Online home loan discount frenzy entices borrowers

Winter may not be peak season for home loans, but that hasn't stopped borrowers from jumping on the frenzy of discounted home loan specials available right now from both bank and non bank lenders.
Lenders are enticing borrowers with rate discounts, fee waivers, cash back and attractive fixed rate offers, and interest in these deals on Mozo is spiking as savvy borrowers seek to take advantage of these limited time specials.
So if you're in the market for a new home loan or have been thinking of refinancing to a cheaper deal, read on for the Mozo Editors picks of 5 of the best home loan specials available right now.
5 red hot winter home loan specials
loans.com.au Smart Loan Fixed 80

3.89% fixed rate for 2 years (3.78% comparison rate)
$0 application or service fee
Free extra repayments up to $10,000 p.a.
This new offer from loans.com.au comes with a super competitive fixed rate for the first two years, plus no application fee or yearly service fee to drain your budget. And here’s the kicker - if you’re after both an owner-occupier and an investment loan, bundle them together in this offer and you’ll get the same great low rate for both!
State Custodians Low Rate Home Loan with Offset

Super low 3.64% variable rate (3.67% comparison rate)
Free 100% offset account and online redraw
Borrow with just a 5% deposit
Not only does this home loan from popular online lender State Custodians currently offer a super low variable rate, it also comes jam packed with features including a free 100% offset account, online redraw, unlimited extra repayments and a split loan facility. There are no ongoing fees and you can choose to make weekly, fortnightly or monthly repayments.
Bank Australia Basic Home Loan Special

3.65% variable rate (special 3.66% comparison rate*)
No establishment fee until 31 September, plus no ongoing fees
Free extra repayments and redraw
The Bank Australia Basic Home Loan Special is a top value pick for borrowers after a competitive interest rate and some no-frills features. The establishment fee is being waived until 31 September, and there aren’t any ongoing fees to blow your budget. The features on offer include the chance to make free extra repayments, use a redraw facility and take a repayment holiday if you need to. You can also choose to make repayments monthly, fortnightly or weekly to fit your budget.
UBank UHomeLoan - Discount Offer

$1,000 cash on loans over $200k (Apply by 6 August)
3.59% variable rate (3.59% comparison rate*)
No upfront or ongoing fees
Super low rate? Check. No application or annual fees? Check. Handy features like free extra repayments and a redraw facility? Double check. The UBank UHomeloan Discount offer comes with all this great value included. You can also choose a split rate option and your repayment schedule. But there’s more - refinance or take out a new loan of at least $200,000 and you can score a $1,000 cash bonus.
NAB Base Variable Rate Home Loan Special Offer

3.69% variable rate special offer (3.73% comparison rate*)
No annual fee (application fee applies)
Borrow with a 5% deposit
If you prefer to stick with a big bank, then our pick is the NAB Base Variable Rate Home Loan Special Offer. With a competitive low rate and no ongoing fees to strain your budget, this is a great option for borrowers after a loan of up to $2 million. In terms of features, you’ll have the ability to make free extra repayments and use a redraw facility. This discounted offer is only available to new borrowers and for a limited time, so get in quick!
^See information about the Mozo Experts Choice Home loans Awards
Want more great value home loan options? Head over to our home loan comparison table to check them out.
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