7 of the best home loan deals right now

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


What our customers are saying

Gabe Windsor
October 26, 2023
What a fantastic experience using UNO Home Loans. Mike Parsons and the team were exceptional. Such an easy, hassle free experience, cannot recommend them highly enough. Mike Parsons was in touch every step of the way, and with him doing all the leg work, the transition to a refinanced home loan was a very easy one. Thank you!
Read more
Laurisa Sticotti
July 1, 2023
Scott Wilkinson has been fantastic when dealing with my broking needs. He has held my hand through every step of the way and has made purchasing my first home a much more comfortable experience than I anticipated.
Read more
Thusi Gamage
July 1, 2023
Awesome team, Very reliable and friendly. Scott Wilkinson is very experienced and knowledgeable.He guided us throughout the process and was available to help.
Read more
Omar Zazou
June 1, 2023
I have worked with Scott Wilkinson to get my home loan and he has been a massive help to navigate my first home purchase. He has taken care of all the financial details and I didn't need to worry about anything. Highly recommend him for his professionalism, patience and support!
Read more
Kelly O'Connor
June 1, 2023
You won’t find any broker better than Anita at UNO. We’ve told all our friends and family about her and will be using her for all our mortgages in the future! A stress free process from the start. She listened to our needs and was always available.
Read more
Ashley Morson
We are truly grateful for uno home loans and our broker Karis Churchill. This is our second time purchasing a home with the help from Uno and both times have been a very positive experience. Our recent purchase had many obstacles due to different factors however it was our dream home and we were up for the challenge. Our broker Karis was a true support and went above and beyond. She communicated so well with our solicitor and the real estate agents. She kept us updated through every step and kept us motivated when things seemed impossible. Uno is very fortunate to have Karis as a broker and we would highly recommend her to anyone. Our family are so happy we are now in our new forever home. Thank you so much Karis and to the uno team!!!
Read more
Ebubekir Demir
Thank you Eren for your quick and efficient turn around time to getting an approval for a loan. Will be recommending you to anyone that needs a quick and reliable loan.
Read more
No items found.