Australia's best value home loans

Laine GordonJun 18, 2011( 2 min read )

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June 19, 2011

Your Investment Property magazine has announced their list of the best mortgage deals now available. The research takes into account not only the comparison rate but also major costs such as deferred establishment fees, upfront and ongoing fees.

Best standard variable loan:

Bank

Based on true cost after three years

NAB Choice Package Tailored HL Variable Rate > $250
ING Direct Orange Advantage
Adelaide Bank Variable SmartFit

Based on true cost after five years

NAB Choice Package Tailored
ING Direct Orange Advantage
Adelaide Bank Variable SmartFit

Non-bank

Based on true cost after three years

Reduce Home Loans Standard Variable
Homeloan HQ HLHQ Home Loan
RAMS Rate Relief Home Loan
Based on true cost after five years

RAMS Rate Relief Home Loan
Homeloan HQ HLHQ Home Loan
Reduce Home Loans Standard Variable

Three-year fixed loan:

Bank

Based on true cost after three years

Suncorp 3-year Fixed Interest in Advance Home Loan
HSBC Bank 3-year Fixed Rate Home Loan
ANZ Bank Fixed Rate 3-year

Based on true cost after five years

HSBC Bank 3-year Fixed Rate Home Loan
AMP Banking 3-year Fixed Rate ($250k-$749,999)
Suncorp 3-year Fixed Interest in Advance Home Loan

Non-bank

Based on true cost after three years

Unicredit (WA) Fixed 3-year
Heritage BS 3-year Fixed
Community CPS 3-year Fixed $200,000

Based on true cost after five years

Unicredit (WA) Fixed 3-year
Heritage BS 3-year Fixed
Community CPS 3-year Fixed $200,000+

Related mortgage links

Laine Gordon

Head Of Public Relations

Laine Gordon is the Head of Public Relations at RateCity. With a background in journalism, Laine brings over a decade of experience in personal finance to the team. She is passionate about helping people get out of debt, save money, and make better decisions about their own finances.

Today's top home loans products

Discount Offer Variable Home Loan OO P&I ($200k+)

Real Time Rating™

4.20 / 5

Advertised Rate

Comparison Rate*

2.59%

Variable

2.59%

No upfront or ongoing fees
Extra repayments + redraw services
Free redraw facility
Repayments may decrease if RBA cuts rates

View Now

Home Value Home Loan (Principal and Interest)

Real Time Rating™

4.10 / 5

Advertised Rate

Comparison Rate*

2.65%

Variable

2.66%

special

Get a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.

View Now

Premium Package Home Loan (LVR < 80%)

Real Time Rating™

3.38 / 5

Advertised Rate

Comparison Rate*

3.05%

Variable

3.38%

No upfront fees
100% full offset account
Extra repayments + redraw services
Free redraw facility

View Now

Real Deal Variable Home Loan Special (Principal and Interest) (LVR < 90%)

Real Time Rating™

3.77 / 5

Advertised Rate

Comparison Rate*

2.94%

Variable

2.98%

No upfront or ongoing fees
Extra repayments + redraw services
Repayments may decrease if RBA cuts rates

View Now

FAQs

Tip: You can use RateCity how much can I borrow calculator to get a quick answer.

How much money you can borrow for a home loan will depend on a number of factors including your employment status, your income (and your partner’s income if you are taking out a joint loan), the size of your deposit, your living expenses and any other debt you might hold, including credit cards.

A good place to start is to work out how much you can afford to make in monthly repayments, factoring in a buffer of at least 2 – 3 per cent to allow for interest rate rises along the way. You’ll also need to factor in additional costs that come with purchasing a property such as stamp duty, legal fees, building inspections, strata or council fees.

If you are planning on renting the property, you can factor in the expected rental income to help offset the mortgage, but again it’s prudent to add a significant buffer to allow for rental management fees, maintenance costs and short periods of no rental income when tenants move out. It’s also wise to factor in changes in personal circumstances – the typical home loan lasts for around 30 years and a lot can happen between now and then.

Australia's best value home loans

Related news

Home buying intentions at record high

Buying your first home? Here are four things you need to watch out for

See who's been approved for the First Home Loan Deposit Scheme

Refinancing your home loan could save you thousands of dollars

Today's top home loans products

Discount Offer Variable Home Loan OO P&I ($200k+)

Home Value Home Loan (Principal and Interest)

Premium Package Home Loan (LVR < 80%)

Real Deal Variable Home Loan Special (Principal and Interest) (LVR < 90%)

Popular home loans searches

FAQs