Are you on the hunt for the best possible home loan to match your property dreams? Then you’ve come to the right place. We've got all the deets on Australia’s best home loans crowned in the Mozo Experts Choice Home Loan Awards^.
Drawing on more 65 years combined experience in financial services, our expert judges analysed 560 home loans from 99 mortgage lenders for the 2021 Mozo Experts Choice Awards, with only the top 10% of products in each category receiving the Mozo tick of approval.
The takeaway? Borrowers could save thousands. Choosing the best value home loan over the average big bank loan could save a typical borrower $93,000 over the life of the loan.^^
Find out for yourself by comparing a few of the features and pricing factors from the best value and highest quality home loans of the year below. If you want explore more options, head to the Mozo Experts Choice Awards page for Home Loans.
Australia's best home loans
loans.com.au Smart Booster Home Loan
Low 1.85% p.a. variable rate (2.21% p.a. comparison rate*) for the first 2 years
Offset account option available
No application or service fees
Multi-award-winner in the 2021 Mozo Experts Choice Home Loan Awards^
With the Loans.com Smart Booster Home Loan prepare to get the royal treatment! The loan offers a super low 1.85% p.a. variable rate (2.21% p.a. comparison rate*) for the first year (with a low 2.25% p.a. revert rate) to owner-occupiers who go for the one-year discount special. In addition, you’ll also have the option to add an offset account with an additional 0.10% interest. And to top it all off, it took out not one, but two Mozo Experts Choice Awards^ in the Low Cost Home Loan and Offset Home Loan categories.
2-year fixed rate of just 2.59% p.a. (3.17% p.a. comparison rate*)
$3,000 cashback offer when you refinance to BOQ (conditions apply)
2021 Mozo Experts Choice Home Loan Award-winner
Looking for a value-packed home loan option that’s outside of the big four? The Bank Of Queensland Discount Fixed Rate Home Loan lets you lock in a competitive rate for two years while still giving you the flexibility to pay off your mortgage faster with free extra repayments of up to $5,000 per year. As an added bonus, you can enjoy a generous $3,000 cash back offer when you refinance to BOQ (minimum loan size of $250,000, 80% LVR or less - Apply before 31 January 2022, settle by 29 April 2022).
The UBank UHomeLoan Discount Offer hits the ground running with a super competitive 1.99% p.a. variable interest rate with the same comparison rate on loans from $100,000 or more. With this home loan, you won’t have to worry about any upfront or ongoing fees and will be able to take full advantage of the split home loan feature, free extra repayments and redraw facility. And if all that’s not enough then you’ll be happy to know that this loan took out two Mozo Experts Choice Awards^ in the Low Cost Home Loan and Split Home Loan categories.
The Well Home Loans Well Balanced Variable is a total show-stopper, taking out a jaw-dropping total of five awards in the 2021 Mozo Experts Choice Home Loan Awards^. This loan offers a low 1.85% p.a. (1.88% p.a. comparison rate*) for borrowers who can afford a 20% deposit. On top of this, you’ll be able to tailor your home loan to suit your needs thanks to the split loan option and optional offset account for $10 a month. Plus, it also comes with the ability to make free extra repayments, a redraw facility and no ongoing fees.
The Newcastle Permanent Special Real Deal gets the ball rolling with a competitive 2.22% p.a. variable interest rate (2.26% p.a. comparison rate*), no application or service fees, plus a partial offset account offer. On top of this, the home loan also comes with a cashback offer for refinancers too! If you make the switch to Newcastle Permanent from another lender you could receive $2,000 cashback (to be eligible you must be refinancing at least $250,000 and apply by 31 March 2022, funded by 31 May 2022). Oh, and did we happen to mention that it took out a Mozo Experts Choice Award^ in the Offset Home Loan category?
The Athena AcceleRATES Celebrate Variable Home Loan offers some of the best value around for home loan borrowers with at least 40% deposit or equity. Not only does this home loan come with a killer variable rate and no upfront or ongoing fees, but it also rewards borrowers for paying down their mortgage, automatically lowering your rate as you pay down your loan. This loan is up for grabs for home buyers and refinancers buying an established property in a capital or major regional city. What’s also worth noting is that this loan scored Athena the prestigious Home Loan Innovation Award in the 2021 Mozo Experts Choice Home Loan Awards^.
*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 the amount and term you entered.
**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.
Interested in comparing more home loans? Check out the latest mortgage interest rates from more than 80 lenders by heading over to the Mozo home loan comparison hub.