From Quick Direct’s 4.79%: the lowest fixed and variable home loan offerings

The lowest advertised mortgage offering -fixed or variable - is a one-year fixed rate package home loan of 4.79% offered by non-bank lender Quick Direct, according to mortgage comparison websites.

The rate is 30 basis points below the lowest big four one-year fixed rate offering – NAB one-year fixed rate of 5.09% available under its package home loan offerings.

All Quick Direct package home loans require a 10% deposit.

Borrowers looking to refinance with a major bank brand can secure a one-year fixed rate home loan with UBank – NAB’s online brand – of 4.83%.

Quick Direct is a subsidiary of Sydney-based BMC Mortgage Corporation.

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 homeloanfinder.com.au as of April 22:

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*

Loans.com.au

Blackboard Special

4.99%

5.01%

State Custodians

State Custodians Peak Performance Offset (Refinance Only)

4.99%

5.38%

Loans.com.au

Dream Loan Express Variable

5.09%

5.12%


Lowest one-year fixed-rate offerings

Provider

Loan name

Rate

Comparison rate*

Quick Direct

One year fixed

4.79%

5.46%

UBank

UHomeLoan for refinance fixed rate

4.83%

5.34%

Loans.com.au

Dream loan express fixed

4.89%

5.28%

Lowest three-year fixed-rate offerings

Provider

Loan name

Rate

Comparison rate*

ME Bank

Member Package SMHL Standard Home Loan

4.99%

5.49%

Teachers Mutual Bank

Teachers Fixed Option Loan

4.99%

5.90%

ING Direct

Residential Fixed

5.09%

5.60%

*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.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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