The record breaking lenders winning Aussie borrowers


04 Nov 2019


Australia's home loan market is in the midst of a massive shake up, with a tidal wave of new lenders taking on the big banks and breaking records left, right and centre as they fight it out to win borrowers over.

In recent months, non-bank lenders have broken new records on the rate front by introducing variable rates with a '2' in front. And it's not just rates where records are being broken. The latest industry data* shows that record numbers of Australians are taking out home loans with non-major lenders, as banks lose out to innovative new players intent on changing the game on everything from the speed of your loan approval to the time it takes you to pay off your mortgage.

So who are these lending dynamos who are breaking new records and winning over savvy borrowers? Read on for our low down of the game changing lenders who are shaking up the mortgage market right now....



Homestar Star Essentials Home Loan
  • 2.74% p.a. variable rate (2.77% p.a. comparison rate*)

  • Free extra repayments and redraw facility

  • No monthly or ongoing account fees

HomeStar is the only lender in the Mozo comparison database to pass on all five of the RBA's most recent rate cuts in full, breaking records as Australia's most generous lender. In addition to an ultra low variable rate, the Star Essentials Home Loan also offers $0 annual or ongoing monthly fees plus a range of flexible features like unrestricted extra repayments, free online redraw and the option to split your loan into variable and fixed rate portions. With all this value on offer, it's no wonder HomeStar is a regular Mozo Experts Choice Award winner.

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



Tic:Toc Variable Home Loan
  • 2.84% variable rate (2.85% comparison rate*)

  • Approvals in as little as 22 minutes

  • Mozo Experts Choice Online Lender of the Year 2019

Tic:Toc burst onto the Australian mortgage scene in 2017 with the world's first 'instant home loans', meaning you can have a fully approved home loan on the same day as you submit your application. What's more, Tic:Toc also offers award-winning low rates, zero application and ongoing fees, free extra repayments and an optional offset account for $10 a month. Switching your home loan can be done 100% online, and there's absolutely no paperwork (except for your home loan contract).

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


Promoted Smart Home Loan
  • 2.88% variable rate (2.90% comparison rate*)

  • $0 application, annual or monthly fees

  • Backed by Australia's largest non-bank lender

Online lender is still relatively unknown to many Australians, but this quiet achiever has been offering low cost home loans since 2011 and its parent company Firstmac is actually Australia's largest non-bank lender, with more than $10 billion in mortgages under management! The Smart Home Loan is a no-bells-and-whistles loan that could save you thousands, with a super-low rate, $0 application or ongoing fees, unlimited additional repayments and free redraws.

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



Athena Variable Home Loan
  • The new mortgage lender that's trying to get RID of customers

  • 2.84% variable rate (2.80% comparison rate*)

  • Zero Athena fees

Introducing itself as the 'home loan wrecker', Athena is a game changing new online lender that wants customers to love them and leave them. Athena's mission is to encourage borrowers to pay off their home loan quickly, so that you can have a home not a loan. To help you do just that, the new Athena Variable Home Loan offers a super competitive rate, zero Athena fees, a loyalty bonus and flexible features like free extra repayments.

Where do I get it? Head over to Athena to find out 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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.

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

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