Best home loans with offset account

Best home loans with offset account

The phrase ‘Best home loans’ is not a recommendation or rating of products. This blog post compares a range of home loans who placed bids or indicative offers from 06/5/2017 to 06/06/2016 for owner occupier or PPOR loans. Not all customer situations, products or providers are included or represented. No home loan is one size fits all. The best home loan for you will not be the best home loan for someone else. As a result, it’s worth getting advice on whether a product is right for you before committing.


With a variety of home loans on offer, there’s never been a better time to look through your options and find the best home loan for your owner occupier or principal place of residence mortgage.


Best home loans with offset accounts right now

We put together a comprehensive list of the best home loan interest rate offer’s we’ve seen via the LoanDolphin auction platform.

RateComparison rateBank TypeOffset accountRedrawOnline bankingFeesComments
3.69%4.09%Non-major bankYesYesYes$0 Application fee
$395 Annual fee
This is a special rate from a well known non major bank
3.71%4.01%Non-major bankYesNoYes$0 Application fee
$295 per annum
A well known national online lender
3.78%4.08%A major bankYesYesYes$600 application fee waived
$240 per annum
Special pricing
Maximum LVR 80%
National lender with branch distribution.
3.99%4.11%Major bankYesYesYes$0 Application fee
$395 annual fee
Special pricing offer
Maximum LVR 80%
Broker to waive the first year annual fee
A big 4 bank
3.85%4.16%Credit unionYesYesYes$0 application fee
$299 per annum
A well known Credit Union in Sydney
Maximum LVR 80%

There are definitely better rates out there from 3.44% comparison rate but unfortunately, this does not fit our offset criteria for this post.

And in the current environment mortgage rates are always changing. Every week banks are announcing home loan interest rate updates. It’s hard to keep up. As such the above rates could soon be grandfathered.

A must have for best mortgages

While a market leading competitive home loan rate is a good start there are many other attributes as borrowers you may need to consider before choosing the best home loan.

  • Fees: One quick and easy way to work out the true cost of a loan is to compare the comparison rate. Comparison rate includes the interest rate and most fees and charges relating to your mortgage. Here are  some of the general fees involved with a mortgage:
    • Application fee
    • Annual package fee
    • Valuation fees
    • Exit fees
    • Switching costs: Fees charged by banks for switching from a variable to a fixed rate
  • Features: In a market full of competitors there are plenty and features you could take on to pay off your mortgage quicker:
    • Offset account
    • Redraw facilities
    • Packaged of unpackaged
    • Duration of a loan
  • Application process: Here we meant the paperwork requirements and understanding if you fall within the products lending guidelines. This is crucial since there are so many limitations from a bank’s perspective they’ve applied to their credit policies so that their books are within regulatory constraints.

Cash rate and your home loan rate

How to pick the best home loans?

It’s fairly easy to pick the best home loan if you know what you are looking for and where to find them. Some important questions you should consider:

  • Which loans am I qualified to apply?
  • Is this the right product for me right now and for the foreseeable future?
  • What will the repayments be and is it within my budget?
  • What are the restrictions?
  • Can I maintain my current lifestyle?
  • Fixed or variable?
  • Can I switch?

How can LoanDolphin help?

There is an easy way to be on top of all the changes, the hype, and to cut through the noise. By getting bankers and mortgage brokers to compete for your home loan in a loan auction platform like LoanDolphin will help you find the right home loan with ease. Which means you do less work to get the best outcome.

Get banks and brokers to compete now

Get started now

LoanDolphin is a home loan bidding marketplace where you get banks and mortgage brokers competing for your loan in just a few minutes. For free!