The home loan your mortgage broker doesn’t want you to know about

By Gabriella Margerison · · 2 min read
Fact Checked
Advertiser disclosure

If you’ve ever sat down with a mortgage broker to discuss home loans, you might think you’re getting access to every great deal out there. But the truth is, not all lenders deal with mortgage brokers and that could leave you missing out on some seriously good deals and savings. 

One such lender is Unloan, the CommBank built and backed digital home loan provider. Its award-winning^ Unloan Variable home loan offers a competitive rate, and doesn’t charge fees (no application, banking, change or exit fees), so from day one you are already set up for saving.  And in an Australian first, it also rewards you for loyalty by automatically reducing your interest rate by 0.01% every year for up to 30 years.

Of course, this loan may not be for everyone. It isn’t available for construction loans and it doesn’t have an interest-only repayment option or an offset account (though it does come with a redraw), so if you do need those things you might prefer to talk to a broker.

One of the key reasons why people turn to brokers is also the lengthy application and paperwork that usually comes with home loan applications. But because Unloan was built from the ground up using the latest technology, it’s been able to streamline its application process down to just 10 minutes.  

And the 100% digital interface means that once you’ve got your loan, you can easily track or adjust it at your convenience, or chat directly with one of their online specialists, all without having to go through a middleman.  

So, if you’re on the hunt for a home loan, in addition to reviewing deals on offer from a broker,  check out the Unloan home loan below. You may be glad you found it.

Unloan’s award-winning home loan

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Important disclosures and comparison rate warning*
Unloan - Variable Home Loan
  • 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
  • Zero upfront or ongoing fees
  • Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.

For investors

Mozo may receive payment if you click to the website of one of the products below. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Unloan Variable Investment Home Loan
  • 6.29% p.a. variable rate (6.20% p.a. comparison rate*)
  • Zero upfront or ongoing fees

For investors, Unloan's low variable rate comes in at a competitive 6.29% p.a. (6.20% p.a. comparison rate*), with the same increasing loyalty discount rate up to thirty years. There are no application or other upfront fees, and no ongoing fees and investors get the same loan features as owner occupiers, including free extra repayments and redraws. Available for investment loans of up to $10M. Minimum 20% deposit.

* 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

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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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