Challenger home loan reviews

Challenger
Challenger's overall rating for home loans

(as rated by the Mozo community)

4.7 / 10

based on 22 reviews

Price

Features

Customer service

Convenience

Trust

Recent Challenger home loan reviews

Challenger

Challenger home loan review

Overall rating   6 / 10

Perfect for online banking

If you do your banking solely online, and you're prepared to wait up to a few days to receive a redraw, then it's great. However, it does lack that 'personal touch' that local banks/credit unions etc have.

Full review

If you do your banking solely online, and you're prepared to wait up to a few days to receive a redraw, then it's great. However, it does lack that 'personal touch' that local banks/credit unions etc have.

    Price   8 / 10

    Features   6 / 10

    Customer service   3 / 10

    Convenience   3 / 10

    Trust   4 / 10

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Dayna, New South Wales, reviewed over 3 years ago

Challenger

Challenger home loan review

Overall rating   4 / 10

Interest rate higher than most banks

It has no physical branch. The interest rate is high. Operate through a broker. Not helpful with the set up of internet banking as they offered this as one of their services. However, too difficult to access.

Full review

It has no physical branch. The interest rate is high. Operate through a broker. Not helpful with the set up of internet banking as they offered this as one of their services. However, too difficult to access.

    Price   4 / 10

    Features   3 / 10

    Customer service   8 / 10

    Convenience   4 / 10

    Trust   6 / 10

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Fiona, Western Australia, reviewed over 4 years ago

Challenger

Challenger home loan review

Overall rating   9 / 10

Over and above customer service

Their service has been great for us and that they will contact us if they are able to make changes to our loan if they will benefit us. Also they periodically contact us if we are looking for help with investment options also and have helped us...

Full review

Their service has been great for us and that they will contact us if they are able to make changes to our loan if they will benefit us. Also they periodically contact us if we are looking for help with investment options also and have helped us with our progression towards owning our first investment property.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Carl, Victoria, reviewed about 5 years ago

Challenger

Challenger home loan review

Overall rating   4 / 10

be careful of the interest rate as it is much higher than elsewhere, and they are not very understanding when you have a problem that you wish to discuss with them. Overall I believe that with a little homework that there are better people do deal...

Full review

be careful of the interest rate as it is much higher than elsewhere, and they are not very understanding when you have a problem that you wish to discuss with them. Overall I believe that with a little homework that there are better people do deal with.

    Price   3 / 10

    Features   1 / 10

    Customer service   5 / 10

    Convenience   3 / 10

    Trust   4 / 10

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Margaret, South Australia, reviewed about 7 years ago

Challenger

Challenger home loan review

Overall rating   8 / 10

Good product interest rates are normally fairly low

Full review

Good product interest rates are normally fairly low

    Price   7 / 10

    Features   6 / 10

    Customer service   4 / 10

    Trust   9 / 10

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James, Queensland, reviewed almost 8 years ago

Challenger

Challenger home loan review

Overall rating   0 / 10

Very difficult to deal with via phone - no other way to contact them as they are in a different state. Communications very difficult do to language problems with their staff. We got out of their clutches recently - life is much more pleasant for...

Full review

Very difficult to deal with via phone - no other way to contact them as they are in a different state. Communications very difficult do to language problems with their staff. We got out of their clutches recently - life is much more pleasant for us.

    Price   2 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Heather, Victoria, reviewed almost 8 years ago

Challenger

Challenger home loan review

Overall rating   0 / 10

I have had nothing but troubles with this mortgage company. I have requested numerous times for things to happen and they just seem to get lost in the black bank hole. I fill out forms they go missing. Its all too difficult and doesn't work out

Full review

I have had nothing but troubles with this mortgage company. I have requested numerous times for things to happen and they just seem to get lost in the black bank hole. I fill out forms they go missing. Its all too difficult and doesn't work out

    Customer service   1 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Fiona, Victoria, reviewed almost 8 years ago

Challenger

Challenger home loan review

Overall rating   3 / 10

They give you a good rate and then they hike it way up at the first rise. The interest rate is at least 1% higher and the exit fees are thousands of dollars.

