New lender OneTwo rewards customers with ongoing discounts on home loans

By Maria Gil · · 2 min read
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OneTwo is one of the newest lenders in the country and is on a mission to reward borrowers for their loyalty. The lender has launched its own automatic rate-reducing home loan, where you receive discounts the more you pay off your mortgage.

It’s an approach that helps OneTwo stand out from the crowd.

“We are hell-bent on doing something different in the market,” said OneTwo’s chief marketing officer, Liz McCarthy.

While a loyalty discount is one aspect of OneTwo’s offering, it also has a focus on customers. The company says it wants to make the process of applying for a home loan as easy as ‘one-two’ by starting a conversation rather than an application. To help with this, customers use interactive video where they can get help from the OneTwo customer service team face to face.

While OneTwo is not the first Australian lender to try to make home loans easier, it is one of the few lenders rewarding their customers for paying off their loans.

Related: homeloans.com.au rewarding customers with home loan rate drops

Let’s have a look at its Rate Reducing loan in more detail.

How does OneTwo compare to other home loans?

For starters, the OneTwo Rate Reducing Variable Rate Home Loan has variable rates starting from 1.99% p.a. (1.89% p.a. comparison rate*), putting it 113 basis points below the 3.12% variable rate average in Mozo’s database. It is also among the lowest variable home loans available in our database. 

If you pay off 25% of your original loan amount then you could end up with a 0.15% discount on your interest rate. Putting it 128 basis points below the variable rate average in Mozo’s database.

Currently, OneTwo home loans are only open to owner occupier refinancers, but it says that it has plans to offer more home loan products very soon.

To find out more about OneTwo’s refinancing offer, including all the features and rates involved, read our Rate Reducing Variable Rate Home Loan review.

Otherwise see how OneTwo stacks up against some other great offers for refinancing in the table below, or check out Mozo’s refinance home loan comparison hub.

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can compare more home loans here.
Last updated 11 September 2024 Important disclosures and comparison rate warning*

Refinance home loan comparisons on Mozo

Promoted

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.01 % p.a.
    Variable
    Comparison rate
    6.14 % p.a.
    Initial monthly repayment
    $3,001
    Go to site

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

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Need help with refinancing?

You might have questions that need personal answers. We’ve teamed up with the mortgage brokers at Lendi to get you the answers you need, and a home loan deal you deserve.

Learn 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.

^See information about the Mozo Experts Choice Home Loan Awards

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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