Mortgage brokers don't necessarily offer the best deals... here's why

Thousands of Australians each year use mortgage brokers to refinance or get a new home loan, but did you know that some of the best value home loans on the market aren’t available through brokers?

Some of Australia’s most popular low-cost lenders like, UBank and Athena choose to bypass brokers and deal direct with borrowers. As they don’t pay broker commissions, you won’t find their home loans on broker panels.

Mozo Money Expert Kirsty Lamont says, “Brokers are a useful resource for those who need expert advice and assistance, but it’s important for borrowers to understand that you may be able to get a better home loan deal by shopping around yourself.”

So if you’d like to see what sort of deals you can access by comparing and applying online yourself, here are 5 killer home loans you won’t find by going through a mortgage broker.


Top Home Loans You Won’t Find Through a Broker - Smart Booster Home Loan
  • New 2.10% discounted variable rate for 2 years
  • Rolls over to low ongoing 2.50% (2.46% comparison rate*)
  • Optional offset account plus free redraws and extra repayments
Expert verdict

This killer home loan from online lender,, could save you thousands. By cutting out branches and brokers, is able to pass on savings to customers in the form of lower rates and fees. Flexible features include unlimited free extra repayments and redraw, multiple loan split options and an optional offset account for 0.10%. What's more, there are no ongoing monthly or annual fees. Available to borrowers with a 20% deposit for loans of up to $1 million.

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

Athena - Celebrate Variable Home Loan
  • New 2.14% variable and comparison rate* effective 5 May
  • Zero Athena fees + free offset account and redraw
  • Mozo Experts Choice Home Loan Innovation 2021 Winner^
Expert verdict

Online mortgage challenger Athena is taking on the banks with a customer first approach and some of the best value mortgages on the market, helping borrowers around the country to save money and pay off their mortgages faster. Plus, to reward borrowers for paying down their home loan, Athena will now automatically lower your rate as you pay down your loan. Available to refinancers and home buyers buying an established property in a capital or major regional city with a 60% LVR.

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

Nano - Variable Home Loan
  • 2.24% variable and comparison rate*
  • Free offset account + zero upfront or ongoing fees
  • Mozo Experts Choice Best New Home Loan of 2022^
Find out more
Expert verdict

The Nano Variable Home Loan brings to the table one of the lowest variable rates around for buyers and refinancers with 75% LVR, and refreshingly it doesn't ask borrowers to give up on flexibility or features for the opportunity to save thousands. This feature-packed home loan comes with unlimited additional repayments, free redraw and a free 100% offset account, plus there's zero Nano fees to boot. 

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

Yard - Variable Home Loan Special
  • 1.99% variable rate (2.02% comparison rate*) - limited time only
  • 100% offset account option + free extra repayments and redraw
  • Available to borrowers with 80% equity in their property
Find out more
Expert verdict

Looking for a home loan that could save you in the long run without having to sacrifice flexible features like an offset account and redraw facility? Then don’t miss the variable home loan from competitive online lender Yard. This home loan ticks all the boxes, with an awesome low rate for borrowers with an 80% LVR plus unlimited additional repayments, free redraw, a 100% offset account for an extra $10 a month, and a simple online application that makes it easy to apply.

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

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

* 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, loan amount and term entered. 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.