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Finder Awards 2020 Best Owner Occupier Home Loan – Variable

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Freedom Lend's variable rate home loan ticks almost every box a borrower needs: the rate is consistently low, it has virtually no fees and offers a 100% offset account.

Finalists:

Methodology: 2020 Best Owner Occupier Home Loan - Variable

Here's how our expert analysts assessed the Best Owner Occupier Home Loan - Variable category to pick the 2020 winner.

Selection and scoring

Products were selected from the broader market that met these criteria:

  • Variable
  • P&I
  • Min 80% loan-to-value ratio available
  • Interest rate between 2% and 5%

Scores were awarded out of 10 for each product metric, based on how each metric compares to the other products in a given category.

Scores for each metric were then weighted:

  • Interest rate: 80%
  • Total fees: 10% including application fees, service fees, settlement fees, exit fees
  • Offset account available: 10%

Products were ranked by weighted scores. Tiebreakers were ranked by the lowest interest rate in Q4.

Availability criteria

Product must be available at the time of award announcement.
Products were analysed and compared to the market on the following dates:

  • 1/9/19 (Q1)
  • 1/12/19 (Q2)
  • 29/2/20 (Q3)
  • 32/5/20 (Q4)

Products must have been in the market for at least two of the four quarters, including the most recent quarter.
Quarters were weighted as follows unless otherwise stated (with Q4 being the most recent quarter):

  • Q4: 50% of final score
  • Q3: 25% of final score
  • Q2: 12.5% of final score
  • Q1: 12.5% of final score

For products only available in three quarters, the weighting is as follows:

  • Q4: 50% of final score
  • Q3: 35% of final score
  • Q2: 15% of final score

For products only available in two quarters, the weighting is as follows:

  • Q4: 60% of final score
  • Q3: 40% of final score

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