Top 5 Home Loan Rates — October 2020
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Top 5 Home Loan Rates — October 2020

Suzi O'Shea

Suzi O'Shea

26/03/2021 • 7 minute read

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The top home loan rates for Oct 2020

At the peak of the pandemic, it’s not surprising that the demand for real estate slumped dramatically. If you can’t leave your house, chances are, you’re probably not going to be in the market for another one.

Some big things have happened in the past couple of weeks though, the 2020-21 Federal Budget was released, restrictions have eased, and consumer confidence has increased. Altogether, these events are playing a role in the changing trends we’re seeing in real estate.

Cameron Kusher of REA Insights said, “Since the recent low related to COVID-19, serious buyer activity has more than doubled in most states and territories.”

Not only is the market picking up again, but home loan lenders are offering more competitive, lucrative rates that are too good to pass up. So, if you’ve been waiting to search for your forever home, now is the time to go house hunting again!

We’ve scoured the marketplace and compiled a list of the top rates currently available to help you narrow down your search for the right lender.

Top 5 home loan rates for October 2020:

tic toc

HOT DEAL!

Hot deal!
2.19%
Advertised rate p.a
2.20%
Comparison rate p.a

More details

HOT DEAL!

No upfront fees

HOT DEAL!

No ongoing fees

HOT DEAL!

Australian-based staff

Great news for customers, this hot rate is available with a 10% deposit and an optional offset account. All this, plus a fully digital application process, expert Australian-based staff available on phone, email and chat, and it’s backed and funded by Bendigo and Adelaide Bank.

more information +
less information –

Homestar – Star Essentials

2.32%
Advertised rate p.a
2.29%
Comparison rate p.a
No Link

Homestar Finance has been a home loan lender since 2004 and in that time it has lent millions of dollars to thousands of Australians.

more information +
less information –

Athena – Liberate

2.38%
Advertised rate p.a
2.44%
Comparison rate p.a
Refer to lender

Athena is radically changing mortgages so you own your home sooner. Athena can get you a better home loan, and help you get rid of it!

more information +
less information –

UBank – Discount Offer

2.49%
Advertised rate p.a
2.49%
Comparison rate p.a
Refer to lender

UBank is an Australian direct bank, that operates as a division of National Australia Bank. It was established in 2008, and provides savings products and home loans over the Internet and telephone.

more information +
less information –
bank gateway
2.56%
Advertised rate p.a
2.59%
Comparison rate p.a

More details

Gateway Bank.

more information +
less information –

Provider
Advertised rate p.a.
Comparison rate p.a.
Application Link

HOT DEAL!

Hot deal!
2.19%
2.20%
More details

 

Great news for customers, this hot rate is available with a 10% deposit and an optional offset account. All this, plus a fully digital application process, expert Australian-based staff available on phone, email and chat, and it’s backed and funded by Bendigo and Adelaide Bank.

more information +
less information –

HOT DEAL!

No upfront fees

HOT DEAL!

No ongoing fees

HOT DEAL!

Australian-based staff

Homestar – Star Essentials
2.29%
2.32%
Refer to lender

Homestar Finance has been a home loan lender since 2004 and in that time it has lent millions of dollars to thousands of Australians.

more information +
less information –
Athena – Liberate
2.44%
2.38%
Refer to lender

Athena is radically changing mortgages so you own your home sooner. Athena can get you a better home loan, and help you get rid of it!

more information +
less information –
UBank – Discount Offer
2.49%
2.49%
Refer to lender

UBank is an Australian direct bank, that operates as a division of National Australia Bank. It was established in 2008, and provides savings products and home loans over the Internet and telephone.

more information +
less information –

2.56%
2.59%
More details

 

UBank is an Australian direct bank, that operates as a division of National Australia Bank. It was established in 2008, and provides savings products and home loans over the Internet and telephone.

more information +
less information –

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. All loans are subject to assessment and lending rules. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. This list has been compiled through our own research as of October 2020. For more information on other providers listed, please refer to their website. 


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Suzi O'Shea

Written by Suzi O'Shea

Suzi O'Shea is a contributing writer for Oiyo. She has a Bachelor of Arts, Communications with honours from Southern Cross University. Suzi has worked in media for over 15 years and has been published in several online publications as well as print magazines. She has worked as a freelance writer, speaker, and change management facilitator.

More about Suzi O'Shea