Full review

They give you a good rate and then they hike it way up at the first rise. The interest rate is at least 1% higher and the exit fees are thousands of dollars.

    Price   2 / 10

    Features   2 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   2 / 10

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Dianne, South Australia, reviewed about 8 years ago

Challenger

Challenger home loan review

Overall rating   3 / 10

My repayments aren't paying off my loan and I can't get anyone to talk to me about it.

Full review

My repayments aren't paying off my loan and I can't get anyone to talk to me about it.

    Price   8 / 10

    Features   2 / 10

    Customer service   1 / 10

    Convenience   2 / 10

    Trust   1 / 10

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Karen, New South Wales, reviewed about 8 years ago

Challenger

Challenger home loan review

Overall rating   0 / 10

Shoddily treated.

Full review

Shoddily treated.

    Price   3 / 10

    Features   3 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Sonja, Queensland, reviewed over 8 years ago

Challenger

Challenger home loan review

Overall rating   4 / 10

Sometimes the service is slow.

Full review

Sometimes the service is slow.

    Price   6 / 10

    Features   6 / 10

    Convenience   4 / 10

    Trust   4 / 10

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Rosemerie, Queensland, reviewed over 8 years ago

Challenger

Challenger home loan review

Overall rating   2 / 10

They are inflexible and ignore any problems that I have. I am disgusted with them.

Full review

They are inflexible and ignore any problems that I have. I am disgusted with them.

    Price   1 / 10

    Features   0 / 10

    Customer service   4 / 10

    Trust   1 / 10

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Joanna, Queensland, reviewed over 8 years ago

Challenger

Challenger home loan review

Overall rating   9 / 10

Easy to deal with. Redraws and lump sum payments are available next day. Repayments can be changed over internet.

Full review

Easy to deal with. Redraws and lump sum payments are available next day. Repayments can be changed over internet.

    Price   8 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Jayne, Queensland, reviewed over 8 years ago

Challenger

Challenger home loan review

Overall rating   7 / 10

Good website.

Full review

Good website.

    Price   8 / 10

    Features   7 / 10

    Customer service   6 / 10

    Convenience   5 / 10

    Trust   6 / 10

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Glenn, Victoria, reviewed almost 9 years ago

Challenger

Challenger home loan review

Overall rating   8 / 10

Challenger's online site is easy to find your way around and all the info is a click away

Full review

Challenger's online site is easy to find your way around and all the info is a click away

    Price   8 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   9 / 10

Less

Clayton, Queensland, reviewed almost 9 years ago

Challenger

Challenger home loan review

Overall rating   2 / 10

Very cumbersome process of paying third parties from the loan facility - it entails first enacting a redraw into an external linked account and then making the payment. Interest rates have been increased by Challenger over and above Reserve Bank...

Full review

Very cumbersome process of paying third parties from the loan facility - it entails first enacting a redraw into an external linked account and then making the payment. Interest rates have been increased by Challenger over and above Reserve Bank increases, and RB decreases have not been fully passed on if at all.

    Price   1 / 10

    Features   6 / 10

    Customer service   3 / 10

    Convenience   0 / 10

    Trust   5 / 10

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Bill, South Australia, reviewed about 9 years ago

Challenger

Challenger home loan review

Overall rating   0 / 10

I will be refinancing asap away from challenger. Not happy with them at all.

Full review

I will be refinancing asap away from challenger. Not happy with them at all.

    Price   3 / 10

    Features   1 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   3 / 10

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Belinda, Queensland, reviewed about 9 years ago

Challenger

Challenger home loan review

Overall rating   7 / 10

The Challeneger home loan is an easy product to manage as it's all done online, so there is no need to deal with anyone. (I think this is Fantastic). No fees, simple to use.

Full review

The Challeneger home loan is an easy product to manage as it's all done online, so there is no need to deal with anyone. (I think this is Fantastic). No fees, simple to use.

    Price   10 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   7 / 10

    Trust   5 / 10

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Jodi, New South Wales, reviewed over 9 years ago

Challenger

Challenger home loan review

Overall rating   7 / 10

Flexible account and ease of access to our account are a bonus so you know exactly where you're up to.

