Have you heard the news? In the last few years Australian mortgage lenders have sharpened their home loan interest rates to some of the lowest levels they’ve ever been!
It’s hardly a surprise then that plenty of Australians are making the most of this low rate environment to refinance. In fact, recent figures from the Australian Bureau of Statistics reveal that $24 billion worth of home loans were refinanced in May alone.
But did you know that some lenders have even lower rates on offer for borrowers with lower loan-to-value ratios (LVRs) - ie. greater levels of home equity?
So if you’re looking to see if you can refinance to a lower rate, you might be interested in the competitive fixed and variable rate loan deals for lower LVRs that we’ve wrapped up below.
HOT REFINANCING DEALS
<60% LVR home loans
Mozo may receive payment if you click to the website of one of the products below. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Comparison rate warning
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.
How Initial Monthly Repayments figures are estimated
Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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.
Athena - Celebrate Variable Home Loan
Variable rates from 1.99% p.a. (1.99% p.a. comparison rate*)
Online lender Athena has thrown down one of the sharpest rates in the Mozo database for owner occupiers with a <60% LVR: a super low variable rate of just 1.99% p.a. (1.99% p.a. comparison rate*) with its Celebrate Variable Home Loan. Aside from the compelling rate, there are no loan fees, plus the loan comes with handy features like a free redraw facility and extra repayments option. Just bear in mind that it's only available for properties in capital cities and major population centres.
86 400 - Own Home Loan (Fixed)
1-year fixed rate of 1.84% p.a. (2.63% p.a. comparison rate*)
Looking to refinance to a fixed rate? Digital bank 86 400 has competitive fixed rates on offer to owner occupiers with an LVR below 60%, the lowest currently being 1.84% p.a. (2.63% p.a. comparison rate*) for a 1-year term. The Own Home Loan (Fixed) also lets borrowers make extra repayments (free up to $20k per fixed rate term) and redraws, though it's worth noting a $250 annual loan service fee applies. There’s even a cashback offer! Eligible refinancers can score $2,000 cashback by refinancing a loan of $250,000+ when they apply by 30 September and settle by 31 November, 2021.
<70% LVR home loans
Mozo may receive payment if you click to the website of one of the products below. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Comparison rate warning
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.
How Initial Monthly Repayments figures are estimated
Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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.
Macquarie - Basic Home Loan (Fixed)
3-year fixed rate of 2.09% p.a. (2.32% p.a. comparison rate*)
No upfront or ongoing fees
Earn 10k Qantas Points per 100k borrowed (interest loading applies)
Macquarie has put together a tempting offer for borrowers looking to lock in their rate with its Basic Home Loan (Fixed). Owner occupiers with an LVR below 70% can access rates as low as 2.09% p.a. (2.32% p.a. comparison rate*) for a 3-year fixed term, plus they can take advantage of additional features like extra repayments and a redraw facility. There are also no upfront or ongoing fees with the loan, though there is a $400 discharge fee. Plus, for an extra interest rate loading of 0.05% p.a., borrowers can earn 10k Qantas Points for every $100k they borrow and 25k Qantas Points on the third and fifth loan anniversary (terms and conditions apply).
Yard - Variable Home Loan Special
Variable rates from 1.99% p.a. (2.02% p.a. comparison rate*)
Variable rates don’t get much lower than the 1.99% p.a. (2.02% p.a. comparison rate*) rate on offer to owner occupiers with an LVR below 70% through online lender Yard’s Variable Home Loan Special. While there are one-off legal, valuation and settlement fees to consider, there’s no ongoing service fee, plus there are a range of useful features including extra repayments, an online redraw facility and even an optional offset account (for $10 per month). But if you want to grab this special offer you’d better get in quick because applications must be submitted by 31 October, 2021.
<75% LVR home loans
Mozo may receive payment if you click to the website of one of the products below. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Comparison rate warning
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.
How Initial Monthly Repayments figures are estimated
Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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.
Nano - Variable Home Loan
Variable rates from 1.99% p.a. (1.99% p.a. comparison rate*)
One of the newest players around, digital lender Nano has burst onto the scene with a super low variable rate just for refinancers. Rates on the Variable Home Loan start at just 1.99% p.a. (2.99% p.a. comparison rate*) for owner occupiers with an LVR below 75% and there are no fees to worry about. Borrowers also have a few flexible features available to them, including an offset sub-account and the ability to make extra payments towards the loan. Nano also prides itself on the speed of its online approval process, which it says can be completed (paper-free) in a matter of minutes.
Want to see how these great offers stack up against other refinancing deals? Then you’ll want to head on over to the Mozo refinance home loans hub where you’ll be able to compare an even greater selection of loans on interest rates, fees, features and more.
*
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. You can change the loan amount and term in the input boxes at the top of this table. 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.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
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Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
Important information on terms, conditions and sub-limits
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
