The five home loan rate cuts you need to know about
03 Jun 2019

If you haven’t heard the latest news, Greater Bank have made the move to cut fixed rates this morning, with their one year fixed rate hitting a jaw dropping 2.99% (4.42% comparison rate*) - making it the lowest one year fixed rate on the market, according to CEO, Scott Morgan.
“Fixing your home loan can give peace of mind knowing your repayments won’t ever change for a set period of time” said Mozo Director, Kirsty Lamont.
“And with Greater Bank’s new fixed rates set to shake up the mortgage market, I wouldn't be surprised if we saw other lenders cutting rates to below the 3% mark.”
But what’s a hot new rate with nothing to compare it to? Over the last few months, UBank, NAB, loans.com.au and more recently, Bank Of Queensland and Virgin Money have also cut rates across some of their fixed rate products.
So if you’re interested to check out how Greater Bank’s new fixed rates stack up, check out some great fixed rate deals below.
Tic:Toc Variable Home Loan

Low 3.47% interest rate (3.48% comparison rate*)
2019 Mozo Experts Choice Online Home Lender of the Year
$1000 cashback offer
First up is online lender Tic:Toc and its Variable Home Loan. Aside from being the 2019 Mozo Experts Choice Online Home Lender of the Year, Tic:Toc have also cut rates by 10 basis points, bringing its variable rate to a low 3.47% (3.48% comparison rate*). With this loan, you’ll pay no application or services fees and no valuation or settlement fees, though there is a $325 discharge fee. And aside from the free extra repayments and redraw features, new borrowers will receive $1,000 cashback upon settlement, regardless of the loan size or type.
loans.com.au Special Offer Fixed Rate Home Loan

3.48% fixed three year rate (3.85% comparison rate*)
No application fee
Free extra repayments (up to $10,000 p.a.)
Also cutting 30 basis points to their fixed rate home loan was loans.com.au. The loans.com.au Fixed Home Loan keeps things simple, starting with a low 3.48% fixed three year rate (3.85% comparison rate*). There’s free extra repayments (up to $10,000 p.a.) and no application or ongoing fees, though there is a $220 valuation and $300 settlement fee to budget for. You’ll also be able to choose your repayment schedule and once your fixed rate term has ended, you’ll be rolled over to loans.com.au’s offset variable rate.
UBank UHomeLoan

Double 2019 Mozo Experts Choice Award winner
3.59% fixed three year rate (3.97% comparison rate*)
No discharge fee
You know you’re onto a winner when a home loan has won two Mozo Experts Choice Awards and cut fixed rates by 15 basis points. Meet the UBank UHomeLoan with the brand new three year fixed rate of 3.59% (3.97% comparison rate*). While this no frills loan doesn’t come with any repayment features, other than the $395 upfront fee, you won’t pay any other fees over the life of the loan.
Bank Australia Basic Home Loan

2019 Mozo Expert Choice Award winner
3.74% fixed three year rate (3.95% comparison rate*)
Borrow with a 5% deposit
If you’re a first home buyer, you need to check out the Bank Australia Basic Home Loan! Not only has Bank Australia just cut its fixed rate by 29 basis points, but you’ll be able to borrow up to 95% of the property’s value! With this loan, there are no application or service fees and you’ll be able to make your repayments either weekly, fortnightly or monthly. And if you ever need a break from your home loan, you can take advantage of the repayment holidays feature.
Bank of Queensland Fixed Rate

Low 3.39% fixed three year rate (4.41% comparison rate*)
Borrow with a 5% deposit
Free extra repayments (up to $5,000 p.a.)
Last but certainly not least is the Bank of Queensland Fixed Rate home loan, the final provider on our list to cut fixed rates by 30 basis points. With a low 3.39% fixed rate (4.41% comparison rate*), the Bank of Queensland Fixed Rate home loan could be a great pick for first time buyers, as you only need a 5% deposit to apply! You’ll be able to slash your interest bill, thanks to the free extra repayments feature and save on legal and valuation fees. And with the option to split your loan and choose your repayment frequency, the Bank of Queensland Fixed Rate home loan is full of flexibility.
^See information about the Mozo Experts Choice Home loans Awards
If you’d like to check out more fixed rate options, head on over to our home loan comparison tool.