Full review

Flexible account and ease of access to our account are a bonus so you know exactly where you're up to.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

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Name not supplied, Queensland, reviewed almost 10 years ago

Challenger

Challenger home loan review

Overall rating   8 / 10

Thanks, they reduced my interest rate when i was thinking of refinancing so i kept my loan with Challenger

Full review

Thanks, they reduced my interest rate when i was thinking of refinancing so i kept my loan with Challenger

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   5 / 10

    Trust   10 / 10

Less

Name not supplied, New South Wales, reviewed almost 10 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Home loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2018

    loans.com.au Essentials Variable 80 (Owner Occupier, Principal & Interest)

    loans.com.au Essentials Variable 80 (Owner Occupier, Principal & Interest)

    • A super-low rate available to purchases & refinance
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product

    interest rate

    3.64% p.a. variable

    comparison rate*

    3.66% p.a.

    upfront fees

    $520

    Go to site

    More info

    • A super-low rate available to purchases & refinance
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product
    • Interest rate: 3.64% p.a. variable
    • Comparison rate*: 3.66% p.a.
    • Upfront fees: $520
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $2,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.2

    Based on 636 loans.com.au home loan reviews

    Need more information?
    Go to site

    More info

  • HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager

    interest rate

    3.59% p.a. variable

    comparison rate*

    3.61% p.a.

    upfront fees

    $150

    Go to site

    More info

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager
    • Interest rate: 3.59% p.a. variable
    • Comparison rate*: 3.61% p.a.
    • Upfront fees: $150
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free online
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $7,500,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.0

    Based on 109 HSBC home loan reviews

    Need more information?
    Go to site

    More info

  • State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account

    interest rate

    3.68% p.a. variable

    comparison rate*

    3.69% p.a.

    upfront fees

    $0

    Go to site

    More info

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account
    • Interest rate: 3.68% p.a. variable
    • Comparison rate*: 3.69% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $100,000
    • Maximum loan amount: $2,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.1

    Based on 14 State Custodians home loan reviews

    Need more information?
    Go to site

    More info

  • Bank Australia Basic Home Loan Special (LVR<80%, Owner Occupier)

    Bank Australia Basic Home Loan Special (LVR<80%, Owner Occupier)

    • Special rate of 3.66% p.a. comparison rate applies to a maximum LVR of 80%
    • Redraw available. Flexible repayments
    • Loan repayment pause for eco-upgrades to your home or maternity leave

    interest rate

    3.65% p.a. variable

    comparison rate*

    3.66% p.a.

    upfront fees

    $0

    Go to site

    More info

    • Special rate of 3.66% p.a. comparison rate applies to a maximum LVR of 80%
    • Redraw available. Flexible repayments
    • Loan repayment pause for eco-upgrades to your home or maternity leave
    • Interest rate: 3.65% p.a. variable
    • Comparison rate*: 3.66% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $250.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $10,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.8

    Based on 79 Bank Australia home loan reviews

    Need more information?
    Go to site

    More info

  • Well Home Loans Well Balanced (Owner Occupier, Principal & Interest, LVR <80%)

    Well Home Loans Well Balanced (Owner Occupier, Principal & Interest, LVR <80%)

    • Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee.
    • Purchase, Refinance or Equity Release purposes allowed
    • Optional 100% interest offset sub-account with Visa debit card access

    interest rate

    3.49% p.a. variable

    comparison rate*

    3.53% p.a.

    upfront fees

    $600

    Go to site

    More info

    • Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee.
    • Purchase, Refinance or Equity Release purposes allowed
    • Optional 100% interest offset sub-account with Visa debit card access
    • Interest rate: 3.49% p.a. variable
    • Comparison rate*: 3.53% p.a.
    • Upfront fees: $600
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes - $10/month
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $10,000
    • Maximum loan amount: $2,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Need more information?
    Go to site

    More info

*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.

Want more? Compare all 503 home loans in the Mozo comparison engine.

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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.

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