Mortgage shake-up! Meet the lenders taking on the big banks

With the RBA cutting rates for the second time in this year, and many of Australia’s home lenders following suit, now is a good time to compare your home loan to see where your loan rate stacks up against the market. 

The average Big Four home loan rate according to our database is 6.60% p.a., and the good news is that many rival lenders have rates well below this. But with so many different options available, it can be hard to know which lenders really stand out from the pack. 

That’s where Mozo’s money experts come in. We compare home loans for a living and know a good home loan deal from a dud. 

Unloan, a digital-only lender backed by CommBank continues to impress. It immediately passed on the full rate cut, has no fees and a unique loyalty discount. Aussie icon NRMA Insurance has recently picked up several home loan awards for delivering great value, while member-owned IMB has a cashback offer of up to $4,000 depending on the loan amount and LVR up to 80%. 

To learn more about these players and some of the other rival banks taking on the Big Four, read on for our expert rundown of top home loans currently on offer.

^ According to the Mozo Database as at 05/03/2025 based on an owner occupied variable rate home loan (P&I) of $400,000 over 25 years with a LVR <80%.