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The loans.com.au Essentials Home Loan is a basic home loan with minimal fees. Read this product review to find out if it's the right loan for you.
This product is no longer available. Information on this page is not up to date and may not reflect accurate product information. You can find loans.com.au current mortgage offers here.
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Review by
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
The Essentials Home Loan is available for purchasing or refinancing your home. Both owner occupiers and investors are eligible. You can also opt for interest-only repayments for a period, although keep in mind that switching to interest only repayments can change the interest rate you'll pay. There's also no offset account offered with this loan, although unlimited extra repayments are allowed and there's a redraw facility offered.
loans.com.au is a 100% online lender. Communication is conducted mainly on the phone and online. Loans.com.au is an Australian owned and operated company. As a certified lender, it must adhere to ASIC laws and legal requirements.
Loans.com.au customers are protected under the National Consumer Credit Protection Act (NCCP) and the company is underwritten by Firstmac, one of the largest financial services organisations in Australia. Loans.com.au is also a full member of the Mortgage & Finance Association of Australia (MFAA), and has a 'strong' rating (the best possible) from Standard & Poor's for their loan serviceability abilities.
If you would like to find out more information, apply, or just speak to someone about the loans.com.au Essentials home loan, please click on 'go to site' to be taken to loans.com.au's enquiry page. You'll be taken to a page that is similar to the one that is pictured, where you can enter a few of your details and a loans.com.au consultant will be in touch with you at a time that suits you. This enquiry is obligation-free and does not appear on your credit file.
The diagram below is courtesy of loans.com.au and represents the loan application process after you contact them.