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

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Sally Mackenzie
February 19, 2024
We chose Uno Home Loans from their impressive web site knowing we were going to find it hard, on many fronts, to qualify for a home loan. We were incredibly fortunate to be assigned Mike Parsons as right from the get-go, despite the complexities, he hit the ground running for us. He was incredibly knowledgeable, with years of experience but what was immediately apparent and impressive was that he was totally invested in getting us over the line, doing absolutely everything possible, including working around the clock. Despite it being a relatively small loan in the order of things, Mike never missed a beat, getting docs ready, following up and answering every request from the proposed funder immediately. He kept us informed on progress the minute anything happened, and again if anything needed to be done, he was right on it. In short, we highly recommend Uno, and Mike, knowing what a remarkable job he did, over many weeks, to get us our loan. He got us a great deal, with far better rates than we expected, so we couldn't be happier. In fact, without doubt, you'd be hard pressed to find a more personable, sharp, hard working, dedicated professional who clearly prides himself on getting his customers standout results.
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Rod
February 13, 2024
Scott and his team were just A-mazing. We felt supported through the whole process with the greatest quality and care. Every question answered right in time, or even before we asked. The process was smooth and we got the best outcomes we could have wished for.
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Angela Biddle
February 6, 2024
Our mortgage recently came up for renewal, and with interest rates skyrocketing we were looking for ways to minimise the impact. Michael and his team were proactive and attentive. Michael spent time with us to understand our circumstances. He found mortgage options that worked with our current financial situation and longer investment plans. He presented clear options, providing guidance where needed. He and his team were helpful and responsive - streamlining the process and keeping us updated through the negotiations. In the end, Uno did the heavy lifting and secured a significantly better rate than our current bank offered, all with friendly, personal service. We would highly recommend UNO Home Loans.
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Fotis Bikas
January 15, 2024
I cannot help but congratulate Scott Wilkinson of UNO Home Loans for being an absolute credit to both his company and the entire loans industry. Scott is a truly rare gem of a broker in that he will not only go the extra mile to achieve for each customer the very best deal, but his knowledge of all and sundry within the industry is unsurpassed (you will see what I mean if you speak to him). Additionally, Scott has a clear passion for imparting his wealth of information with each customer, whereas the conversation with most other brokers would simply be over if they could not get you the best deal. For me, Scott Wilkinson of UNO Home Loans stands head and shoulders above the competition and I feel privileged to benefit both from his expertise and professionalism whenever it is time for a refinance or new loan.
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Tomoharu Matsui
January 11, 2024
Michael Parsons helped me a lot when it's difficult to establish my capabilities in loan.
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Gillian Kearon
January 9, 2024
I highly recommend Mike Parsons as a mortgage broker. I couldn't fault the service provided by UNO. Thanks Mike!
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Taner T
December 20, 2023
Thank you Eren Tan for the amazing service and support. Our Loan was a little tricky and complex for other lenders but Eren managed to get it over the line in record time. His professionalism and dedication to our needs was exceptional. If you need a Loan no matter how complex your situation, make sure you contact Eren at UNO Home Loans.
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Karaipu Brown
December 20, 2023
Buying & selling a house at the same time is very stressful but Scott Wilkinson from UNO home loans made sure we knew what was happening & took most of the stress away. He always kept us up to date and if we had a concern or wanted clarification on something we were able to call him, if he didn’t know the answer straight away he will find out and contact us back.. now we are enjoying our new house and turning it into a home :)
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Chris Anderson
December 18, 2023
Just completed my first loan with UNO which was so much easier than with other other brokers I have used in the past. Our broker MIKE PARSONS always had time for me and broke things down for me in the simplest of terms and was very patient with my silly questions and my constant changing of plans. I wish I had used them in the past as I wouldn't be in the situation I'm in now. Can't recommend them highly enough. Thanks UNO and Thanks MIKE 😊
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Stephen Broomfield
December 11, 2023
To be able to recommend Scott Wilkinson for your mortgage broker was a privilege. We had deals fall through but Scott supported, guided and stuck with us, proper partnership. The whole team at UNO helped us and supported us right through to after settlement. Made sure everything was correct and how we are progressing. Communication was amazing and straightforward and easy to understand. Transparent. We can not Recommend Scott and the team as Uno high enough. Use UNO with confidence.
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Tarek Hussain
December 6, 2023
Can't thank Amy enough for her hard work, dedication and determination on getting multiple loans completed for me. I wouldn't hesitate in recommending Amy and the Uno team to any of my associates. Will definitely be back in the near future!
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Linda
November 3, 2023
If you’re looking for a trustworthy, thorough, reliable & knowledgeable Mortgage Broker then you must call Anita Callaghan! I can’t even imagine how stressful this process would’ve been without her. Anita went above and beyond to make sure she answered every question, responded to every text (even on weekends/after hours), and followed up on every detail to ensure we had all the info we needed. Anita is a true people person who is warm, empathetic, kind and supportive. You can tell she loves helping people and loves what she does, which is probably why she’s so good at it! Can’t thank you enough Anita, or recommend you more highly! You’re the best!
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