One of Australia's fastest growing non-bank home loan lenders, Mortgage House has been dedicated to putting Aussies into their dream homes since it began operations in 1986. And they've got award-winning loans to suit a range of homebuyers, with Mortgage House having taken out three 2019 Mozo Experts Choice Awards in the Low Cost Home Loan, Offset Home Loan and Split Home Loan categories.
Check out the home loans on offer from this up-and-comer below.
Rates and fees verified as correct at 11 August, 2020. Other information correct at the time of writing.
If you like the certainty of a set monthly budget, take a look at the fixed rate home loan offer from Mortgage House. Available for up to 95% of the property’s value, this loan comes with the ability to make unlimited extra repayments without penalty. You’ll also have the use of an offset account and free redraw facility (minimum applies). But keep in mind, there are upfront application, legal and settlement fees to consider, as well as a monthly service fee.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.94% p.a. | 3.39% p.a. | $10.00 monthly | $840 | ||
| 2.74% p.a. | 3.19% p.a. | $10.00 monthly | $840 | ||
| 2.54% p.a. | 2.96% p.a. | $10.00 monthly | $840 | ||
| 2.84% p.a. | 3.37% p.a. | $10.00 monthly | $840 | ||
| 2.59% p.a. | 3.12% p.a. | $10.00 monthly | $840 | ||
| 2.44% p.a. | 2.75% p.a. | $10.00 monthly | $840 | ||
| p.a. | n/a | $395.00 yearly | $840 | ||
| 3.94% p.a. | 5.57% p.a. | $395.00 yearly | $840 | ||
| 3.79% p.a. | 4.93% p.a. | $395.00 yearly | $840 | ||
| 2.44% p.a. | 3.87% p.a. | $395.00 yearly | $840 | ||
| 2.54% p.a. | 2.81% p.a. | $0.00 | $840 | ||
| 2.44% p.a. | 2.60% p.a. | $0.00 | $1,440 |
For a little extra flexibility, the Mortgage House variable rate offer may be just the ticket. Like the fixed rate alternative, you can borrow up to 95% of the property’s value. You can also make unlimited free extra repayments and make use of the free redraw facility (minimum applies) and offset account. Remember there are legal, settlement and monthly service fees to pay. There is a fee free option, but if you choose this one, you’ll forfeit the offset account feature.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.19% p.a. | 3.38% p.a. | $10.00 monthly | $840 | ||
| 2.99% p.a. | 3.18% p.a. | $10.00 monthly | $840 | ||
| 3.14% p.a. | 3.33% p.a. | $10.00 monthly | $840 | ||
| 4.24% p.a. | 4.42% p.a. | $10.00 monthly | $840 | ||
| 2.49% p.a. | 2.69% p.a. | $10.00 monthly | $840 | ||
| 2.79% p.a. | 2.98% p.a. | $10.00 monthly | $840 | ||
| 2.99% p.a. | 3.06% p.a. | $0.00 | $840 | ||
| 2.49% p.a. | 2.56% p.a. | $0.00 | $840 | ||
| 2.79% p.a. | 2.86% p.a. | $0.00 | $840 | ||
| 3.24% p.a. | 3.72% p.a. | $395.00 yearly | $840 | ||
| 3.04% p.a. | 3.52% p.a. | $395.00 yearly | $840 | ||
| 4.34% p.a. | 4.79% p.a. | $395.00 yearly | $840 | ||
| 2.84% p.a. | 3.33% p.a. | $395.00 yearly | $840 | ||
| 3.14% p.a. | 3.62% p.a. | $395.00 yearly | $840 | ||
| 2.89% p.a. | 2.93% p.a. | $0.00 | $940 |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| Free extra repaymentsFree extra repayments | You can make unlimited extra repayments, without any fees or penalties, on any variable or fixed rate Advantage home loan offer from Mortgage House. |
| Offset accountOffset account | Park your savings in the offset account included with most Mortgage House home loan offers to cut back on interest costs. |
Want to know how Mortgage House stacks up in terms of trust, customer service and convenience? Find out in our customer review section.
I have been with them for over 3 years. It is easy to get your loan approved from them. The problems start when you want to get them to review your rates. You will get weeks before this can be done. Also when I try to leave this mob, they keep...
I have been with them for over 3 years. It is easy to get your loan approved from them. The problems start when you want to get them to review your rates. You will get weeks before this can be done. Also when I try to leave this mob, they keep postponing/rescheduled the appointments for settlement/bank discharge. My advice is never never get sucked in by cheap rate. I have learnt my lessons and go for reputable banks' loans now.
Philip, Western Australia, reviewed 28 days ago
I have dealt with several employees at Mortgage house and none of them have returned calls or done what they promised without many emails and phone calls. Today I spoke with a manager and found that the poor service comes from the top down. The...
I have dealt with several employees at Mortgage house and none of them have returned calls or done what they promised without many emails and phone calls. Today I spoke with a manager and found that the poor service comes from the top down. The manager was somewhat disinterested and unapologetic. Only once I pointed out that I would not be recommending Mortgage house despite their good rates and that I would be noting their bom in able service on social media that he agreed to look into it and get back to me. This is not an institution that wants my business.
Carol, New South Wales, reviewed about 2 months ago
Service is very bad. If i can take back my money I would rather go somewhere else. As soon as they get your business they start showing their true colours. They didn't discuss the list of fees they charge once settlement is done. I still have...
Service is very bad. If i can take back my money I would rather go somewhere else. As soon as they get your business they start showing their true colours. They didn't discuss the list of fees they charge once settlement is done. I still have pending refund that I am waiting and it's well over a month since my settlement and until now no one has bothered to get in contact with me despite the number of emails I sent.
Perlita, New South Wales, reviewed about 2 months ago
At a time when interest rates were around falling to around 4% I was paying 7.45%. 8/9/19 I requested a rate review of my variable interest rate. 9/9/19 Email was confirmed as received by Mortgage House. 24/9/19 requested an update,...
At a time when interest rates were around falling to around 4% I was paying 7.45%. 8/9/19 I requested a rate review of my variable interest rate. 9/9/19 Email was confirmed as received by Mortgage House. 24/9/19 requested an update, nothing. I was fobbed off, someone would make contact, paperwork required. I submitted my statement of financial position submitted - twice. Last statement sent 5/2/20, I received a meeting invite on 14/2/20 for a phone call... never received a call. 20/2/20 sent a follow up email - crickets again. In the meantime I was dealing with Aussie Home Loans and after a drawn out discharge process, I'm on an interest rate of 2.99% (compared to MH: 6.87% (since Mar 20), 7.21% (since Oct 19). If you are considering Mortgage House, please beware and do your research, you will not be valued nor looked after.
Erica, Australian Capital Territory, reviewed about 2 months ago
Simple competitive mortgage broker that make the loan process simple.
Simple competitive mortgage broker that make the loan process simple.
Huy, New South Wales, reviewed 3 months ago
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If you decide to take the plunge and apply for a home loan with Mortgage House, there are a few documents you should have with you in order to make the process as smooth as possible, including: