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 - page last updated October 25, 2020
Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
Sorted by:
Mozo Order
- loans.com.au
2.48% p.a. variable
2.50% p.a.
loans.com.auSmart Home Loan 80
Owner Occupier, Principal & Interest
2.48% p.a. variable
2.50% p.a.
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.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
Go to siteCompare - HSBC
2.09% p.a.
fixed 2 years2.98% p.a.
HSBCFixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR <80%
2.09% p.a.
fixed 2 years2.98% p.a.
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^
Go to siteCompare - Athena
2.34% p.a. variable
2.34% p.a.
AthenaCelebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.34% p.a. variable
2.34% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Go to siteCompare - Macquarie
2.54% p.a. variable
2.81% p.a.
MacquarieOffset Home Loan
Owner Occupier, LVR<70%, Principal & Interest
2.54% p.a. variable
2.81% p.a.
Handy offset account to help pay your home loan off sooner. Up to 10 offset accounts per loan account available. Fee free access at ATMs. Waived credit card annual fee. $0 international purchase fees.
Go to siteCompare - UBank
2.49% p.a. variable
2.49% p.a.
UBankUHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.49% p.a. variable
2.49% p.a.
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.
Go to siteCompare Hot DealUp to $1,500 cash back on refinances (T&Cs apply)
Homestar2.29% p.a. variable
2.32% p.a.
CompareDetailsHomestarStar Essentials Home Loan
Owner Occupier, Principal & Interest
2.29% p.a. variable
2.32% p.a.
Low Cost Home Loan 2020 winner.^ A home loan packed with all the essentials and offering up to $1500 cashback and no ongoing fees. No Construction loans.
CompareHot Deal$2,000 Refinance Cash Bonus (T&Cs apply)
Suncorp2.68% p.a. variable
2.69% p.a.
SuncorpBack to Basics Special
LVR<80%, Owner Occupier, Principal & Interest
2.68% p.a. variable
2.69% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
Go to siteCompareHot Deal$3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
Bank of Queensland2.59% p.a. variable
2.76% p.a.
CompareDetailsBank of QueenslandEconomy Home Loan Discount Rate
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a. variable
2.76% 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%.
Compare- IMB Bank
2.61% p.a. variable
2.67% p.a.
IMB BankBudget Home Loan
LVR <80%, Owner Occupier, Principal & Interest
2.61% p.a. variable
2.67% 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.
Go to siteCompare - AMP Bank
2.59% p.a. variable
3.00% p.a.
AMP BankProfessional Package Variable Rate Home Loan
Owner Occupier, Principal & Interest, LVR <80%
2.59% p.a. variable
3.00% p.a.
Enjoy a variable rate with the AMP Bank Professional Package Home Loan. 100% offset accounts available with full transaction access. Handy redraw facility available upon request. Minimum 20% deposit required. Other rates available for interest only option. Pre-qualify today.
Go to siteCompare - Newcastle Permanent
2.18% p.a.
fixed 2 years3.72% p.a.
Newcastle PermanentSpecial Fixed Rate Home Loan
Owner Occupier, Principal & Interest
2.18% p.a.
fixed 2 years3.72% p.a.
No ongoing fees. Ability to split your loan between fixed and variable. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer, T&Cs apply.
Go to siteCompare Hot DealSpecial rate applies to home loan applications submitted by 30th November 2020
Yard2.19% p.a. variable
2.22% p.a.
CompareDetailsYardVariable Home Loan Special
Owner Occupier, Principal & Interest, LVR <70%
2.19% p.a. variable
2.22% 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 30th November 2020.
Compare- Qudos Bank
2.19% p.a.
fixed 3 years2.79% p.a.
Qudos BankFixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%
2.19% p.a.
fixed 3 years2.79% p.a.
Competitive fixed rates ranging from 2.29% (2.82% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
Go to siteCompare - Illawarra Credit Union
1.99% p.a.variable for 24 months and then 2.50% p.a. variable
2.93% p.a.
Illawarra Credit UnionThe Works Special Variable Home Loan
Owner Occupier, Principal & Interest
1.99% p.a.variable for 24 months and then 2.50% p.a. variable
2.93% p.a.
The Works Package 2 year intro special variable rate Home Loan, for new owner occupied P&I home loans $150k and over. It comes with a 100% offset account to make your home loan repayments
Go to siteCompare - Suncorp
2.29% p.a.
fixed 2 years3.28% p.a.
SuncorpFixed Home Loan Special Offer
Owner Occupier, Principal & Interest
2.29% p.a.
fixed 2 years3.28% p.a.
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.
Go to siteCompare - Homestar
1.98% p.a.
fixed 1 year2.41% p.a.
CompareDetailsHomestarStar Classic Fixed Home Loan
Principal & Interest
1.98% p.a.
fixed 1 year2.41% p.a.
Enjoy a new and unbelievably low introductory rate home loan for one year. Unlimited free online redraws and additional repayments up to $20K to help you pay off your home sooner. Multiple loan splits possible and flexible replacements. (Rates revert after introductory period ends).
Compare - Athena
2.44% p.a. variable
2.38% p.a.
AthenaLiberate Variable Home Loan
70-80% LVR, Owner Occupier, Principal & Interest
2.44% p.a. variable
2.38% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Go to siteCompare - UBank
2.14% p.a.
fixed 3 years2.41% p.a.
UBankUHomeLoan
Owner Occupier, Principal & Interest
2.14% p.a.
fixed 3 years2.41% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
Go to siteCompare - IMB Bank
2.39% p.a.
fixed 3 years3.08% p.a.
IMB BankFixed Home Loan
Owner Occupier, Principal & Interest
2.39% p.a.
fixed 3 years3.08% p.a.
The IMB Fixed Rate Home Loan gives you peace of mind with the security of fixed loan repayments. You can also pay up to 12 months repayments in advance without penalty.
Go to siteCompare - loans.com.au
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
loans.com.auSmart Booster 1 Year Discount Variable Home Loan
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.
Go to siteCompare - HSBC
2.59% p.a. variable
2.60% p.a.
HSBCHome Value Loan
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.60% p.a.
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
Go to siteCompare - Newcastle Permanent
2.59% p.a. variable
2.63% p.a.
Newcastle PermanentSpecial Real Deal Home Loan
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.63% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer, T&Cs apply.
Go to siteCompare Hot Deal$3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
Bank of Queensland2.25% p.a.
fixed 3 years3.41% p.a.
CompareDetailsBank of QueenslandDiscount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
2.25% p.a.
fixed 3 years3.41% 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 70% LVR, T&Cs apply).
Compare
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.
^See information about the Mozo Experts Choice Home Loans Awards
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