7 of the best home loan deals right now

Multiple lenders now scrap for suitable people to lend money to, and offer a range of attractive, made-to-measure home loan deals.

Once upon a time, banks occasionally loaned money to their customers. But the banks made them work hard for it. Applicants had to be long-term customers who had saved a large deposit and proved beyond doubt they were capable of paying the loan back. Back then, not so long ago, consumers had little choice when it came to home loan deals. The banks had one option, maybe two, and even the most loyal customers were told to either take it or leave it. Many were told “application denied”. Everything was on the banks’ terms. Their customers had almost no power. Times have changed; the banks’ fairytale has fractured. Multiple lenders now scrap for suitable people to lend money to, and offer a range of attractive, made-to-measure home loan deals. Transparency is king. The ability for borrowers to also find loan products that fit their needs precisely through UNO home loans means power is now in their hands. Phillip Jiang, mortgage coach at UNO, says lenders are offering products that are much better at meeting the needs of individual homebuyers and investors. “These days, lenders are much more flexible with their products,” he says. “What they do is relate interest scaling to the risk – the more risky the loan, the higher the rates. They have also diversified their products to cater for market demand.” Jiang has identified seven lenders offering great home loan deals for the right borrower, right now:

1: Qudos Bank Low Cost Home Loan

Notable features: 3.89 per cent interest rate (comparison rate also 3.89 per cent*), no fees, up to 95 per cent of property value price can be borrowed (plus Lender Mortgage Insurance) for owner-occupiers. This may be an ideal home loan deal for first-home buyers with a small deposit. “With the big four banks, the maximum you can borrow is 92 per cent of the property value,” Jiang says. “And while the big four banks are all around 4.4-4.5 per cent [interest rate], this one is 3.89 per cent and Qudos doesn’t charge fees.” Need a home loan?UNO. The new way to get a better deal. Get Started

2: Westpac/St George Family Pledge

Notable features: up to 105 per cent of purchase price can be borrowed, no income/credit check required for guarantors. Other lenders require guarantors to prove income and assets, but not Westpac or St George. “Guarantors provide an equity guarantee only,” Jiang says. The Family Pledge arrangement is available on all of their loans.

3: AMP and Homeloans Ltd

Notable feature: Owner/occupier interest rate available for investment loans. This deal is for investors using their home as security for a loan. “All other banks determine the rate according to the purpose,” Jiang says. “If it’s for an investment, they usually charge at an investment rate. Not this one.” How much can I save by refinancing?Use UNO's calculator to estimate your savings. Calculate Savings

4: Macquarie Bank Home Loan

Notable feature: Allows up to $1 million equity to be released (if the loan-value ratio is greater than 80 per cent). “Macquarie allows cash out up to $1 million, as long as the borrower has a reasonable purpose,” Jiang says. “If you have an unencumbered house worth $2 million, you can go to Macquarie Bank and say ‘I want $1 million to buy a boat or holiday house’. If, after their checks, everything is in order, they will say ‘fine’.”

5: NAB Home Loan and Banking Bundle

Notable feature: $1500 cashback for borrowers. “This is a refinancing incentive,” Jiang says. “It goes straight into the borrower’s account after settlement.”

6: Liberty Financial

Notable feature: First-home buyers can borrow up to 95% of property value. Liberty lends enough to cover the deposit and stamp duty, and even rolls the Lenders Mortgage Insurance into the loan amount. “You just have to show you have 5 per cent – even if it’s borrowed, via credit card or personal loan,” Jiang says. How much can I borrow?Use UNO's calculator to estimate your borrowing capacity. Calculate Now

7: Pepper Money

Notable feature: Temporary residents can borrow up to 95% of property value to buy their first home with an Australian spouse/partner. “It has to be a couple – even those in a de-facto relationship,” Jiang says. “It’s the only one we know that does it.” Readers should seek advice before making any financial decisions. Photo: Getty *Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. Book a call in with UNO

Book Call Now

UNO home loans

Need help with your home loan?

UNO Brokers are available night and day for a quick review or your situation and bring expertise that will support better decision making that will save you time and money. Book in a quick call when it suits your busy schedule

Get Started

Related Articles

TESTIMONIALS

What our customers are saying

Sam Rezai
October 2, 2024
I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
Read more
S Wilko
September 23, 2024
I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
Read more
Shan Liao
September 3, 2024
I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
Read more
Nathanael Chin
September 3, 2024
Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
Read more
Patrick Winters
August 14, 2024
For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
Read more
Lee Robibaro
August 6, 2024
I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
Read more
Steve Mav
August 6, 2024
Scott and the whole team at uno have been amazing. Super responsive and helped us achieve a result that we couldn’t have possibly achieved on our own.
Read more
Thien Pham
August 5, 2024
Scott, Dalby and Jena were awesome to work with for my recent Home Loan, they are responsive and knowledgeable - which helped ensure a smooth purchase from pre-approvals to settlement. This is the second property I've purchased with UNO as my mortgage broker and would definitely recommend their services. Thanks again to the UNO Team for the awesome support.
Read more
Scott Hutchinson
August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
Read more
Jason Seam
August 5, 2024
I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
Read more
Tina Anderson
July 29, 2024
My experience with Mortgage Broker - Scott Wilkinson, and his team - exceeded my expectations! I couldn’t be happier after settlement - in this current financial climate. He listened to what my requirements were in a loan and then devised a suitable plan for me moving forward. Which was something I didn’t think was possible to achieve. I strongly believe that Scott’s qualifications and previous experience in the Finance Sector - sets him apart from other Mortgage Brokers as he has more insight into the industry and the needs of the customer. Scott was professional, provided solid options, was timely with communication and gave great advice. I will definitely be using Scott’s services in the future and I highly recommend him to anyone as a Mortgage Broker.
Read more
Marlon Baena
July 22, 2024
Karis dedication to assisting with our home loan, even while I was on holidays, truly exemplifies a commitment to excellent service. It's the small things that often make a big difference, and it seems Karis attention to detail and clear communication were key to our smooth home purchase. I highly recommend using UNO and Karis for your home loan needs.
Read more