Home loans for buying next home

Big four banks

Australia's big four banks - ANZ, CBA, NAB and Westpac - dominate the financial market, account for roughly 74% of home loans in Australia by value.

Fixed

80% LVR

ANZ

5.74%

Fixed rate

6.81% comparison rate

Home Loan

Fixed

95% LVR

Commonwealth Bank

5.89%

Fixed rate

7.8% comparison rate

Wealth Package

Fixed

70% LVR

NAB

5.89%

Fixed rate

6.62% comparison rate

Tailored Home Loan

Fixed

70% LVR

Westpac

5.89%

Fixed rate

7.08% comparison rate

Premier Advantage Options Home Loan

Variable

60% LVR

Commonwealth Bank

6.34%

Variable rate

6.72% comparison rate

Wealth Package Standard

Variable

95% LVR

NAB

6.44%

Variable rate

6.48% comparison rate

Base Rate

Variable

70% LVR

Westpac

6.44%

Variable rate

6.76% comparison rate

Flexi First Option Introductory Home Loan

Variable

60% LVR

ANZ

6.54%

Variable rate

6.54% comparison rate

Simplicity Plus

Major banks

Other major banks account for close to 20% of home loans in Australia. Some are also owned by the big 4 banks. They tend to have a stricter lending policies compare to the big 4 banks, and some lenders are very conservative with their assessment process, hence they are able to offer slighly lower interest rates.

Fixed

95% LVR

Bendigo Bank

5.54%

Fixed rate

6.32% comparison rate

Complete Home Loan

Fixed

80% LVR

HSBC

5.59%

Fixed rate

6.32% comparison rate

Home Loan Package

Fixed

95% LVR

Adelaide Bank

5.64%

Fixed rate

6.13% comparison rate

Smartsaver Home Loan

Fixed

80% LVR

ING

5.69%

Fixed rate

6.04% comparison rate

Orange Advantage

Fixed

80% LVR

BOQ

5.69%

Fixed rate

6.31% comparison rate

Fixed Home Loan

Fixed

70% LVR

Macquarie Bank

5.69%

Fixed rate

5.97% comparison rate

Basic Home Loan

Fixed

80% LVR

AMP Bank

5.79%

Fixed rate

6.69% comparison rate

Professional Package

Fixed

70% LVR

St.George Bank

5.79%

Fixed rate

7.40% comparison rate

Advantage Package

Fixed

70% LVR

BankSA

5.79%

Fixed rate

7.40% comparison rate

Advantage Package

Fixed

70% LVR

Bank of Melbourne

5.79%

Fixed rate

7.40% comparison rate

Advantage Package

Online only lenders

Digital home loans are offered by banks and lenders that do not have branch access or employ staff to meet with customers in person. The trade-off is that you get cheaper interest rates and pay lower ongoing fees, but you will also face stricter lending policies. To get approved for a digital home loan, you generally need to be a “vanilla” customer with a PAYG job and buying a standard residential property.

Fixed

90% LVR

Tiimely Home

5.54%

Fixed rate

5.91% comparison rate

Refinance & Purchase

Fixed

90% LVR

loans.com.au

5.69%

Fixed rate

6.16% comparison rate

Fixed Home Loan

Fixed

80% LVR

Ubank

5.79%

Fixed rate

6.23% comparison rate

Flex Home Loan

Variable

90% LVR

Tiimely Home

5.94%

Variable rate

5.95% comparison rate

Refinance & Purchase

Fixed

50% LVR

Athena

5.94%

Fixed rate

6.17% comparison rate

Home Loan

Variable

90% LVR

loans.com.au

5.99%

Variable rate

6.51% comparison rate

Green Home Loan Intro

Variable

80% LVR

Unloan

5.99%

Variable rate

5.90% comparison rate

Home Loan

Variable

60% LVR

Ubank

6.09%

Variable rate

6.11% comparison rate

Neat Home Loan

Variable

50% LVR

Athena

6.24%

Variable rate

6.24% comparison rate

Straight Up

Variable

95% LVR

Sucasa

6.30%

Variable rate

6.58% comparison rate

Ultra Low Rate

Mutual banks and credit unions

Mutual banks, credit unions, and buildings societies all fall into the customer-owned banking sector in Australia. Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved.