Hot Home Loan Deals for July

Hey everyone, I’m Brooke, and each month I analyse trends in the Australian home loan market to bring you a selection of competitive mortgage products currently on offer.

After the May RBA rate cut, and with some experts predicting more cuts to come, it might be a good time to check in on your mortgage. Whether you’re perusing the market, contemplating refinancing, or looking to purchase, here are a few standout home loan offers catching my eye in early July.

As always, let’s start with one of the lowest variable rates on the Your Mortgage database – 5.39% p.a., offered by Horizon Bank on its Home Sweet Home Loan product for owner-occupiers.

This discounted rate is available to new-to-bank eligible borrowers with a deposit or equity worth at least 30% of their property’s value, and comes with an offset account.

If you're a first home buyer, Police Bank’s First Home Loan product could be worth inspecting.

It advertises a rate of 5.34% p.a. for those turning to the Home Guarantee Scheme, which could help eligible first home buyers enter the market with a deposit of less than 20% without paying for Lenders Mortgage Insurance.

Finally, more fixed rates below 5% p.a. have hit the market in recent weeks. BankVic and Greater Bank joined the lenders offering rates of 4.98% p.a. and 4.99% p.a. respectively to eligible borrowers looking to fix for two or three years.

Disclaimer: *The Comparison rate is based on a secured loan amount of $150,000 loan over 25 years. WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees together with costs savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products. Other costs such as discretionary or variable fees may not be included in the comparison rate. All fees should be confirmed with the relevant financial institution prior to acquiring the product. This video by Your Mortgage contains general information only and in giving you general product information, Your Mortgage is not making any suggestion or recommendation about any particular product and all market products may not be considered. At times, certain lenders and products may not be available. Your eligibility for the products that we show to you are subject to you satisfying the relevant lender’s requirements, including a credit assessment. If you decide to apply for a credit product listed on Your Mortgage you will deal directly with a credit provider, and not with Your Mortgage. Rates and product information should be confirmed with the relevant credit provider.

For more information, including the remuneration that we receive from lenders, please read Your Mortgage's Financial Services and Credit Guide (FSCG). The information provided constitutes information which is general in nature and has not taken into account your personal objectives,

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