What happens to my home loan if I die?

Don't let your debts haunt your loved ones. Make a plan for what happens to your home loan (and your home) when you die.

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Unfortunately our debts don’t disappear if we die. In fact, they are handed over to the people who are closest to us to deal with. This is a huge responsibility to leave someone, especially considering debts like our mortgage average around $434,000 in Australia.

There are three main factors that determine what will happen if you have a mortgage when you die: your will, your mortgage agreement and your insurance policies.

Your will

A will is the key to ensuring your wishes are carried out in the unfortunate event of your death. It clearly distributes your assets and gives instructions about your funeral and any legal outcomes. Yet, a recent newspoll indicated that more than 45% of Australians die without a legal will in place.

I don’t have a will

Rod Cunich

  • Rod is the manager of Slater & Gordon's Wealth Protection & Estate Planning Division.
  • He has 34 years of experience in law and practice.
  • He also has lectured on a national level for a range of topics.

If a person dies without a valid will, they are said to die "intestate". In this case, the government employs a default will, appoints an executor of their choice and divides your assets, including your house, according to a particular formula. Each state in Australia has a different process and formula, and it may not be the formula you would choose yourself.

According to Rod Cunich, the National practice group leader for succession and wealth management at Slater Gordon, intestate can get very complicated, especially in the event of divorce and blended families, and the variation in how each state approaches it is huge. He explains, “In NSW, for example, if a person is married but separated and has a new de facto spouse, both are considered spouses with an equal claim to the assets. In another state, the former spouse might get the first $50,000 and then the rest would be divided with the new de facto spouse. It can get messy very quickly.”

I do have a will

In order to ease the burden and minimise disputes in the event of your death, a legal will is a must. A will is considered legal if it’s written by someone over the age of eighteen who has mental clarity and is signed by two objective witnesses. It needs to completely dispose of all of your assets and be up-to-date with your current circumstances. New assets like a business, or a change to your family situation like children or divorce, must be updated as soon as possible.

While will kits can be purchased through Australia Post and can even be completed online, you should ideally prepare your will with the assistance of a solicitor who specialises in the area of wills and estates. They will be able to advise you for your particular situation and ensure you have thought through everything completely.

Tips for preparing your will

  • Keep a copy of your will with your important paperwork and include a note on the front stating where the original is and who to contact if you should die.
  • Ensure your will is valid by updating it annually or as soon as your financial or family situation changes.
  • Keep in mind that any beneficiary you name for your property will also be responsible for the debt you have remaining on it.

Your home loan

There are few times that you feel the weight of responsibility for such a big loan more than when you are considering your death. The person who inherits your house will also inherit your mortgage repayments. While you may not get a say in whether the house is kept or sold, you can ease the burden of that decision by entering into any mortgage agreement with your eyes wide open.

Most commonly, a home loan is cosigned with a spouse or partner. If this is the case, the co-borrower automatically assumes the mortgage – and is responsible for the debt remaining.

If you are the sole borrower on your property and you pass away, the responsibility for your debt goes to the person you name as the beneficiary. In the event of your death, the bank has the right to request the payment of the loan in full from this beneficiary. Ideally, you will have enough assets to pay off the home so they can inherit it in full. Alternatively, there could be enough equity in the property that it can be sold to pay off the loan with extra left over for the beneficiary.

If there isn’t enough equity or assets, however, it can become a big problem for the beneficiary. According to solicitor, Rod Cunich of Slater Gordon, mortgages have an all money cause. “You can sell the house to try and pay it off but if there is a short fall, your bank has the right to sue you and take your other assets to make up the difference,” he explains.

In some situations, borrowers will have a guarantor loan. This type of loan enables people to enter the property market, purchase a property they could otherwise not afford or put down a bigger deposit and avoid paying lenders mortgage insurance (LMI). The guarantor offers up his or her own property as security for your loan. In the event of your death, the bank will expect the guarantor to cover the debt or difference between what the house sells for and what is owed.

