Meet the lenders winning Aussie borrowers with super low rates

Interest in rival mortgage lenders is surging after the Reserve Bank's second rate hike of 2022, as Aussie borrowers look to offset the pain of rising rates by securing better value home loans.

Borrowers hunting for better deals are spoilt for choice right now, with dozens of lenders still offering extremely low variable rates far below the market average, but which rival lenders really stand out from the pack?

Macquarie is proving a popular alternative to the big 4 banks with competitive variable rates, flexible lending terms and fast approval processes. And the big 4 themselves are getting in on the act: CommBank's brand new digital home loan offering Unloan boasts stellar variable rates and zero fees for refinancers.

On the online lender front, Aussie-owned and Athena are winning over fed-up bank borrowers with super low rates and hassle-free online applications.

With the average variable home loan rate forecast to continue rising over the next 12 months, savvy borrowers could access huge savings simply by shopping around. Start by comparing some of the top home loans on offer from rival lenders below….


Athena - Celebrate Variable Home Loan
  • New 3.29% variable and comparison rate*
  • Zero Athena fees + free offset account, extra repayments and redraw
  • Available to borrowers with 40% deposit or equity

Athena is an online lender on a mission to save borrowers money on their mortgage, with a customer first commitment and some of the lowest rates around. The fee-free Athena Celebrate Variable Home Loan offers the same great rates to both new and existing borrowers, and as an added reward your rate will drop lower as you pay down your home loan. It's available to refinancers and new borrowers purchasing in capital or major regional cities. 40% deposit required.

Where do I get it? Head over to Athena to find out more >>

Macquarie - Offset Home Loan
  • Variable rates now from 2.89% (3.16% comparison rate*) - minimum 40% deposit
  • 100% offset account, redraw facility and extra repayments
  • No upfront fees ($248 annual package fee applies)

Macquarie is now Australia’s 5th largest home lender, and with offerings like this it’s not hard to see why. The Macquarie Offset Home Loan offers competitive variable rates along with a range of flexible features such as 100% offset (up to 10 free offset accounts per loan account), free extra repayments and online redraw and a split account option. To start the simple application process, simply request a call on the Macquarie website. Available for loans of up to $5 million.

Where do I get it? Head over to Macquarie to find out more >>

Unloan - Variable Home Loan
  • 2.14% variable rate (2.06% comparison rate*)
  • Zero upfront or ongoing fees
  • Refinancers only

Unloan is a stellar new digital home loan built by CommBank, offering owner-occupiers a super low 2.14% variable rate (2.06% comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for refinance loans of up to $3M. Minimum 80% LVR.

Where do I get it? Head over to Unloan to find out more >> - Smart Booster Home Loan
  • New 3.10% discount variable rate for 2 years (3.46% comparison rate*)
  • Free redraws and extra repayments
  • Optional offset account

This low rate, low fee home loan could help you save thousands on your mortgage and is packed with useful features like unlimited free extra repayments and redraw, multiple loan split options and an optional offset account for 0.10%. With all this on offer the Smart Booster Home Loan really is a smart choice for borrowers who are looking to save money on interest and get mortgage free faster. You can borrow up to $1 million with this loan with a 20% deposit, and pay no ongoing monthly fees.

Where do I get it? Head over to to find out more >>

Yard - Variable Home Loan
  • 2.84% variable rate (2.88% comparison rate*)
  • Free extra repayments and redraw + optional offset account
  • Available to borrowers with 40% deposit or equity

This value-packed home loan from online lender Yard boasts one of the lowest variable rates on the market for borrowers with 40% deposit and has no ongoing fees. Borrowers can add on an optional offset account for $10 a month to help save on interest, and pay off the mortgage faster with free additional repayments. Available to borrowers with minimum 60% LVR, for loans of up to $1 million.

Where do I get it? Head over to Yard to find out more >>

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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.

* 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.

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