Loans.com.au unveils its new 1.99% variable rate home loan

Ceyda Erem

22 Jul 2020

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Hold onto your hats folks, as online lender loans.com.au have got a brand new home loan rate you have to see to believe. 

Today the lender has unveiled a rock-bottom variable home loan rate of 1.99% (2.55% comparison rate*) for both owner-occupiers and refinancers who have a deposit of 20% or more. 

This makes loans.com.au one of the three lenders in the Mozo database to offer a home loan that starts with a ‘1’. 

Called the Smart Booster Home Loan, the discounted 1.99% variable rate will apply for one year before the rate then jumps to a still competitive 2.57%.  

A two year variable rate option is also available, which features an introductory rate of 2.09% (2.71%) and a rollover rate of 2.79%. 

According to loans.com.au, this is the lowest variable rate they have ever offered. 

“This is a great opportunity for Australians to boost their equity and own their own home sooner,” said loans.com.au managing director, Marie Mortimer.

“Borrowers who are considering switching to a lower rate should take the opportunity to reassess their loan provider and potentially refinance.”

For added flexibility, borrowers also have the option to split their loan by combining the 1.99% variable rate with the 2.29% two year fixed rate. 

Mortimer says this new rate could be of great benefit to refinancers in particular, as the potential savings are clear. 

“Many of our customers tell us that they delayed refinancing because they thought it would be a big hassle but it turned out to be much simpler than they expected and well worth the time invested,” she said.

Or if you’d like to compare other variable rate home loan offers in the market, head on over to home loan comparison tool

Compare variable rate home loans

Rates updated daily. Advertiser disclosure.

  • loans.com.au

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

    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.

    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.

    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.

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

    • 2.47% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • Optional - with 0.10% additional interest

    • 80.00%

    • $520

    • $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
    Mozo Expert Choice Badge

    2.34% p.a.

    2.34% p.a.

    $1234

    Product details Close details
    UHomeLoan - Discount Offer

    Owner Occupier, Principal & Interest

    2.34% p.a.

    2.34% 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.

    UHomeLoan - Discount Offer

    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.

    • 2.34% p.a.

    • 2.34% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $0

    • $100,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the UHomeLoan - Discount Offer

    Details Close

  • Athena
    Mozo Expert Choice Badge

    2.19% p.a.

    2.19% p.a.

    $1234

    Product details Close details
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    2.19% p.a.

    2.19% 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.^

    Celebrate Variable Home Loan

    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.^

    • 2.19% p.a.

    • 2.19% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • no

    • 60.00%

    • $0

    • $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

  • Macquarie

    2.64% p.a.

    2.64% p.a.

    $1234

    Product details Close details
    Basic Home Loan

    Owner Occupier, LVR<80%, Principal & Interest

    2.64% p.a.

    2.64% p.a.

    Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.

    Basic Home Loan

    Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.

    • 2.64% p.a.

    • 2.64% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • 80.00%

    • $0

    • $150,000

    • $749,999

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Monthly

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

    Details Close

  • Suncorp

    2.54% p.a.

    2.55% p.a.

    $1234

    Product details Close details
    Back to Basics Special

    LVR<80%, Owner Occupier, Principal & Interest

    2.54% p.a.

    2.55% p.a.

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

    Back to Basics Special

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

    • 2.54% p.a.

    • 2.55% p.a.

    • $0

    • $0.00

    • $350.00

    • Yes - free

    • yes - free

    • no

    • 80.00%

    • $0

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Back to Basics Special

    Details Close

^See information about the Mozo Experts Choice Home loans Awards