Tips for being prepared with your home loan

  • Enter into your mortgage with your eyes wide open. Make sure you fully understand the lender’s policy for what happens in the event of your death and have a signed agreement with any co-borrowers or guarantors that outlines where the money will come from and who is responsible for executing it in the event of your death.
  • Encourage guarantors and co-signers to address your mortgage in their own will and insurance options.
  • If you are considering being a guarantor, put some boundaries in place such as the amount you are willing to guarantee (limited guarantor loan options are available), take out adequate insurance for yourself and insist that the borrowers you are guaranteeing have insurance as well.

Insurance

Michal Bodi

Michal Bodi

  • Michal is a senior financial planner and financial coach with Sydney Financial Planning.
  • He has a huge range of qualifications, including Masters of Engineering (Commerce), an Advanced Diploma in Financial Services (Financial Planning), a Diploma in Financial Services (Financial Planning), and Certificate IV in Mortgage Broking to name a few.

While your death might mean you are passing on a significant amount of debt and responsibility, you can take steps to minimise or even eliminate that stress right now.

According to Michal Bodi of Sydney Financial Planning, “Insurance can be seen as a nuisance and an unnecessary cost but we actually see it as a crucial part of your wealth management plan.” Insurance can safeguard your family from making tough decisions and drastic lifestyle changes in the aftermath of your death. A financial planner can help you work through exactly what insurance you need and ensure you are adequately covered.

Life insurance

A life insurance policy will pay out a lump sum to the designated beneficiary in the event of your death - usually to your spouse or remaining family members. “Something that many people don’t realise is that life insurance is a protected asset,” Solicitor Rod Cunich explains. “This means it isn’t automatically applied to debt but given to the assigned beneficiary as a lump sum. A good life insurance policy is usually enough to pay off the house and replace the income you were bringing in to cover bills, education costs and the costs of raising a family.”

“Keep in mind that the assigned beneficiary is not forced to pay debts with the life insurance amount. If the beneficiary gets bad advice or chooses to spend the money elsewhere, they could still end up losing the house,” Cunich warns.

Mortgage protection insurance

There are two types of mortgage insurance but there is only one that works in your favour if you should happen to die. Lenders mortgage insurance (LMI) is compulsory if you borrow more than 80% of the house value but it doesn’t protect you at all. This insurance protects the lender if your house is repossessed. It will ensure the lender is reimbursed for the amount owed to them, regardless of how much the house sells for.

Mortgage Protection Insurance, on the other hand, protects you and covers your mortgage repayments in the event of death, sickness, unemployment or disability. This form of insurance is generally more expensive than life insurance and it is not necessary to double up specifically for death cover. It can be very beneficial if you are planning on leaving your house to a different beneficiary than the one who will be getting your life insurance or if you don’t have income protection or trauma insurance.

Tips for insurance policies

  • Solicitor Rod Cunich advises: “It is almost impossible to understand the fine print of an insurance policy so find an insurance broker that you trust and who can confidently explain what your particular policy covers. Get them to write their interpretation down saying what is and isn’t included so you have something to fall back on and can sue the broker if need be.”
  • Financial planner Michal Bodi recommends steering clear of insurance companies who offer easy application processes and cheap cover without medicals. “This usually means they don’t underwrite at the time of application but instead at the time of claim. They decide if they insure you during your claim.”
  • Bodi also recommends that you ‘lock in’ your premiums on level premium structure. “This means they don’t increase with your age and you’ll be able to afford the cover, even later in life.”
  • Both of our experts agreed on this point: Don’t delay getting insurance. The younger you are, the cheaper it is and you won’t have any issues like bad backs or heart problems that might prevent you from obtaining it.
  • A final note of caution from financial planner, Michal Bodi: it is important to remember that we’re more likely to get seriously sick or injured during our working life, than die prematurely (before retirement) so income protection insurance and trauma insurance are really worth investigating.”


Living in hope that you won’t die before your time is not enough. Get prepared now with a legal will, carefully considered home loan structure and adequate insurance policies to provide peace of mind for you and security for your loved ones who are left behind.

Curious about what home loan rates are at the moment? Compare the home loans below and find out

$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

HSBC Fixed Rate Home Loan Package P&IHome 2Y Fixed≥ 20% Deposit

HSBC Fixed Rate Home Loan Package
1.88%
2.86%
  • App: $0
  • Ongoing: $390 p.a.
$547
$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Nano Variable Home Loans P&IHome≥ 25% Deposit Refi Only

Nano Variable Home Loans
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$555
Switch to this competitive variable rate with zero fees. Requires a 25% deposit.

