Loans.com.au stands out from the pack with best new feature in Mozo Experts Choice Awards 2019

Mozo

25 Mar 2019

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The Mozo office is buzzing amidst the announcements of the 2019 Mozo Experts Choice Award winners, with one particular online lender taking out one of the major gongs with a loan feature being touted as a “credit card killer.”

Loans.com.au took home the Mozo Experts Choice Award for Best New Feature with its ZIP Debit Card, an interest-free $5,000 credit facility, which borrowers access with a visa debit card.

With the growing cost of living causing Aussies everywhere to tighten their belts, Peter Marshall, Mozo’s Data Manager and Mozo Experts Choice Award judge called this feature, “a novel solution for a growing problem.”

“The ZIP Debit Card is especially handy for home buyers looking to do things like furnish a new house or cover unexpected moving expenses without having to borrow more and as a result, have additional interest costs. It’s a great budgeting tool that adds real value to the ZIP Home Loan,” he said.

Aside from being innovative, our experts also highlighted the ZIP Debit Card as being cost-friendly, with a 0% p.a. interest rate, no fees and $100 monthly repayments to keep you on track.

Read all about the loans.com.au ZIP Home Loan below, or in our full Mozo review.

But that’s not the only Mozo Experts Choice Award loans.com.au won. Its Essentials Variable Home Loan also took home a win in the Low Cost Home Loan category. Its low variable rates and flexible repayment features, like free extra repayments and a redraw facility, were just some of the stand out features contributing to its win.

“The rate offered by loans.com.au are always up amongst the best in the market and it’s great to see that after all these years they are still continuing to not only push the boundaries and innovate, but also back that up with genuinely good value products,” Marshall said.

Here are some of the finer details of the award-winning products:

Promoted

loans.com.au ZIP Home Loan
  • $5,000 interest free credit facility

  • No application ongoing service fees

  • 3.68% p.a. variable home loan interest rate (3.70% comparison rate*)

The loans.com.au ZIP Home Loan boasts a unique interest-free $5,000 credit facility, which borrowers access with a visa debit card. This loan comes with a 3.68% (3.70% comparison rate*) variable interest rate and no application or ongoing service fees. It also features flexible repayment features to help you save, including free extra repayments and redraw facility.

Promoted

loans.com.au Essentials Variable 90
  • Rates from 3.64% p.a. (3.66% p.a. comparison rate*)

  • No application fee

  • Free extra repayments and redraw facility

With one of the lowest variable rates in the market for owner occupiers at 3.64% (3.66% comparison rate*) and no ongoing fees the Essentials Variable Home Loan comes with the option to make extra repayments at no extra cost so you can pay your loan off quicker, plus a free redraw facility.

*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.

This is just an insight into the winners, so if you’re looking for a home loan, check out our full list of home loan winners or head over to our home loan comparison table for even more options.

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