The lowest cost non-bank loan available for 2015 announced

Money Magazine has given loans.com.au the title of the Best Cheapest Home Loan and the Cheapest Flexible Home Loan for non-banks in 2015.

Last year saw loans.com.au take out the Best Cheapest Home Loan award as well, and this year’s broadening of the flexible category to non-banks allowed the lender to compete, explained Kim Cannon, managing director of loans.com.au’s Firstmac.

Dream Home Loan is loans.com.au’s flagship product that took out the awards. It has a 100% offset and free redraw at a rate of 4.48% (comparison 4.50%) to 90% LVR. It also offers a value pack with a $150 conveyancing voucher, financial planning up to $500, property reports and a Loan Tracker service.

“Loans.com.au has seen strong growth in the number of customers who are keen to do their own research to identify the best home loan product for them, and they are more empowered in the application process,” Cannon said.

“They make an informed choice to have more input into the application process by following through on their internet research and applying for their home loan online.”

He said that increasingly borrowers are looking to do their home loan applications online in a paperless process due to working hours, and then fill out necessary forms during lunch hour at a branch.

“A streamlined application with online tools to track each step of the process is far more appealing to smart, busy, borrowers than having to call the bank and check whether the application has progressed, or make an appointment to fit into someone else’s schedule.”