UBank UHomeLoan Fixed P&IHome 1Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
1.79%
2.32%
  • App: $0
  • Ongoing: $0 p.a.
$540
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.

Suncorp Home Package Plus Fixed P&IHome 2Y Fixed≥ 20% Deposit

Suncorp Home Package Plus Fixed
1.89%
2.85%
  • App: $0
  • Ongoing: $0 p.a.
$548
$3,000 refinance cash bonus
Lock in a low fixed rate for 2 years. Available with a 20% deposit. Eligible new borrowers can get the annual package fee reimbursed for the life of the loan. $3,000 refinance cash bonus for eligible borrowers. Other terms, conditions and eligibility criteria apply.

loans.com.au Smart Booster Discount Variable Home Loan P&IHome≥ 20% Deposit

loans.com.au Smart Booster Discount Variable Home Loan
1.85%
2.21%
  • App: $0
  • Ongoing: $0 p.a.
$545
Get a low discounted variable rate loan. Requires a 20% deposit. Get your loan processed fast and settle within 30 days.

Well Home Loans Equity Plus P&IHome≥ 40% Deposit

Well Home Loans Equity Plus
1.87%
1.90%
  • App: $250
  • Ongoing: $0 p.a.
$546
Borrowers with 40% deposits or equity can get this low variable rate loan. 100% offset account included.

St.George Fixed Rate Advantage Package P&IHome 2Y Fixed≥ 20% Deposit

St.George Fixed Rate Advantage Package
1.84%
3.38%
  • App: $0
  • Ongoing: $395 p.a.
$544
$3,000 refinance cashback
Borrowers with 20% deposits or equity can get this competitive fixed rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Apply by 30 September 2021. Terms and conditions apply). Refinancers Only.

Athena Variable Home Loan P&IHome≥ 40% Deposit

Athena Variable Home  Loan
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$555
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.

Homestar Star Gold P&IHome≥ 40% Deposit

Homestar Star Gold
1.79%
1.84%
  • App: $395
  • Ongoing: $0 p.a.
$540
Refinancers and buyers with 40% deposits can get this very competitive variable rate. It even comes with a 100% offset account.

G&C Mutual Bank Momentum Home Loan P&IHome≥ 40% Deposit

G&C Mutual Bank Momentum Home Loan
1.99%
2.01%
  • App: $0
  • Ongoing: $0 p.a.
$555
A variable rate loan for owner-occupiers looking to refinance. This loan has low fees and a 100% offset account.

ME Flexible Home Loan Fixed with Members Package P&IHome 2Y Fixed≥ 20% Deposit

ME Flexible Home Loan Fixed with Members Package
1.89%
3.17%
  • App: $0
  • Ongoing: $395 p.a.
$548
$3,000 cashback when refinancing a loan of $250,000 or more. Other conditions apply. Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.

Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit

Macquarie Bank Basic Fixed Home Loan
2.09%
2.17%
  • App: $0
  • Ongoing: $0 p.a.
$563
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit. Refinancers can switch with a convenient digital application.

Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 3Y Fixed≥ 20% Deposit

Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.09%
3.58%
  • App: $0
  • Ongoing: $395 p.a.
$563
$2,000 cashback for eligible refinancers borrowing $250,000 or more.

IMB Fixed Rate Home Loan P&IHome 3Y Fixed≥ 5% Deposit

IMB Fixed Rate Home Loan
2.07%
2.83%
  • App: $449
  • Ongoing: $6 per month
$561
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.

homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 40% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.14%
2.16%
  • App: $0
  • Ongoing: $0 p.a.
$567
A competitive rate with no application or ongoing fees. This loan is not available for construction.

Australian Unity Health, Wealth and Happiness Package Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit

Australian Unity Health, Wealth and Happiness Package Fixed Home Loan
2.14%
2.69%
  • App: $0
  • Ongoing: $399 p.a.
$567
Home buyers can lock in a low rate for 3 years. Requires a 30% deposit.

