The cheapest fixed and variable home loan rates on offer starting from 3.99%

The cheapest fixed and variable home loan rates on offer starting from 3.99%
Diane LeowDecember 7, 2020

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.auMozo.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.

Diane Leow

Diane has spent her entire career in the world of digital. She is passionate about delivering the best content to a world that is becoming increasingly jaded by the news. She also believes in the importance of great journalism and how it can change the world. Oh, she also drinks a lot of coffee.

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