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Some of the top-rated home loans for investors and refinancers in September 2023

Mark Bristow avatar
Mark Bristow
- 3 min read
Some of the top-rated home loans for investors and refinancers in September 2023

With no movement from the Reserve Bank of Australia (RBA) on the cash rate this month, why aren’t Australian homeowners and investors breathing a sigh of relief? Some of Australia’s biggest banks have been hiking their home loan interest rates out of cycle from the RBA, making refinancing more challenging.

It’s important to compare home loans before you consider refinancing a home loan or investing in property. A simple way to get a better idea of a home loan’s overall value is to compare Real Time Ratings™ at RateCity, which combine each loan’s cost and flexibility into a star rating. These ratings are updated regularly to help ensure their accuracy, and are ranked in different categories on RateCity’s Home Loan Leaderboards. Some of the top-ranking home loans in different categories may also become eligible for RateCity’s Gold Awards.

(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)

Some of the top-rated refinance home loans

Homeowners and property investors may also be relieved to hear that property values around Australia are bouncing back, having experienced a slump earlier in the year. These Australians may be able to maintain or grow the equity in their property, opening options to refinance or access their equity to invest elsewhere.

Some of the top-rated investor variable home loans

Big bank economists are forecasting that the cash rate should remain on hold for the rest of the year, though there’s a chance it could rise once more if inflation doesn’t respond quickly enough for the RBA’s liking. The cash rate may even be cut at some point in 2024, which could provide some relief to Australian mortgage prisoners. Choosing a variable interest rate for your investment mortgage could allow you to benefit from future rate cuts, though you also run the risk of paying for future rate hikes.

Some of the top-rated investor 5-year fixed interest only loans

Investors looking to keep their cash flow under control in an environment of uncertainty may consider fixing their interest rate and making interest-only repayments. Keep in mind that while this can help you pay less on the property in the short term and insulate you from the risk of future interest rate rises, you may also miss out on savings if rates fall in the future. Also, it may not be easy to refinance the mortgage if you come across a better deal, as you may need to budget for break costs.

Compare home loans in Australia

Product database updated 22 Jun, 2024

This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.