After the RBA reduced rates again, Reduce Home loans has followed suit and dropped their rates. The Low Rider home loan is now available from 2.89% p.a. variable (2.89% Comparison rate), or 2.94% p.a. with offset account.
Features include:
- Up to 80% LVR
- Full redraw facility
- 100% Offset available
See link for full details. Note that it has a $440 application fee, so it may be better to look at their Rate Lovers loan, which has no application fee, but base rate of 2.97% (3.02% with offset account).
They're "ok", but their discharge fees are exorbitant, and they don't pass the savings on to existing customers. Once they've got you locked in they'll slowly increase your rates until they're no more competitive than the big lenders.
I'm with them, but only because it's not worth changing now that the mortgage is mostly paid off. If I had my time over again I'd just go with loans.com.au or something.