Home Loan Deals

Find home loans from a wide range of Australian lenders that best suit your needs, whether you're investing, refinancing or looking to buy your first home. Compare interest rates, mortgage repayments, fees and more.

Special home loans offers
SPECIALNo annual fee for first year of Home Advantage Package loans applied by 31 March 2018 and disbursed by 30 June 2018
Home Advantage Variable Investment Loan (Principal and Interest)

Expiry date: 31/03/2018
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SPECIALEstablishment fee waived for Variable Basic Home Loans until 31st March 2018
Basic Investment Loan (Principal and Interest)

Expiry date: 31/03/2018
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SPECIALLow rate and $0 application fee
Accelerator Package Home Loan (Principal and Interest) Special

or applications made and unconditionally approved by 31/03/18, funded by 31/05/18. $0 application fee offer applies to application, legal and valuation fee with only one valuation fee waived.

Expiry date: 31/03/2018
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SPECIALLow rate and $0 application fee
Accelerator Home Loan Package (Principal and Interest) Special

or applications made and unconditionally approved by 31/03/18, funded by 31/05/18. $0 application fee offer applies to application, legal and valuation fee with only one valuation fee waived.

Expiry date: 31/03/2018
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SPECIALSpecial rate offer on the Choices Package Investment Loan
Mortgage Breaker Investor Special – Choices Package (QLD only) ($150k+)

Apply by 31st March 2018 to receive a lower rate on an investment loan at 4.19% p.a. variable rate (4.57% comparison rate)

Expiry date: 01/04/2018
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SPECIALNo ongoing monthly or upfront fees and a discounted rate for new borrowings of over $50k
Home Value Home Loan (Principal and Interest)

Owner occupied loans only and apply by 30 April 2018.

Expiry date: 30/04/2018
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SPECIALWaive up to $1500 in setup costs when you refinance to Hume
Property Package Standard Variable Loan (Refinance)

Refinance a loan of $100k+ ($250k+ for introductory loans) to Hume and up to $1,500 of setup costs will be waived.

Expiry date: Until Further Notice
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SPECIALSpecial discounted rate for new owner occupier, principal and interest loans of $75k+. IMB transaction account must be opened with this loan.
Budget Home Loan Special (Principal and Interest) (LVR <90%) (NSW and ACT only)

For Owner Occupied Principal & Interest and new applications only of $75k+ and LVR < 80%.

Expiry date: Until Further Notice
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SPECIALEstablishment fee waived when borrowing <$150k
Basic Home Loan (Principal and Interest)

And a $0 establishment fee if you borrow more than $150k3 when making Principal & Interest repayments

Expiry date: Until Further Notice
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SPECIALLoan Establishment fee of $600 waived for new applications until offer withdrawn
Fresh Start Basic Variable Home Loan

Expiry date: Until Further Notice
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SPECIALStandard Establishment fee of $350 and Settlement fee of $250 waived
Essential Home Loan

Expiry date: Until Further Notice
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SPECIALEstablishment fee waived for Basic home loans received from 2016
Basic Home Loan (Interest Only)

Only available for new Basic Home Loan applications received from 23rd August 2016

Expiry date: Until Further Notice
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SPECIALEstablishment fee waived for Flexi First Option Home Loan
Flexi First Option Home Loan (Principal and Interest) (New Customer)

No establishment fee - saving you $600

Expiry date: Until Further Notice
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SPECIALEstablishment fee waived on Basic Home Loans of $150k+
Basic Home Loan (Principal and Interest) (New Customer)

$0 if loan amount is greater than $150,000- for customers making Principal & Interest repayments only

Expiry date: Until Further Notice
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SPECIAL$1000 Cashback and no establishment fee when refinancing from another lender
Special Variable Rate Home Loan (Principal and Interest)

Expiry date: Until Further Notice
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SPECIALAnnual fee of $395 waived for loans with an LVR less than 70%
Platinum Variable Home Loan (Amounts < $5m)

Expiry date: Until Further Notice
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Reward home loans offers
REWARDEarn 350,000 NAB rewards points when you take out a NAB home loan of $250k+, NAB Rewards Credit Card and a NAB Transaction Account
Base Variable Home Loan (Principal and Interest)

Apply by 31 March 2018; be approved and drawdown by 30 June 2018. Not available for refinances from NAB, UBank or Advantedge.

Expiry date: 31/03/2018
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Cashback home loans offers
CASHBACKRefinance with Police Bank and they'll give you a $1000 bonus
Equity Maximiser Home Loan

Minimum loan amount $50k. Not available for investment loans. Offer applies for loans that are approved by 18 May 2018.