Virgin Money Reward Me Fixed Rate Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Virgin Money Reward Me Fixed Rate Home Loan
1.98%
2.66%
  • App: $300
  • Ongoing: $10 per month
$555
$3,000 refinance cashback.
Buy your home and lock in a low rate for the first two years. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 30 November 2021 and settle by 28 February 2022.

Greater Bank Great Rate Fixed Home Loan P&IHome 1Y Fixed≥ -10% Deposit

Greater Bank Great Rate Fixed Home Loan
1.59%
2.15%
  • App: $0
  • Ongoing: $0 p.a.
$526
Get one of the lowest rates on the market with this fixed rate mortgage. NSW, QLD and ACT residents only.

Well Home Loans Balanced Fixed Home Loan P&IHome 1Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
1.84%
2.01%
  • App: $250
  • Ongoing: $0 p.a.
$544
Owner occupiers can get a sharp fixed rate for the first year, plus an offset account. Available with a 10% deposit.

UBank UHomeLoan Fixed P&IHome 3Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
1.85%
2.24%
  • App: $0
  • Ongoing: $0 p.a.
$545
A competitive fixed rate loan with no ongoing fees. Requires a 20% deposit.

HSBC Home Value Loan P&IHome≥ 30% Deposit

HSBC Home Value Loan
2.19%
2.20%
  • App: $0
  • Ongoing: $0 p.a.
$570
$3,288 refinance cashback offer
This competitive variable rate loan is available for borrowers with 30% deposits. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Greater Bank Great Rate Fixed Home Loan P&IInvestment 1Y Fixed≥ 20% Deposit

Greater Bank Great Rate Fixed Home Loan
1.89%
2.27%
  • App: $0
  • Ongoing: $0 p.a.
$548
Lock in your interest rate for 1 year and pay no application or ongoing fees.

Australian Unity Health, Wealth and Happiness Package Home Loan P&IHome≥ 30% Deposit

Australian Unity Health, Wealth and Happiness Package Home Loan
2.29%
2.72%
  • App: $0
  • Ongoing: $399 p.a.
$578
A flexible, variable rate package loan with a 100% offset account. Requires a 30% deposit.

Nano Variable Home Loans P&IInvestment≥ 25% Deposit Refi Only

Nano Variable Home Loans
2.29%
2.29%
  • App: $0
  • Ongoing: $0 p.a.
$578
Investors can refinance this no-fee variable rate loan. You will need a 25% deposit. Fast online approval.

Homestar Star Classic Owner Occupied Fixed Special P&IHome 2Y Fixed≥ 20% Deposit

Homestar Star Classic Owner Occupied Fixed Special
1.79%
2.12%
  • App: $0
  • Ongoing: $395 p.a.
$540
Fix to a low rate for two years. Ongoing fee only applies while the rate is fixed. Requires a 20% deposit.

Australian Unity Health, Wealth and Happiness Package Home Loan P&IHome≥ 20% Deposit

Australian Unity Health, Wealth and Happiness Package Home Loan
2.39%
2.82%
  • App: $0
  • Ongoing: $399 p.a.
$586
A flexible and competitive variable rate package loan with a 100% offset account.

St.George Basic Home Loan P&IHome≥ 20% Deposit

St.George Basic Home Loan
2.29%
2.31%
  • App: $0
  • Ongoing: $0 p.a.
$578
$3,000 refinance cashback
Get this low-rate variable loan with a 20% deposit and pay $0 application fee. Borrow from $150k (or $250k to be eligible for the cashback offer). Apply by 30 September 2021. Terms and conditions apply. Refinancers Only.

Greater Bank Great Rate Home Loan P&IInvestment≥ 10% Deposit

Greater Bank Great Rate Home Loan
2.29%
2.30%
  • App: $0
  • Ongoing: $0 p.a.
$578
A discounted variable rate with a redraw facility and no application fee and no ongoing fee.

Bank of Melbourne Advantage Package Fixed Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Bank of Melbourne Advantage Package Fixed Home Loan
1.84%
3.38%
  • App: $0
  • Ongoing: $395 p.a.
$544
$3,000 refinance cashback
Get a competitive home loan rate for two years. Requires at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Apply by 30 September 2021. Terms and conditions apply). Refinancers Only.

