Rental prices through the roof, cash no longer king & Amaysim lockdown deal: This week’s best banking news

By Rhianna Dews · · 3 min read
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Rental prices through the roof, cash no longer king & Amaysim lockdown deal: This week’s best banking news
  • Big banks expand COVID support during 2021 lockdowns
  • Rental prices through the roof
  • Digital homelife dictates Australian energy use
  • Cash is no longer king
  • Get 200GB of mobile data for $20 with Amaysim’s lockdown deal
  • Tic:Toc leads the way with investor mortgage rates

All in this week’s best banking news recap: editor’s pick.

Big banks expand COVID support during 2021 lockdowns

This week we’ve seen many Aussie banks starting to roll out new support options for customers affected by the latest COVID-19 lockdown restrictions.

As Australian Banking Association (ABA) chief executive Anna Bligh put it, “customers can rest assured that their bank will have their back” throughout this challenging time.

The organisation has compiled a list of recommended assistance measures that Aussie banks can choose to offer to their customers. These include mortgage holidays, account fee waivers and business banking loan repayment deferrals.

Read full article: CommBank, Westpac, ANZ & NAB expand COVID support during 2021 lockdowns to get a rundown on all the latest big bank COVID support options.

Rental prices through the roof

CoreLogic’s Rental Review for the June 2021 quarter has revealed that over the past year (up to June), rental prices have gone up by a whopping 6.6% - the highest growth rate since January 2009.

The growth follows a dip in rental performance during the 2010s, said CoreLogic’s head of research in Australia, Eliza Owens. 

Factors that may have contributed to the rent rise include “increased government stimulus through COVID-19, accumulated household savings through lockdown periods, the swift economic recovery seen as restrictions eased.” 

Not to mention the “lack of rental supply in some markets”, which has “also exacerbated rental price increases, particularly in major centres of regional Australia,” says Owens. 

Read the full article: Rental prices rise at highest rate since 2009, says CoreLogic to get the full story.

Digital homelife dictates Australian energy use

How your digital homelife dictates your energy use

With the progression of new technology and a global pandemic, it seems that the traditional role of the home has evolved almost overnight. 

What was once a haven after a busy day at the office has now become the office. Until 5pm, that is, at which point it turns into a fully-fledged digital entertainment hub/virtual social meetup point. 

Which begs the question: How does your digital homelife dictate your energy use? Apparently, quite a bit, according to Monash University’s recent Future Home Life report.

Read the full article: How your digital homelife dictates your energy use to learn more.

Cash is no longer king

It appears that cash has been dethroned, with numerous countries around the globe interested in establishing a central bank digital currency (CBDC).

This likely comes following the natural rise in digital payments over the past few years, as well as the decline in cash throughout the COVID-19 pandemic.

Read the full article: What is CBDC and why are countries considering it now? to find out more.

Get 200GB of mobile data for $20 with Amaysim’s lockdown deal

Amaysim lockdown deal- 200GB of mobile data for $20

In light of the lockdowns, telco Amaysim is offering an exciting new offer to both new and existing customers. 

With Amaysim’s $50 plan, you can score a massive 120GB worth of extra data (on top of the standard 80GB) for just $20 up until the 31st of July 2021 (for the first renewal). That’s 200GB of mobile data!

The renewal period for this plan is 28 days. After the first renewal, it reverts to the usual $50 for 80GB. However, it’s a no-contract plan, so you can cancel or swap to a cheaper plan at any time.

Read the full article: Amaysim lockdown deal: 200GB of mobile data for $20 to get all the details.

Tic:Toc leads the way investor mortgage rates

Investor home loan rates are lower than they’ve been in years, and it’s the online lenders that are driving them down.

Aussie fintech Tic:Toc currently offers the lowest variable rates (at 80% LVR) for both owner-occupiers and investors in the Mozo database with its Variable Home Loan offer.

“By comparison, the average Big Four variable rate for an investor is currently 4.01% - a whopping 182 basis points above the Tic:Toc rate,” said Mozo Money Writer, Tom Watson.

Read the full article: Tic:Toc leads online lender charge on investor mortgage rates to get the full scoop.

Looking for a competitive home loan deal? Well, you’ve come to the right place! Jump onto our home loan comparison tool to compare your options today:

Home loan comparisons on Mozo

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can compare more home loans here.
Last updated 27 July 2024 Important disclosures and comparison rate warning*

Promoted

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Special Real Deal Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.13 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.

  • Optimum Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.69 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,899
    Go to site

    Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • OMG Home Loan

    • Owner Occupier
    • Principal & Interest
    • <60% LVR
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    6.02 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.

  • Flex Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Fixed 3 years
    Comparison rate
    6.34 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.01 % p.a.
    Variable
    Comparison rate
    6.14 % p.a.
    Initial monthly repayment
    $3,001
    Go to site

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Special Real Deal Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.13 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.

  • Basic Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.16 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.

  • Flex Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.38 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Offset Home Loan

    • Owner Occupier
    • LVR<60%
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.39 % p.a.
    Initial monthly repayment
    $3,043
    Go to site

    Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.

  • Basic Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR<70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.20 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.

  • Offset Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <70%
    Interest rate
    6.25 % p.a.
    Fixed 3 years
    Comparison rate
    6.42 % p.a.
    Initial monthly repayment
    $3,079
    Go to site

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.54 % p.a.
    Fixed 2 years
    Comparison rate
    7.10 % p.a.
    Initial monthly repayment
    $3,174

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

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Need help with refinancing?

You might have questions that need personal answers. We’ve teamed up with the mortgage brokers at Lendi to get you the answers you need, and a home loan deal you deserve.

Learn more

* 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.

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.