CBA’s digital brainchild Unloan scoops top home loan award again in 2024
If there’s one home loan lender more and more Aussies are hearing about, it’s the new digital lender Unloan, built by CommBank.
And for good reason. Between seriously competitive rates, zero fees , handy features like its loyalty discount, and as little as a speedy 10 min online application process, Unloan has become a force to be reckoned with.
The Mozo expert judges think so too, as Unloan has taken out a Low Cost Home Loan award for the second year running in the Mozo Experts Choice Awards^, which is an annual head-to-head comparison of 450+ home loans in Australia, to award the best value ones for Australians.
“Taking out back to back awards in our low cost home loan category is no mean feat and with the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan continues to set the bar for what a leading home loan looks like in 2024,” said Mozo expert judge, Peter Marshall.
Unloan Variable Home Loan
- 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
- Zero upfront or ongoing fees
- Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^
Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.
More low-rate digital home loans our editors love
Macquarie - Offset Home Loan
- Variable rates from 6.14% (6.16% comparison rate*) - minimum 40% deposit
- 100% offset account, redraw facility and extra repayments
- Get up to 10 free offset accounts per loan
This competitive packaged home loan from Macquarie has all the bells and whistles you'd expect of Australia's fifth largest lender, including 100% offset (up to 10 free offset accounts per loan account), free extra repayments and online redraws, a split loan option and even repayment holidays for those times in life when you need to hit pause. There's a $248 annual package fee but no application fee to worry about.
ubank - Neat Home Loan
- Variable rates from 6.14% (6.16% comparison rate*) - min 40% deposit
- Fast and paperless online application process
- Free extra repayments
UBank has made a name for itself as one of Australia's best value online lenders, and its new Neat Home Loan is a case in point. This low cost variable home loan rewards borrowers with lower loan-to-value-ratios (LVRs) with its best rates, while also being light on fees. Features include free extra repayments and redraw. Plus, UBank is backed by NAB so you get all of the savings an online lender can offer, as well as the security of big bank backing.
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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.
** 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.
^See information about the Mozo Experts Choice Home Loan Awards
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