Australian Unity Wealth Builder Investor Package Variable Home Loan P&IInvestment≥ 30% Deposit

Australian Unity Wealth Builder Investor Package Variable Home Loan
2.49%
2.92%
  • App: $0
  • Ongoing: $399 p.a.
$594
Investors can get a competitive variable rate on this package loan. 100% offset account included. Requires a 30% deposit.

G&C Mutual Bank Fixed Rate Home Loan P&IHome 1Y Fixed≥ 5% Deposit

G&C Mutual Bank Fixed Rate Home Loan
1.98%
2.03%
  • App: $500
  • Ongoing: $0 p.a.
$555
Lock in a sharp rate for the first year. Available with a 5% deposit.

Nano Variable Home Loans IOHome≥ 25% Deposit Refi Only

Nano Variable Home Loans
2.49%
2.17%
  • App: $0
  • Ongoing: $0 p.a.
$594
An interest-only loan for refinancing owner-occupiers with 25% deposits or equity. This loan has no fees.

Macquarie Bank Basic Home Loan P&IHome≥ 40% Deposit

Macquarie Bank Basic Home Loan
2.14%
2.14%
  • App: $0
  • Ongoing: $0 p.a.
$567
Apply for the Macquarie Bank Basic Home Loan - LVR ≤ 60% (Owner Occupier, P&I) and get a low variable interest rate, plus no application and ongoing fees. Requires a 40% deposit.

G&C Mutual Bank Basic Variable Home Loan P&IHome≥ 5% Deposit

G&C Mutual Bank Basic Variable Home Loan
2.49%
2.51%
  • App: $0
  • Ongoing: $0 p.a.
$594
A low deposit home loan for owner-occupiers. Available with a 5% deposit.

Well Home Loans Balanced Fixed Home Loan P&IHome 2Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
1.95%
2.02%
  • App: $250
  • Ongoing: $0 p.a.
$552
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.

St.George Fixed Rate Advantage Package P&IInvestment 2Y Fixed≥ 20% Deposit

St.George Fixed Rate Advantage Package
2.24%
3.89%
  • App: $0
  • Ongoing: $395 p.a.
$574
$3,000 refinance cashback.
Investors can lock in a competitive rate for two years with this package loan. You will need at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Apply by 30 September 2021. Terms and conditions apply). Refinancers Only.

loans.com.au Smart Booster Discount Variable Home Loan P&IHome≥ 20% Deposit

loans.com.au Smart Booster Discount Variable Home Loan
1.99%
2.47%
  • App: $0
  • Ongoing: $0 p.a.
$555
Home buyers can get a very low discounted variable rate for the first year. Requires a 20% deposit. Add an offset account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.

Well Home Loans Balanced Variable P&IHome≥ 20% Deposit

Well Home Loans Balanced Variable
1.99%
2.02%
  • App: $250
  • Ongoing: $0 p.a.
$555
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee.

loans.com.au Green Home Loan P&IHome≥ 10% Deposit

loans.com.au Green Home Loan
2.08%
2.36%
  • App: $0
  • Ongoing: $0 p.a.
$562
Buying an energy-efficient home to live in? Get a discounted rate and borrow up to 90%.

HSBC Home Value Loan P&IHome≥ 10% Deposit

HSBC Home Value Loan
2.54%
2.55%
  • App: $0
  • Ongoing: $0 p.a.
$597
$3,288 refinance cashback offer
A competitive value home loan with no ongoing fee. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Well Home Loans Balanced Fixed Home Loan P&IHome 3Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
2.14%
2.06%
  • App: $250
  • Ongoing: $0 p.a.
$567
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.

Athena Variable Home Loan P&IHome≥ 30% Deposit

Athena Variable Home  Loan
2.09%
2.02%
  • App: $0
  • Ongoing: $0 p.a.
$563
A low variable rate for owner occupiers with 30% deposits. No upfront or ongoing fees.

Well Home Loans Balanced Fixed Home Loan P&IInvestment 3Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
2.34%
2.36%
  • App: $250
  • Ongoing: $0 p.a.
$582
A competitive 3 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.

