X factor mortgages: The lenders offering more than just hot rates

Tom Watson

02 Aug 2019

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Rates are tumbling! 

With an increasing number of competitively priced rates for both refinancers and new borrowers on the market, could now be the time to find something that goes above and beyond… a home loan with a real ‘x’ factor to it?          

From annul customer loyalty discounts to super fast online approvals applications and even an innovative credit card killing home loan that may just see you waving goodbye to credit card debt once and for all, lenders are stepping up their game to entice borrowers with more than just low rates. 

Intrigued? We’ve wrapped up four x factor home loans offering hot interest rates and some special extras to whet your appetite. 

X FACTOR HOME LOANS

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Athena Variable Home Loan
  • 3.09% variable rate (3.05% comparison rate*)

  • Annual loyalty bonus just for making your repayments on time, for the first 5 years

  • Zero fees

X Factor

Turning heads with a seriously low 3.09% variable rate (3.05% comparison rate*) for refinancers living in capital or major regional cities, Athena’s Variable Home Loan is also chock-full of handy features to keep your expenses low. Not only is the loan completely fee-free, it also gives borrowers the option of making free extra repayments and to dip into those extra contributions via a free redraw facility. Perhaps best of all for borrowers, Athena goes the extra mile by actually rewarding borrowers for their loyalty! That’s right, on top of their already super low rate, Athena are offering a 0.01% loyalty discount bonus each year for the first five years.

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Tic:Toc Variable Home Loan
  • 3.07% variable rate (3.08% comparison rate*)

  • Approvals in as little as 22 minutes

  • No application, set up or ongoing fees

X Factor

As the 2019 Mozo Experts Choice Online Home Lender of the Year you know Tic:Toc isn’t going to disappoint, and with seriously low interest rates starting from 3.07% (3.08% comparison rate*) it doesn’t. If a low rate isn’t enough, Tic:Toc is offering borrowers something truly unique - a home loan application and approval process that can take just 22 minutes through its innovative online platform. And with zero application and ongoing fees, free extra repayments, an optional offset account (for $10 a month) and the potential for owner occupiers making principal and interest repayments to borrow with just a 10% deposit, this could be a loan worth considering.

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loans.com.au ZIP Home Loan
  • 3.23% variable rate (3.25% comparison rate*)

  • Zip Debit Card option

  • Free extra repayments and redraw facility

X Factor

Online lender loans.com.au is well known for its low rates, and it hasn’t failed to impress with the 3.23% variable rate (3.25% comparison rate*) on offer to ZIP Home Loan customers. Borrowers can make use of features such as unlimited free extra repayments and a free redraw facility, but it’s the ZIP Debit Card which provides the real ‘x’ factor. Named the Best New Feature in the 2019 Mozo Experts Choice Home Loan Awards, the ZIP Visa Debit Card gives borrowers a $5,000 credit facility with no fees and no interest rate. Did someone say potential credit card replacement?

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Bank of Queensland 3 Year Discount Fixed Rate
  • 3 year fixed rate of 2.99% (4.19% comparison rate*)

  • $1,000 cashback for first home buyers

  • Free extra repayments (up to $5,000 p.a)

X Factor

Speaking of low rate offers, the Bank of Queensland’s 3 year fixed interest rate of just 2.99% (4.19% comparison rate*) is hard to beat. BOQ aren’t stopping there though. To sweeten the deal even further, BOQ are even offering first home buyers an extra incentive of $1,000 cashback for home loan over $300,000 when they apply by 31 August, 2019. While borrowers will need to budget for $450 in upfront fees and a $10 monthly fee, the 3 Year Discount Fixed Rate also features the ability for borrowers to make extra repayments towards their loans (for free) of up to $5,000 each year.

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.

Fancy looking at even more great home loan deals? Head over to the Mozo home loan comparison table to compare variable and fixed rate offers from a range of lenders.

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