OneTwo Rate Reducing Variable Rate Home Loan

OneTwo's Rate Reducing Variable Rate Home Loan lowers your rate as you make repayments. It's currently only available for refinancers in metro NSW and Victoria.

The Rate Reducing Variable Rate Home Loan from online lender OneTwo offers a single, low variable rate for owner-occupier refinancers. It has low fees and some creative ways of rewarding you for paying off the loan.

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Review by


Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

OneTwo's Rate Reducing Variable Rate Home Loan is an impressive offer if you meet the eligibility criteria. It's a very low variable rate loan with no fees. And OneTwo rewards you for repaying the loan by discounting your rate as your loan amount drops, and by matching any extra repayments you make up to $2,500. For some borrowers the lack of an offset account or redraw, plus the fact that you need to be a refinancer in a metro area of 2 states, might limit the appeal of this loan.

About this loan

What are the features and benefits of the OneTwo Rate Reducing Variable Rate Home Loan?

  • Required deposit. With this loan you can borrow up to 80% of your property's value.
  • Loan amount. This loan has a minimum loan size of $20,000.
  • Refinance only. OneTwo is currently only lending to refinancers who own a home (not an investment property). This may change in the future.
  • Rate discounts. For every 5% of your original loan amount you repay, OneTwo will automatically discount your rate by 0.03%. This ends once you repay 25% of your loan and represents a gradual discount that ends up being 0.15%.
  • Extra repayments. This loan allows extra repayments. Once you've had the loan for 6 months, OneTwo will match any extra repayments you make up to a total of $2,500. So, as long as you make $2,500 in extra repayments, it will effectively double.
  • No fees. This loan has no fees.

How to apply

To apply for this home loan or learn more about it, click the green button and speak to a lending specialist from OneTwo.

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