Online home loans and lenders

Online lenders can deliver sharp rates and innovative products. Plus, many of them are backed by larger, traditional lenders.

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Online lenders are a popular option for homebuyers on a strict budget, or anyone who wants to save money. With sharp rates, a wide range of products and easy-to-use platforms, they can be a great alternative to traditional banks.

UBank Home Loan Offer

UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

3.09 % p.a.

variable rate

3.09 % p.a.

comparison rate

UBank Home Loan Offer

Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.

  • Interest rate of 3.09% p.a.
  • Comparison rate of 3.09% p.a.
  • Application fee of $0
  • Maximum LVR: 80%
  • Minimum borrowing: $200,000
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Compare online home loans and online brands

Rates last updated September 16th, 2019
$
Loan purpose
Offset account
Loan type
Repayment type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.09%
3.09%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.27%
3.87%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.
3.15%
3.17%
$0
$0 p.a.
80%
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments.
3.09%
3.05%
$0
$0 p.a.
80%
Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.
3.14%
3.85%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
3.57%
3.59%
$0
$0 p.a.
80%
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
3.45%
3.47%
$0
$0 p.a.
90%
Save on interest with a free 100% offset account and buy your property with just a 10% deposit.
3.15%
3.19%
$500
$0 p.a.
95%
This mortgage combines a very sharp interest rate with a 100% offset account and it's available with a 5% deposit.
2.99%
3.63%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
3.15%
3.89%
$500
$0 p.a.
95%
Lock in a low mortgage rate for 2 years and pay no ongoing fees. Includes a 100% offset account. Available with a 5% deposit.
3.59%
3.24%
$0
$0 p.a.
80%
Variable interest only mortgage for owner occupied refinancers. Refinancers only.
3.34%
3.78%
$0
$395 p.a.
80%
Unlock a range of savings with this competitive package home loan offer. Offset account and redraw facility included.
3.15%
3.82%
$500
$0 p.a.
95%
Competitive 3-year rate for homeowners. Comes with a low deposit option and 100% offset account. No ongoing fees.
3.18%
3.21%
$0
$0 p.a.
80%
This low, variable rate loan has no ongoing fees and a redraw facility. Requires a 20% deposit.
3.49%
3.45%
$0
$0 p.a.
80%
A competitive variable mortgage for investors looking to refinance. Principal and interest repayments. Refinancers only.
3.24%
3.24%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule.
3.59%
3.49%
$0
$0 p.a.
80%
A low interest only variable mortgage for investors who wish to refinance to a lower rate. Refinancers only.
3.33%
4.37%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
3.23%
3.56%
$0
$299 p.a.
80%
Get a 100% offset account and a competitive, variable interest rate, plus no application fee.
3.19%
3.44%
$395
$0 p.a.
80%
A five year fixed rate offer with no ongoing bank fees.

Compare up to 4 providers

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Are mortgages from online lenders safe?

When researching online lenders, it's possible you won't be familiar with some of the brands. However, you can rest easy knowing that online lenders are often backed by large bricks-and-mortar banks.

UBank is a subsidiary of NAB. Newer online lender Tic:Toc, which offers a fast digital approvals process, is backed by Bendigo Bank. And you might be surprised to learn how many well-established financial brands offer mortgages entirely online, such as ING and ME Bank.

With the backing of large, well-established brands, you can be certain the vast majority of online lenders are stable. However, if you are concerned about the safety of an online lender, you should check that they have a Australian Credit Licence (ACL). Lenders should list their ACL number at the bottom of their webpage. This number can be cross-referenced with ASIC Connect's databases.

Finally, it's important to keep in mind that when you take out a home loan, the lender is the one actually taking the risk. In the extremely unlikely event an online lender closes up shop, your home loan likely to be sold to another lender. This should have little to no effect on your repayments, and the only change will be the company servicing your loan.

Tell me more about some of these online lenders

Here's a little more information about some of the online lenders in our table, including which organisations fund or support them, and the digital innovations they offer:

  • UBank. This entirely digital lender is backed by NAB, one of the nation's largest banks.
  • Tic:Toc. This startup boasts that its online application tool can process your mortgage application faster. They're backed by the Bendigo and Adelaide Bank.
  • Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.
  • ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

Why should I choose an online home loan or lender over a big bank?

Because they don't have the overheads of operating branches, online lenders can pass their savings onto you in the form of much lower interest rates. Many online lenders also offer innovative products and have a wide product range to suit a variety of borrowers.

Online lenders also often have easy-to-use platforms that can help you speed through the application process. And with a heavy focus on tech development, they're often able to offer faster approvals than traditional lenders. Moreover, they can offer the ease and convenience of completing the mortgage application process from the comfort of your own home, rather than having to visit a bank branch.

Are there any downsides to going with a digital lender?

  • For regional properties. Some of the smaller online lenders aren't able to lend money for properties in regional areas. In the mortgage world, rural areas are regarded as riskier security, and many online lenders don't have the size nor expertise to handle these types of loans. When purchasing a rural property, it is worth asking around for the lenders that permit home loans for regional areas.
  • The personal touch. If you're uncomfortable with using the Internet for your banking, or you'd prefer face-to-face communication with your lender, then an online lender would not be able to meet your needs.

More questions about online home loans

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Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.09% p.a. and a 3.09% p.a. comparison rate.

Logo for Athena Variable Home Loan - Refinance (Owner Occupier, P&I)
Athena Variable Home Loan - Refinance (Owner Occupier, P&I)

Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.

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