Bank of Melbourne Advantage Package Fixed Home Loan P&IInvestment 2Y Fixed≥ 20% Deposit

Bank of Melbourne Advantage Package Fixed Home Loan
2.24%
3.91%
  • App: $0
  • Ongoing: $395 p.a.
$574
$3,000 refinance cashback.
Lock in a low rate for two years with this competitive investment package loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Apply by 30 September 2021. Terms and conditions apply). Refinancers Only.

UBank UHomeLoan Variable Rate P&IHome≥ 20% Deposit

UBank UHomeLoan Variable Rate
2.34%
2.34%
  • App: $0
  • Ongoing: $0 p.a.
$582
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.

HSBC Home Value Loan P&IInvestment≥ 30% Deposit

HSBC Home Value Loan
2.44%
2.45%
  • App: $0
  • Ongoing: $0 p.a.
$590
$3,288 refinance cashback offer
This variable rate loan is available for property investors with 30% deposits. This loan has very few fees. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Athena Variable Home Loan IOHome≥ 30% Deposit

Athena Variable Home  Loan
2.84%
2.32%
  • App: $0
  • Ongoing: $0 p.a.
$621
A variable loan with interest-only repayments for owner-occupiers with 30% deposits. This loan has no fees.

Nano Variable Home Loans IOInvestment≥ 25% Deposit Refi Only

Nano Variable Home Loans
2.59%
2.40%
  • App: $0
  • Ongoing: $0 p.a.
$601
This variable investment loan has interest-only repayments and is for refinancers only. Fast online approval. Requires a 25% deposit.

IMB Fixed Rate Home Loan P&IHome 1Y Fixed≥ 5% Deposit

IMB Fixed Rate Home Loan
2.19%
2.98%
  • App: $449
  • Ongoing: $6 per month
$570
Lock in a rate for one year and get the ability to make additional repayments for 12 months without penalty. Face-to-face consultations available for NSW and ACT customers. Available with a 5% deposit.

homeloans.com.au Low Rate Home Loan with Offset IOInvestment≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
$609
A competitive rate with no application or ongoing fee. This loan is not available for construction.

Suncorp Home Package Plus Fixed P&IInvestment 3Y Fixed≥ 20% Deposit

Suncorp Home Package Plus Fixed
2.28%
3.15%
  • App: $0
  • Ongoing: $0 p.a.
$577
$3,000 refinance cash bonus
Borrowers with 20% deposits can lock in a low fixed rate loan for three years. Eligible new borrowers can get the annual package fee reimbursed for the life of the loan. $3,000 refinance cash bonus for eligible borrowers. Other terms, conditions and eligibility criteria apply.

Greater Bank Great Rate Fixed Home Loan P&IHome 2Y Fixed≥ 10% Deposit

Greater Bank Great Rate Fixed Home Loan
1.59%
2.10%
  • App: $0
  • Ongoing: $0 p.a.
$526
A discounted 2 years fixed rate for home buyers. Available with just a 10% deposit. Guarantor option available. NSW, QLD and ACT residents only.

Bank of Melbourne Basic Home Loan P&IHome≥ 20% Deposit

Bank of Melbourne Basic Home Loan
2.29%
2.31%
  • App: $0
  • Ongoing: $0 p.a.
$578
$3,000 refinance cashback
A competitive variable rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Apply by 30 September 2021. Terms and conditions apply). Refinancers Only.

Athena Variable Home Loan IOInvestment≥ 30% Deposit

Athena Variable Home  Loan
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
$609
Investors with 30% deposits can get this fee-free variable rate loan. This loan has interest-only repayments.

homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.24%
2.26%
  • App: $0
  • Ongoing: $0 p.a.
$574
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.

Suncorp Back to Basics Home Loan P&IHome≥ 20% Deposit

Suncorp Back to Basics Home Loan
2.44%
2.45%
  • App: $0
  • Ongoing: $0 p.a.
$590
A competitive variable interest rate loan with low fees. The establishment fee is waived if you borrow $150,000 or more.

Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 1Y Fixed≥ 5% Deposit

Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.19%
3.83%
  • App: $0
  • Ongoing: $395 p.a.
$570
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.

homeloans.com.au Low Rate Home Loan with Offset IOHome≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset