Australia’s best home loans have just been ranked for the 2019 Mozo Expert’s Choice Awards, and the results are eye opening. Choosing the best value home loan over the average big bank loan could save a typical borrower more than $72,000 over the life of the loan*, but with so many options available it can be hard to know where to start.
The Mozo Experts Choice judges have over 50 years of financial services experience, so it’s pretty safe to say they know a good deal when they see one. For this year’s Awards, our experts compared 436 home loans from 85 lenders and only the top 10% of products in each award category got the seal of approval.
So whether you’re looking to buy your first home or refinance and save, start off on the right foot by comparing some of this year’s best value home loans below.
Mozo Experts Choice Winning Home Loans 2019
UBank UHomeLoan – Discount Offer
UBank
- 3.34% variable rate (3.34% p.a. comparison rate*)
- No hidden fees plus free extra repayments and redraw
- Best Low Cost Home Loan and Split Home Loan Winner
Expert verdict
The UBank UHomeLoan is a perennial award winner, and with such great value on offer it’s not hard to see why. Being an online bank, UBank is able to offer super sharp rates and get rid of hidden costs like application and ongoing fees. The super low 3.34% rate is available for loans of $200,000 or more with a minimum deposit of 20%, and the online application process is fast and easy. You’ll also have the security of knowing that UBank is backed by NAB.
Where do I get it?Head over to UBank to find out more >>
loans.com.au Smart Home Loan
loans.com.au
- 3.03% variable rate (3.05% comparison rate*)
- $0 application or ongoing fees
- Unlimited free extra repayments and redraw facility
Expert verdict
Looking for a loan that delivers big savings? Look no further than the Smart Home Loan from loans.com.au. This ultra low rate, low fee mortgage is packed with handy features like free extra repayments, unlimited free redraw and a split rate option. loans.com.au actually took out the Low Cost Home Loan Award for its Essentials Variable 80 loan, but the brand new Smart Home Loan has an even lower rate and all the same great features as the Essentials, so we’d be crazy not to review it here.
Where do I get it? Head over to loans.com.au to find out more >>
Tic:Toc Variable Home Loan
Tic:Toc
- 3.07% variable rate (3.08% comparison rate*)
- As little as 10% deposit required
- 2019 Mozo Experts Choice Online Lender of the Year
Expert verdict
Winner of the Mozo Experts Choice Online Lender of 2019 award, Tic:Toc is transforming the home loans process with a super streamlined 100% online approval process and simple, great value home loans. The Tic:Toc Variable Home Loan offers all of the features you want (think ultra low rate, free extra repayments and redraw plus an optional offset account) and none you don’t like annoying fees.
Where do I get it? Head over to Tic:Toc to find out more >>
UBank UHomeLoan
UBank
- 2.99% fixed rate for 1 year (3.86% comparison rate*)
- Free extra repayments up to $20,000 p.a.
- Fast and easy online application
Expert verdict
With
a fast and easy application process, a sub 3.00% rate for the first
year and the flexibility to make free additional repayments up to
$20,000 a year, this little gem could be a great choice for borrowers
who want the security of fixed repayments plus the freedom to pay the
loan off faster. UBank is backed by NAB and has home loan experts on tap
to help you through the online application process.
Where do I get it? Head over to UBank to find out more >>
Newcastle Permanent Special Real Deal Home Loan
Newcastle Permanent
- Unlimited free extra repayments
- No application or ongoing fees
- Option to split account between fixed and variable rate
Our verdict
The Real Deal Home Loan doesn’t play around. Its competitive 3.49% p.a. variable rate (3.49% p.a. comparison rate*) earned it a win in the First Home Buyer and Investor Home Loan categories. It’s also bolstered by a long list of features, including free extra repayments, repayment holidays, split account options and minimal fees to boot.
Where do I get it? Head over to Newcastle Permanent to find out more >>
Athena Variable Home Loan
Athena
- 3.09% variable rate (3.05% comparison rate*)
- Free extra repayments and redraw facility
- No upfront or ongoing fees
Expert verdict
Since the beginning, Athena has been challenging the big four banks head on, and the new Athena Variable Home Loan is one of their golden performers. The value-packed refinance mortgage features a 3.09% variable rate (3.05% comparison rate*) and no application, valuation or ongoing fees. But there’s more! The loan also offers free extra repayments and a free redraw facility. Just keep in mind, if you’re a first home buyer, you won’t be able to get this loan as it’s only for refinancers, living in capital or major regional cities.
Where do I get it? Head over to Athena to find out more >>
HSBC Discounted Home Value Loan
HSBC
- 3.47% variable interest rate (3.48% comparison rate*)
- No hidden ongoing fees
- Borrow with just 10% deposit
Expert verdict
HSBC’s Home Value Loan took out awards in the Low Cost Home Loan, First Home Buyer Loan and Split Home Loan categories, making it one of the year’s most impressive performers. Proving that big banks can offer competitive value, HSBC nails it with a low rate, low fee loan that includes a range of attractive features such as free extra repayments, unlimited redraw and a split rate option. You’ll even get a dedicated relationship manager to help you with the application process.
Where do I get it? Head over to HSBC to find out 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.
Want to compare more home loans? View the latest mortgage rates from 80 plus lenders at Mozo’s home loan comparison hub.
This is just a selection of our Mozo Experts Choice Home Loan 2019 winners. Head over to our dedicated Awards page to see the full list of winners.
The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Product providers don’t pay to be in the running and we don’t play favourites. Award winners may choose to purchase a licence to use their award in their own marketing and may choose to list products on the Mozo website in a way that may generate revenue for Mozo.
* Loan savings based on a $400,000 owner occupier loan over 25 years with principal and interest repayments.
Calculate your home loan repayments
Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.
