Australia
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Australian Home Loan Interest Rates
| Provider | Rate | Type | ||
|---|---|---|---|---|
 |
Macquarie Bank Variable Rate Home Loan Rate below is calculated for a loan amount of $150,000 over the period of 25 years. Owner Occupier +Follow |
3.09% APR 3.09% |
- | Apply Dec 2019 |
 |
UBank Variable Rate Home Loan Rate indicated is applicable to the UHomeLoan (base rate) product. +Follow |
3.09% APR 3.09% |
- | Apply Aug 2019 |
 |
Bankwest Complete Variable Home Loan For further information, please visit the Bankwest website. Rate is applicable to the product 'complete variable home loan' +Follow |
3.19% APR 4.04% |
- | Apply Sep 2019 |
 |
Bendigo Bank Standard Variable Home Loan This rate is applicable to loan amounts greater than $500,000. For further information, please visit the Bendigo Bank website. Rate is applicable to the product 'Residential Variable Home Loan'. +Follow |
3.24% APR 3.43% |
- | Apply Jan 2020 |
 |
HSBC Australia Variable Rate Home Loan
Rate indicated is applicable to HSBC Variable Home Loan Rate. Please refer to the HSBC bank website for full details. |
3.27% APR 3.71% |
- | Apply Sep 2019 |
 |
Bank Australia Basic Home Loan The rate for the comparison rate is based on a loan of $150,000 for 25 years. The rate indicated is for owner occupier purposes but can be used for investment but other rates may apply. +Follow |
3.35% APR 3.36% |
- | Apply Aug 2019 |
 |
CBA 3 Year Fixed Rate Home Loan OO Rate indicated is the fixed Interest Rate based on the 'Standard Fixed Rate' product for a term of 3 years. The rate is for 'Fixed Rates with Wealth Package (owner occupied)' +Follow |
3.43% APR 4.68% |
Fixed | Apply Aug 2019 |
 |
Suncorp Bank Variable Rate Home Loan Rate indicated is Suncorp Bank's standard variable rate. Please refer to the Suncorp Bank website for full details. +Follow |
3.59% APR 3.99% |
- | Apply Aug 2019 |
 |
NAB Base Variable Rate Home Loan Interest Only Rate is available for or owner occupied and investment home loans and is made from the NAB Base Variable Rate Home Loan Rate minus the product margin applied during the Interest Only period. +Follow |
3.85% APR 3.89% |
Interest Only Home Loan | Apply Aug 2019 |
 |
ING Direct Variable Rate Home Loan
Rate indicated is applicable to the Orange Advantage Home Loan
product. Please refer to the ING Direct bank website for full details. |
3.93% APR 4.25% |
- | Apply Mar 2019 |
Home Loan requirements from providers
In Australia, since 1 January 2012, all lenders who would offer standard home loans will need to provide a key facts sheet when a borrower asks them. These fact sheets will be in a standard format so you can compare against other home loans from other providers. Facts will include loan amounts and terms, interest rates, comparison rate(also known as APR internationally), the amount to be paid back including fees and any establishment fees.
Home Loan Deposit and Mortgage Insurance
When obtaining a mortgage loan in Australia, it is recommended that the borrower has at least a 20% deposit. If the borrower was to borrow more than 80% of the purchase price of a property they may be subject to lenders mortgage insurance (LMI) which insures the lender against default from the borrower. The added LMI fee from a lender could be many thousands of dollars that could be added to the home loan.
Domination of mortgage market share by big banks
The Australian big banks had the largest market share for mortgages in Australia with the largest 4, Commonwealth Bank,Westpac, National Bank of Australia and ANZ having share combined over 80% according to KPMG (kpmg.com.au)
