It was a fairly subdued week for home loan rate changes after some large institutions made changes last week.

St. George also introduced a special LMI offer, reducing the insurance to just $1 for those with a loan-to-value ratio (LVR) up to 85%.

This week, a few member-owned institutions cut home loan interest rates across a variety of home loans for investors and owner-occupiers, across both principal and interest (P&I) and interest-only (IO) payment terms.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner-occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
 Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
 Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
 Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Reliance Bank

Reliance Bank made quite a few rate changes today, mostly by 25 basis points. However, one loan was cut by 55 basis points.

That 55 point cut goes to the First Rate Investment loan paying interest only (special offer), now 3.64% p.a. (4.36% p.a. comparison rate*)

A couple of other key cuts for owner-occupiers paying P&I were:

  • FHB First Rate Special 70%: 25 basis point cut to 2.80% p.a. (2.86% p.a. comparison rate*)
  • All In One Rewards Package 750k+:  25 basis point cut to 3.40% p.a. (3.83% p.a. comparison rate*)

Keep in mind special offers can be withdrawn at any time.

People's Choice Credit Union

People's Choice made just one cut today, reducing its variable Home Loan Package for investors as a special offer by 27 basis points.

The rate is now 3.53% p.a. (3.93% p.a. comparison rate*)

Hunter United

Hunter United also made just one cut, reducing its owner-occupier loan fixed for two years by 10 basis points.

The interest rate is now 2.39% p.a. (3.81% p.a. comparison rate*)

The table below features home loans with some of the lowest fixed interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.24% p.a.
6.29% p.a.
$2,460
Principal & Interest
Fixed
$0
$0
90%
Free Redraw Facility
6.09% p.a.
6.19% p.a.
$2,421
Principal & Interest
Fixed
$0
$350
80%
6.69% p.a.
7.77% p.a.
$2,578
Principal & Interest
Fixed
$395
$0
80%
6.69% p.a.
7.19% p.a.
$2,578
Principal & Interest
Fixed
$0
$160
80%
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

UBank, Reduce also cut home loan rates

In the past week, both UBank and Reduce cut a fairly wide variety of home loan rates.

UBank

UBank cut by between 10 and 15 basis points after it reduced some home loan rates last week too.

Some key cuts from UBank this week were:

  • Discount Offer Owner-Occupier P&I: 10 basis point cut to 2.49% p.a. (2.49% p.a. comparison rate*)
  • Discount Offer Investor Variable P&I: 10 basis point cut to 2.89% p.a. (2.89% p.a. comparison rate*)
  • Discount Offer Investor Variable IO: 15 basis point cut to 3.29% p.a. (3.16% p.a. comparison rate*)

Keep in mind offers and discounted rates can end at any time.

Reduce Home Loans

Reduce cut a handful of loans for owner-occupiers by up to 10 basis points. Some key cuts were:

  • Low Rider Variable 70%: 4 basis point cut to 2.25% p.a. (2.28% p.a. comparison rate*)
  • Rate Lovers 80%: 10 basis point cut to 2.39% p.a. (2.42% p.a. comparison rate*)

Meanwhile, Reduce also raised rates slightly on a couple of home loans:

  • Low Rider Variable 70% IO Offset: 6 basis point rise to 2.60% p.a. (2.62% p.a. comparison rate*)
  • Investor Rate Lovers 90%: 10 basis point rise to 3.19% p.a. (3.19% p.a. comparison rate*)


Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy