Australia's Best Online Lenders of 2021

More Australians are turning to online mortgage lenders when taking out a home loan, and it’s proving to be a pretty savvy financial decision for many. Speedy online applications, super-efficient approval processes, and best of all, low interest rates — these are just some of the advantages that online mortgage lenders have over the major banks.

But with the playing field as packed as it is, it can be difficult to know where to start. That’s where the Mozo Experts Choice Awards^ come in. Each year, our team of data wizards pore over hundreds of mortgages to determine which ones offer the best value and the most useful features.

Among this year’s winners, online lenders feature strongly, which is little wonder considering that on a typical $400,000 home loan, online lenders offer an average saving of $83,800 vs the big banks over 30 years.

So whether you’re taking your first steps up the property ladder or looking to refinance to a better home loan, online mortgage lenders are well worth a look. Here are some of the stand-out online home loan winners from the 2021 Mozo Experts Choice Awards to help you in your search…

Compare Australia's Best Online Home Loans - Smart Booster Home Loan
  • 1.85% discounted variable rate for 2 years
  • Rolls over to low ongoing 2.25% (2.21% comparison rate*)
  • Offset account option available
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Expert verdict:

If you’re looking to dip your toes into the online lending pool then allow us to introduce you to the Smart Booster Home Loan from Designed to help you boost your savings and get mortgage-free faster, this low rate, low fee home loan is jam-packed with flexible features like unlimited free extra repayments, free redraw and an optional offset account for 0.10%. And as if that’s not enough, it received not one, but two 2021 Mozo Experts Choice Awards^ in the Low Cost Home Loan and Offset Home Loan categories.

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

UBank - UHomeLoan - Discount Offer
  • New 2.19% p.a. variable and comparison rate*
  • No upfront or ongoing fees
  • Free extra repayments and redraw
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Expert verdict:

With a new super-low variable rate and zero upfront or ongoing fees, the popular UBank UHomeLoan scored two Mozo Experts Choice Awards^ for Best Low Cost Home Loan and Best Split Home Loan. Homebuyers and refinancers will also appreciate the features on offer, such as the ability to make free extra repayments and access a redraw facility. Plus, UBank is backed by NAB so you get all of the savings an online lender can offer, as well as the security of big bank backing. 20% deposit required.

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

Tic:Toc - Fixed Home Loan
  • 1.89% fixed rate for 2 years (1.90% comparison rate*)
  • Free extra repayments up to $20,000 a year during fixed term
  • No upfront or ongoing fees
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Expert verdict:

Tic:Toc took out the Mozo’s Experts Choice Award for Online Home Lender of the Year 2021,^ and with offerings like this it's not hard to see why. The Tic:Toc fixed home loan boasts one of the lowest 2 year fixed rates on the market, plus the ability to make free extra repayments up to $20,000 each year and enjoy free redraw. There are no upfront or ongoing fees and you can add an optional offset account for $10/month. Available to borrowers with minimum 10% deposit.

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

Athena - Celebrate Variable Home Loan
  • New 1.99% variable rate (1.99% comparison rate*)
  • Zero Athena fees + free extra repayments and redraw
  • Available to borrowers with 40% deposit or equity
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Expert verdict:

Since it first burst onto the scene in 2019, Athena Home Loans has scored plenty of goodwill with Aussies thanks to its low interest rates and commitment to offering the same great rates to both new and existing borrowers. And to reward borrowers for paying down their mortgage, Athena will automatically lower your rate as you pay off your loan. No wonder the Mozo Experts awarded it with the Home Loan Innovation Award for 2021.^ Available to refinancers and new borrowers purchasing in capital or major regional cities.

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

Well Home Loans - Well Balanced
  • Low 1.99% p.a. variable interest rate (2.02% p.a. comparison rate*)
  • Free extra repayments & redraw, plus optional offset account
  • No ongoing fees
Find out more
Expert verdict:

Well Home Loans took out a whopping 5 awards in the 2021 Mozo Experts Choice Home Loan Awards^, making this emerging online lender one of the year's biggest winners. The Well Balanced home loan offers a super low variable rate for borrowers with a 20% deposit, plus a range of useful features, such as the ability to make free extra repayments, a redraw facility and no ongoing fees. In addition, you’ll be also able to tailor your mortgage to suit your needs thanks to the split loan option and optional offset account for $10 a month.

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

Calculate your home loan repayments

We can show you the monthly repayment amount for a range of loans

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Want to see how the above selection stack up against other mortgage offers on the market? Be sure to visit our home loan comparison page, where you’ll be able to filter your search by rate and type.

Find out more about the Mozo Experts Choice Home Loan Awards, including the full list of winners and how they were determined.

* 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.