Expiry date: 18/05/2018
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CASHBACK$1500 Cashback on refinance of $250k+ to an Advantage Package Home Loan
Advantage Package Fixed Rate Investment Loan (Interest Only)

For Owner Occupied Principal & Interest or Investment home loans only. Excludes refinances within Westpac Group, Portfolio loans and refinances that require foreign income for serviceability.

Expiry date: Until Further Notice
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Everything you need to know about home loan deals

Taking out a mortgage is a massive financial commitment. But you can ease the pain by snaring a special home loan deal.

Many people don’t realise that banks, credit unions, building societies and non-bank lenders frequently offer short-term home loan deals.

Why? It’s because the mortgage market is so competitive, with more than one hundred lenders offering several thousand products. Given how crowded the market is, lenders often feel like the only way they can get people’s attention is to entice them with home loan deals.

To put it another way, some lenders are so hungry to sign on new customers that they will literally buy your business.

All lenders play the game

Some people might assume that only smaller lenders would resort to offering home loan deals.

However, that’s not the case. Even the big four banks – ANZ, Commonwealth Bank, NAB and Westpac – which dominate the mortgage market, feel like they need to play the specials game.

That highlights just how competitive Australia’s home loan industry has become.

There are always home loan deals available, if you know where to look.

Different types of home loan deals

Not all home loan deals are created equal. Of course, some are more generous than others. But they can also be structured very differently.

Here are the five main types of home loan deal:

  1. Rate cuts

Lenders might try to entice you by offering you a reduced home loan rate. This might be a temporary reduction that is withdrawn after, say, one or two years, or a permanent reduction that applies for the life of the loan.

  1. Fee reductions

Lenders might also promise to reduce or eliminate certain fees if you sign up for a mortgage. This might save you up to $1,000.

  1. Cashback offers

Some lenders hand out rebates, which can be worth more than $1,000. Borrowers can use this money to help pay for any establishment fees, valuation fees, settlement fees, legal fees and lenders’ mortgage insurance charges.

  1. Rewards points

Other lenders hand out credit card rewards points, which can also be worth more than $1,000.

  1. Gifts

The other popular type of home loan deal is sign-on gifts. These can include EFTPOS cards, iPads, shopping vouchers and even holidays.

Conditions always apply

There are two important points to remember when it comes to home loan deals. First, you don’t get something for nothing, so you might have to ‘pay’ for a lower rate with higher fees, or you might have to ‘pay’ for a free gift with less flexible repayment terms.

Second, conditions always apply for home loan deals. The most common condition is that you have to be a new customer (as opposed to an existing customer moving from one of the lender’s products to another). Other conditions might include:

  1. Your loan needs to be of a certain value – e.g. more than $300,000 or less than $750,000
  2. Your loan needs to be of a certain type – e.g. investment
  3. Your loan needs to have a certain structure – e.g. principal and interest
  4. Your loan needs to have a certain loan-to-value ratio (LVR) – e.g. no higher than 80 per cent or between 50 and 70 per cent
  5. Your loan needs to be bundled with other products – e.g. a credit card or savings account

A regular offer can beat a special deal

Anyone who’s planning to take out a mortgage or who is thinking about refinancing should be on the lookout for home loan deals.

However, it would be a mistake to assume that one lender’s special deal must always be better than another lender’s regular offer.

There are a lot of credible lower-profile lenders out there that regularly outperform higher-profile lenders in terms of price and service – even when those rivals have special deals.

So once you’ve explored RateCity’s home loan deals page, you should also visit RateCity’s home loan comparison page. This is a place where you can check out almost 4,000 loans, comparing them in terms of interest rate, fees, features and minimum deposit. You can also take advantage of RateCity’s Real Time Ratings™ tool, which offers a personalised home loan ranking calculated just for you.

Once you’ve done that, you might discover a regular offer that is superior to any of the short-term home loan deals.

Don’t be afraid to ask for a better deal

Borrowers and refinancers shouldn’t just be on the lookout for existing home loan deals – they should also try to manufacture their own.

Many Australians don’t realise that lenders will often hand out spontaneous home loan deals – provided you ask.

Why? It’s because the mortgage market is so competitive. If lenders think you might take your business elsewhere, there’s a chance they’ll sweeten an existing deal by offering you any combination of rate cuts, fee reductions, cashback offers, rewards points and gifts.

Don’t let these lenders pressure you into accepting spontaneous home loan deals on the spot. You should ask for the deal in writing and say you’d like time to discuss it with your family. Alarm bells should ring if the lender insists that this is a now-or-never offer. That could be a sign that the lender expects that you’re going to shop around – and find a superior offer. The lender should have no problem with giving you time if it’s confident about the quality of its offer.

Another point worth mentioning is that you shouldn’t feel embarrassed about asking a lender to give you a better deal. Lenders get asked this question all the time; it might feel strange to you but it’s standard for them. The worst that can happen is that the lender says no.

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