home loan with optional offset. Free online redraw. No valuation fee. Purchase, refinance or equity release purposes allowed. Min 40% deposit.

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  • Basic Variable
    interest rate
    comparison rate
    Initial monthly repayment
    2.19% p.a. variable
    2.24% p.a.

    Enjoy a great low variable rate with no monthly or annual fees with the Great Southern Bank’s Basic Variable Home Loan. It features $0 establishment fee and $0 security admin fee when you apply online. Unlimited fee-free repayments and free redraw. Bonus $3000 cashback offer for refinancers (conditions apply).

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  • Mozo Expert Choice Badge
    Smart Booster Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    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. loans.com.au has some of the fastest settlement times on the market. They can meet 30-day settlement timeline so you can start saving thousands, as soon as possible! Mozo award-winning online lender, friendly and local Australian based team.

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  • UHomeLoan
    interest rate
    comparison rate
    Initial monthly repayment
    1.79% p.a.
    fixed 1 year
    2.18% p.a.

    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.

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  • Mozo Expert Choice Badge
    Evaporate Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.94% p.a. variable
    1.91% p.a.

    Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^

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  • Basic Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.74% p.a.
    fixed 2 years
    2.32% 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.

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  • Special Fixed Rate Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.54% p.a.
    fixed 2 years
    3.78% 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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  • Mozo Expert Choice Badge
    Fixed Rate Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.89% p.a.
    fixed 1 year
    2.43% p.a.

    Competitive fixed rates across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year). Winner of Australia's Best Large Mutual Bank 2021.

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  • Mozo Expert Choice Badge
    Discount Fixed Rate
    interest rate
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    Initial monthly repayment
    2.59% p.a.
    fixed 2 years
    3.17% p.a.

    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 31 January 2022 and get $3,000 cashback (T&Cs apply).

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  • Mozo Expert Choice Badge
    Liberate Variable Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    1.93% p.a.

    Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. Athena automatically lowers the rate as the loan is paid down. Winner of three Mozo Expert's Choice Awards for 2021.

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  • Well Balanced Fixed
    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a.
    fixed 1 year
    1.90% p.a.

    Super low fixed rate and only 20% deposit required. Optional 100% offset account. Free extra repayments and redraw facility. Flexible repayment schedule.

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  • Back to Basics Special
    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    2.00% p.a.

    No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.

    Details
  • Offset Variable
    interest rate
    comparison rate
    Initial monthly repayment
    2.39% p.a. variable
    2.44% p.a.

    Save on interest with the Great Southern Bank’s Offset Variable Home Loan. Handy 100% offset account. $0 establishment fee and $0 security admin fee when you apply online. Unlimited fee-free repayments and free redraw. Bonus $3000 cashback offer for refinancers (conditions apply).

    Details
  • Mozo Expert Choice Badge
    No Frills Home Loan
    interest rate
    comparison rate
    Initial monthly repayment
    2.19% p.a. variable
    2.19% p.a.

    Qudos Bank No Frills Home Loan with $0 bank fees and unlimited repayments. Winner of the Split Home Loan award in 2020. ^

    Details

So if you’re looking to make a property purchase this year, head over to our home loan comparison table to check out some low rate options.

* 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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