Ratebusters home loan reviews

Ratebusters
Ratebusters's overall rating for home loans

(as rated by the Mozo community)

4.6 / 10

based on 8 reviews

Price

Features

Customer service

Convenience

Trust

Recent Ratebusters home loan reviews

Ratebusters

Ratebusters home loan review

Overall rating   0 / 10

Never use them

I would not recommend Ratebusters to anyone. It has been the worst experience ever dealing with them, you think I would have stopped in the early stages of applying for the loan, but no. And now that we have sold our house, and just received out...

Full review

I would not recommend Ratebusters to anyone. It has been the worst experience ever dealing with them, you think I would have stopped in the early stages of applying for the loan, but no. And now that we have sold our house, and just received out final payout of funds from them it has cost us thousands on top of what you actually owed at settlement. So please I would like to advise you not to use this company ever. Yes I know Ratebusters made a lot of extra money for doing nothing.

    Price   3 / 10

    Features   1 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   2 / 10

Less

Kt, Western Australia, reviewed about 5 years ago

Ratebusters

Ratebusters home loan review

Overall rating   0 / 10

Ratebusters are deceitful. I'm sorry if that seems like strong language, but there is no other phrase to describe the way in which they lure you in with a competitive rate, then gradually increase it well above what they advertise on their...

Full review

Ratebusters are deceitful. I'm sorry if that seems like strong language, but there is no other phrase to describe the way in which they lure you in with a competitive rate, then gradually increase it well above what they advertise on their website. When challenged about this, their response is "the advertised rate is for new customers only." And because of the outrageous break fess, you are locked in for 5 years. Avoid them like the plague. I wish I had.

    Price   2 / 10

    Features   3 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Bill, Queensland, reviewed about 7 years ago

Ratebusters

Ratebusters home loan review

Overall rating   9 / 10

Excellent customer service. Very low interest rates. Offset account allows any moneys to be withdrawn at any time. Credit card linked to account allowed money to be withdrawn from any ATM (now only Westpac)

Full review

Excellent customer service. Very low interest rates. Offset account allows any moneys to be withdrawn at any time. Credit card linked to account allowed money to be withdrawn from any ATM (now only Westpac)

    Price   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Andrew, Victoria, reviewed about 7 years ago

Ratebusters

Ratebusters home loan review

Overall rating   9 / 10

They have been very helpful with multiple loans, always have very good rates.

Full review

They have been very helpful with multiple loans, always have very good rates.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Gavin, Victoria, reviewed over 7 years ago

Ratebusters

Ratebusters home loan review

Overall rating   4 / 10

Ratebusters had won lender of the year for 3 years running and their rate was about 0.2% lower than the "professional pack" offered by the big 4. However, 3 years on, I still have hefty exit fees and they are now charging 0.1% higher than the...

Full review

Ratebusters had won lender of the year for 3 years running and their rate was about 0.2% lower than the "professional pack" offered by the big 4. However, 3 years on, I still have hefty exit fees and they are now charging 0.1% higher than the professional pack of the big 4. They do however have "another product" which is at a lower rate! I feel like I've been sucked in, locked in and ripped off.

    Price   2 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   4 / 10

Less

Jon, New South Wales, reviewed about 8 years ago

Ratebusters

Ratebusters home loan review

Overall rating   1 / 10

Huge application and exit fee. Poor service. Higher interest rate than other banks. Nothing to recommend at all.

Full review

Huge application and exit fee. Poor service. Higher interest rate than other banks. Nothing to recommend at all.

    Price   1 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   3 / 10

    Trust   0 / 10

Less

, Queensland, reviewed over 8 years ago

Ratebusters

Ratebusters home loan review

Overall rating   9 / 10

Exorbitant late payment fees

Full review

Exorbitant late payment fees

    Price   10 / 10

Less

Name not supplied, Victoria, reviewed about 10 years ago

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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

  • UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    • A Low rate Home Loan with $0 application fees for variable rate, $0 ongoing fees, $0 annual fees
    • Choose between weekly, fortnightly or monthly repayments and make extra repayments for free on a variable rate home loan
    • 20% minimum deposit required

    interest rate

    3.59% p.a. variable

    comparison rate*

    3.59% p.a.

    upfront fees

    $0

    Go to site

    More info

    • A Low rate Home Loan with $0 application fees for variable rate, $0 ongoing fees, $0 annual fees
    • Choose between weekly, fortnightly or monthly repayments and make extra repayments for free on a variable rate home loan
    • 20% minimum deposit required
    • Interest rate: 3.59% p.a. variable
    • Comparison rate*: 3.59% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $200,000
    • Maximum loan amount: $699,999
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    5.2

    Based on 111 UBank 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

  • 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

    3.76% p.a. variable

    comparison rate*

    3.77% 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: 3.76% p.a. variable
    • Comparison rate*: 3.77% 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

  • Queensland Country Credit Union Discount Ultimate Home Loan Special (Principal & Interest, LVR<90%) (Package)

    Queensland Country Credit Union Discount Ultimate Home Loan Special (Principal & Interest, LVR<90%) (Package)

    • Available for Owner Occupied or Residential Investment purposes
    • Fully featured home loan including 100% offset and redraw (Owner Occupied loans only)
    • Bank with Queensland’s largest regionally based, Member-owned Credit Union

    interest rate

    3.61% p.a. variable

    comparison rate*

    3.97% p.a.

    upfront fees

    $0

    Go to site

    More info

    • Available for Owner Occupied or Residential Investment purposes
    • Fully featured home loan including 100% offset and redraw (Owner Occupied loans only)
    • Bank with Queensland’s largest regionally based, Member-owned Credit Union
    • Interest rate: 3.61% p.a. variable
    • Comparison rate*: 3.97% p.a.
    • Upfront fees: $0
    • Ongoing fees: $350.00 yearly
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $100,000
    • Maximum loan amount: $5,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier, Investor
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    9.4

    Based on 22 Queensland Country Credit Union home loan reviews

    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.

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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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