Rental prices through the roof, cash no longer king & Amaysim lockdown deal: This week’s best banking news
- Big banks expand COVID support during 2021 lockdowns
- Rental prices through the roof
- Digital homelife dictates Australian energy use
- Cash is no longer king
- Get 200GB of mobile data for $20 with Amaysim’s lockdown deal
- Tic:Toc leads the way with investor mortgage rates
All in this week’s best banking news recap: editor’s pick.
Big banks expand COVID support during 2021 lockdowns
This week we’ve seen many Aussie banks starting to roll out new support options for customers affected by the latest COVID-19 lockdown restrictions.
As Australian Banking Association (ABA) chief executive Anna Bligh put it, “customers can rest assured that their bank will have their back” throughout this challenging time.
The organisation has compiled a list of recommended assistance measures that Aussie banks can choose to offer to their customers. These include mortgage holidays, account fee waivers and business banking loan repayment deferrals.
Read full article: CommBank, Westpac, ANZ & NAB expand COVID support during 2021 lockdowns to get a rundown on all the latest big bank COVID support options.
Rental prices through the roof
CoreLogic’s Rental Review for the June 2021 quarter has revealed that over the past year (up to June), rental prices have gone up by a whopping 6.6% - the highest growth rate since January 2009.
The growth follows a dip in rental performance during the 2010s, said CoreLogic’s head of research in Australia, Eliza Owens.
Factors that may have contributed to the rent rise include “increased government stimulus through COVID-19, accumulated household savings through lockdown periods, the swift economic recovery seen as restrictions eased.”
Not to mention the “lack of rental supply in some markets”, which has “also exacerbated rental price increases, particularly in major centres of regional Australia,” says Owens.
Read the full article: Rental prices rise at highest rate since 2009, says CoreLogic to get the full story.
Digital homelife dictates Australian energy use
With the progression of new technology and a global pandemic, it seems that the traditional role of the home has evolved almost overnight.
What was once a haven after a busy day at the office has now become the office. Until 5pm, that is, at which point it turns into a fully-fledged digital entertainment hub/virtual social meetup point.
Which begs the question: How does your digital homelife dictate your energy use? Apparently, quite a bit, according to Monash University’s recent Future Home Life report.
Read the full article: How your digital homelife dictates your energy use to learn more.
Cash is no longer king
It appears that cash has been dethroned, with numerous countries around the globe interested in establishing a central bank digital currency (CBDC).
This likely comes following the natural rise in digital payments over the past few years, as well as the decline in cash throughout the COVID-19 pandemic.
Read the full article: What is CBDC and why are countries considering it now? to find out more.
Get 200GB of mobile data for $20 with Amaysim’s lockdown deal
In light of the lockdowns, telco Amaysim is offering an exciting new offer to both new and existing customers.
With Amaysim’s $50 plan, you can score a massive 120GB worth of extra data (on top of the standard 80GB) for just $20 up until the 31st of July 2021 (for the first renewal). That’s 200GB of mobile data!
The renewal period for this plan is 28 days. After the first renewal, it reverts to the usual $50 for 80GB. However, it’s a no-contract plan, so you can cancel or swap to a cheaper plan at any time.
Read the full article: Amaysim lockdown deal: 200GB of mobile data for $20 to get all the details.
Tic:Toc leads the way investor mortgage rates
Investor home loan rates are lower than they’ve been in years, and it’s the online lenders that are driving them down.
Aussie fintech Tic:Toc currently offers the lowest variable rates (at 80% LVR) for both owner-occupiers and investors in the Mozo database with its Variable Home Loan offer.
“By comparison, the average Big Four variable rate for an investor is currently 4.01% - a whopping 182 basis points above the Tic:Toc rate,” said Mozo Money Writer, Tom Watson.
Read the full article: Tic:Toc leads online lender charge on investor mortgage rates to get the full scoop.
Looking for a competitive home loan deal? Well, you’ve come to the right place! Jump onto our home loan comparison tool to compare your options today:
Compare Home Loans today - last updated 28 March 2024
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Offset Home Loan
Package, Owner Occupier, LVR<60%, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.15% p.a. variable6.40% p.a.Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
CompareCompareOffset Home Loan
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- interest rate
- 6.15% p.a. variable
- comparison rate
- 6.40% p.a.
- interest rate
- 6.15% p.a. variable
- comparison rate
- 6.40% p.a.
- Upfront fees
- $350
- Ongoing fees
- $248.00 yearly
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Offset Home Loan
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Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
Express Home Loan
Owner Occupier, Principal & Interest, LVR <90%
interest rate
comparison rate
Initial monthly repayment6.01% p.a. variable6.14% p.a.Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
CompareCompareExpress Home Loan
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- Upfront fees
- $134
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- $3,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Express Home Loan
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Mozo experts choice awards won:
- Fixed Rate Home Loan - 2024
- Investor Fixed Home Loan - 2024
Fixed Rate Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 2 years6.24% p.a.Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
CompareCompareFixed Rate Home Loan
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $395.00
- Extra repayments
- yes, up to $25,000 during fixed period - fee applies
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $20,000
- maximum borrowing amount
- $2,500,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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Featured Product
Ultra Low Rate <95% LVR
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.30% p.a. variable6.58% p.a.Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required. New Purchase - Metro only.
CompareCompareUltra Low Rate <95% LVR
Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required. New Purchase - Metro only.
- interest rate
- 6.30% p.a. variable
- comparison rate
- 6.58% p.a.
- interest rate
- 6.30% p.a. variable
- comparison rate
- 6.58% p.a.
- Upfront fees
- $790
- Ongoing fees
- $0.00
- Discharge Fee
- $795.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $350,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Ultra Low Rate <95% LVR
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Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Owner Occupier, Refinance Only, LVR <80%
interest rate
comparison rate
Initial monthly repayment5.99% p.a. variable5.90% p.a.For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
CompareCompareUnloan Variable
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- 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 borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Variable
Your selected interest rates
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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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