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loans.com.au Smart Booster Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $1,000,000

Rate
1.99% p.a.variable for 12 months and then 2.48% p.a.
Comparison Rate
2.47% p.a.
Service fee
$0.00
Upfront fee
$520
Go to site
Rate
2.09% p.a.variable for 24 months and then 2.79% p.a.
Comparison Rate
2.71% p.a.
Service fee
$0.00
Upfront fee
$520
Go to site

Mozo editorial review loans.com.au Smart Booster Home Loan

Last updated: 19 March 2021.

5 / 5
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What's hot
  • 1.99% variable rate (2.47% comparison rate*) for first year
  • Offset account option available
  • No application or service fees
  • 2021 Mozo Experts Choice Award winner
What's not
  • Rates revert after introductory period ends
Mozo snapshot

With no ongoing fees and some of the sharpest rates around, the Smart Booster Home Loan from online lender loans.com.au isn’t a deal you’ll want to miss. It offers two ultra low introductory variable rates to owner-occupiers, including one that starts with ‘1’!

This top-value offering has scored two 2021 Mozo Experts Choice Awards in the Offset Home Loan and Low Cost Home Loan categories.
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Key features

The loans.com.au Smart Booster Home Loan comes with a couple of different introductory variable rates, depending on how long you want that initial rate to last for:

  • If you opt for the one-year discount special, you can score an incredibly competitive rate of 1.99% (2.47% comparison rate*) for the first year before it reverts to a still decent 2.48%.
  • If you decide to go with the two-year discount special, your rate is 2.09% (2.71% comparison rate*) for the first two years before rolling over to 2.79%

This loan is available for homebuyers or refinancers looking to borrow between $50,000 and $1 million, over 15 to 30 years. You’ll need to have at least a 20% deposit to access its rates.

Besides low rates, the Smart Booster Home Loan also comes with plenty of flexible features, like extra repayments, free redraws and the option to split your loan up to five times. That means, if you want the flexibility of variable rate loans but the security of fixed rate loans, you’ll have the opportunity to get the best of both worlds by combining the Smart Booster Home Loan with loan.com.au’s Fixed Home Loan.

Plus, there is also the option to add an offset account with an additional 0.10% interest. 

With this loan you won’t have to worry about any application or ongoing fees. Although, you will need to factor in a few upfront costs, including a valuation fee ($220 or at cost) and a $300 settlement fee.

And if you prefer to coincide your mortgage repayments with pay day, the Smart Booster Home Loan makes it super easy by giving customers the choice between weekly, fortnightly or monthly repayments.


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Who is it good for

This home loan suits homebuyers and refinancers with a 20% or more deposit, who want both bang for their buck and all the bells and whistles attached.


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Any catches

Bear in mind that the Smart Booster Home Loan’s variable rates of 1.99% p.a. (2.47% p.a. comparison rate*) and 2.09% p.a. (2.71% p.a. comparison rate*) are only temporary, and will revert to steeper rates once the introductory period is over.


Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 10 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.48% p.a.

  • 1.99% p.a.

  • 12 Months

  • Variable

  • 2.47% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $220.00

  • $300.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • Optional - with 0.10% additional interest

  • $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

  • none

  • none

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.

Details

Rates and fees information correct as at 10 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.79% p.a.

  • 2.09% p.a.

  • 24 Months

  • Variable

  • 2.71% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $220.00

  • $300.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • Optional - with 0.10% additional interest

  • $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

  • none

  • none

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.

Customer Reviews

How are loans.com.au home loans rated by the Mozo community?

Overall
8.0/10
Price
9.0/10
Features
8.0/10
Customer service
7.8/10
Convenience
7.2/10
Trust
7.6/10

Latest reviews of loans.com.au Smart Booster Home Loan

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About loans.com.au

100% Australian owned, loans.com.au opened its doors in 2010 with a vision of "making it easier for people to own and invest in property". loans.com.au offers a winning combination of low interest rates and fees and a commitment to excellent customer service. loans.com.au runs its own call centre and caters to home, investment and personal finance borrowers.

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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.