Digital gamble pays off for CBA as Unloan wins best new home loan

If there’s one home loan lender more and more Aussies are hearing about, it’s the new digital lender Unloan, built by CommBank. 

And for good reason. Between seriously competitive rates, zero fees , handy features like its loyalty discount, and speedy 10 min online application process, Unloan has become a force to be reckoned with. 

The Mozo expert judges think so too, as they’ve awarded Unloan two Mozo Experts Choice Awards in 2023^ for Best New Home Loan and Low Cost Home Loan. 

“Now more than ever, borrowers are looking for ways to reduce their mortgage repayments,” said Mozo expert judge, Peter Marshall. “With the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan has set the bar for what a leading home loan looks like.”

Unloan’s award winning home loan

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. 

More loans our editors love

Macquarie Basic Variable Home Loan
  • Rates from 6.14% variable (6.16% comparison rate*)
  • Free extra repayments and redraw facility
  • No upfront or ongoing fees

With competitive variable interest rates starting at 6.14% p.a. (6.16% p.a. comparison rate*), Macquarie’s Basic Home Loan brings with it minimal fees and a range of features like free extra repayments and a free redraw facility. Together with a split account option so you can split your loan between variable and fixed, the Basic Home Loan from Macquarie is available to owner occupiers and investors alike. 20% deposit required. Variable Home Loan 90
  • 6.04% p.a. (6.06% p.a. comparison rate*)
  • No application fees to pay
  • 2023 Mozo Experts Choice Award winner

If you're in the market for a competitive rate on a variable home loan, online lender has come through with the goods. There are no application fees to pay and you only require a 10% deposit to get started. You can borrow between $50,000 to $2,000,000, plus, you’ll have the freedom to make free extra repayments, and redraw them without penalty too. $300 settlement fee applies. (T&Cs apply).

About the 2023 Mozo Experts Choice Home Loan Awards

When it comes to choosing a home loan lender Australians are spoilt for choice. But with this freedom comes the challenge of knowing which lender can provide the best deal. 

That’s where our 2023 Mozo Experts Choice Home Loan Awards come in.

Our experts analysed 480 home loans from 96 lenders to uncover the products they believe are worth considering. 

And with categories ranging from Best Low Cost Loan to Best Green Loan, investors and owner occupiers are bound to find a home loan that’s right for them. 

To find out who else made it onto this year’s winner list, head on over to our 2023 Mozo Experts Choice Home Loans page.

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* 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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