The cheapest fixed and variable home loan rates on offer starting from 3.99%
Non-bank lender State Custodians is currently offering one of the lowest variable rates on the market, according to a search across mortgage comparison websites by Property Observer.
State Custodians offers a variable rate of 4.74%.
Its Peak Performance Offset home loan allows for a maximum of 80% loan to valuation ratio, and can be used as either an owner occupier or investment loan.
Variable rates may fall further if the Reserve Bank of Australia (RBA) announces a further rate cut today.
The Greater Building Society offers the lowest one-year fixed-rate home loan at 3.99%. Property Observer reported last week that it is currently the only home loan with a rate below 4%.
HomeloanHQ currently offers the lowest thee-year fixed-rate loan at 4.69%. The Rate Lock Home Loan can be used for both purchases and refinance, and allows for a 75% loan to valuation ratio.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites ratecity.com.au, Mozo.com.au, infochoice.com.au and finder.com.au as of August 2:Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
Provider | Loan name | Rate | Comparison rate* |
State Custodians | Peak Performance Offset | 4.74% | 5.11% |
UBank | UHome Loan (Refinance Only) | 4.87% | 4.87% |
Loans.com.au | Dream Loan Express | 4.87% | 4.89% |
Lowest one-year fixed-rate offerings
Provider | Loan name | Rate | Comparison rate* |
Greater Building Society | Ultimate Home Loan package | 3.99% | 5.46% |
Newcastle Permanent | One year fixed rate | 4.39% | 5.69% |
UBank | UHome Loan for refinancing | 4.68% | 4.79% |
Lowest three-year fixed-rate offerings
Provider | Loan name | Rate | Comparison rate* |
HomeloanHQ | Rate Lock Home Loan | 4.69% | 5.19% |
Resi | FlexiFix Plus 75 | 4.78% | 5.54% |
Mebank | Three year fixed (member package rate) | 4.79% | 5.26% |
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles.
