Advertisement

Award Winning Fixed Rate Home Loan Providers In 2017

Looking for a new fixed-rate home loan? Canstar has just released the results of their 2017 Fixed Rate Home Loans Award, and have arrived at three award winning providers.

About the Canstar Fixed Rate Home Loan Award

Canstar’s Fixed Rate Home Loan Award recognises the institutions that provide the strongest combination of fixed rate products across Canstar’s Home Loan Star Ratings.

The Fixed Rate Home Loan Award compares these products across three different consumer profiles:

Each of these profiles takes into account the four different fixed rate terms: 1,2,3 and 5 year-fixed loans. For an institution to be eligible for the Fixed Rate Award, it must meet the following criteria:

  • It must offer Fixed Rate Home Loans
  • These loans must be available for 80% LVR (loan-to-value ratio) or greater
  • The loans must be available to new customers

Click here to read more about our Fixed Rate Award methodology.

Canstar Fixed Rate Home Loan Award Winners in 2017

In this year’s research, there are three winners:

  • Bank of the Year – Fixed Rate Home Loan: Suncorp
  • Customer Owned Institution of the Year – Fixed Rate Home Loan: Greater Bank
  • Non-Bank of the Year – Fixed Rate Home Loan: Freedom Lend

The remainder of this article will give justifications as to why each of these providers won their respective awards. If you’re taking out a fixed rate home loan, then it’s worth considering our award-winning providers.

Bank of the Year – Suncorp Bank

Suncorp Fixed Rate Home Loan Award Winners in 2017

Suncorp is the winner of Canstar’s Bank of the Year Award for Fixed Rate Home Loans. This award is recognition of Suncorp’s competitive offering across all consumer profiles and terms.

Suncorp is one of the largest providers of financial products in Australia, currently holding about $96 billion in assets. Founded all the way back in 1919 as the State Government Insurance Office, the Suncorp Group now employs nearly 14,000 people across Australia and New Zealand, and it owns many trusted brands, such as AAMI, Shannons, APIA and Terri Scheer.

Suncorp Bank’s Home Package Plus home loan has performed well in all profiles. Available for both owner-occupiers and investors, this packaged product has a $375 annual fee and includes a fee waiver for any eligible Suncorp credit card, a waived loan establishment fee, waived monthly account keeping fees on an Everyday Options account and a discounted interest rate.

First Home Buyers are especially looked after, with Suncorp currently offering a life of the loan waiver of the $375 annual fee and an additional rate discount for 5-year terms. For a look at some of the fixed rate home loans currently on offer from Suncorp, check out the table below.

See our comparison table below sorted by the comparision rating (Lowest- Highest), which features a snapshot of Suncorp products with 80% LVR Fixed loans for first home buyer with direct links to the providers website. Please note that this table is formulated based on a loan amount of $550,000 taken out in NSW, repaying both principal and interest.

Non-Bank of the Year – Freedom Lend

Freedom Lend Fixed Rate Home Loan Award Winners in 2017

Freedom Lend is the winner of Canstar’s Non-Bank of the Year Award for Fixed Rate Home Loans. Freedom Lend is an Australian-owned, online-only non-bank lender with staff local to Melbourne. Being 100% online, Freedom Lend is able to provide competitive rates on both fixed and variable home loans by passing on the savings from upfront fees to consumers. You can also expect to reach their support network 24/7 every week of the year.

Related Article: What is a non-bank lender? 

Freedom Lend’s Fixed Home Loan has outperformed other non-bank lenders offering similar products. With features such as the ability to make extra repayments, product splitting and flexible payment options, this product has stood out from rival lenders with its competitive rates for all consumer profiles and terms that have been assessed in this award.

Check out the table below for a look at some of the fixed rate home loans currently on offer from Freedom Lend.

See our comparison table below sorted by the comparision rating (Lowest- Highest), which features a snapshot of Freedom Lend products with 80% LVR Fixed loans for first home buyer with direct links to the providers website. Please note that this table is formulated based on a loan amount of $550,000 taken out in NSW, repaying both principal and interest.

Customer-Owned Institution of the Year – Greater Bank

Customer-Owned Institution of the Year

Greater Bank is the winner of Canstar’s Customer-Owned Institution of the Year Award for Fixed Rate Home Loans. Greater Bank is a customer-owned bank based in New South Wales that was previously known as the Greater Building Society. Greater Bank was founded in 1945, and currently manages over $5 billion assets.

Greater Bank’s Ultimate Package has been the most consistent performer in the customer-owned space. Offering no establishment fee for your home loan, a fee-free everyday banking account and waived annual credit card fees, this package has competitive rates for owner-occupiers and investors alike and is available for all terms considered in this award.

Check out the table below for a look at some of the fixed rate home loans currently on offer from Greater Bank.

See our comparison table below sorted by the comparision rating (Lowest- Highest), which features a snapshot of Greater Bank products with 80% LVR Fixed loans for first home buyer with direct links to the providers website. Please note that this table is formulated based on a loan amount of $550,000 taken out in NSW, repaying both principal and interest.

Compare Mutual Banks

This completes our wrap up of the three award-winning providers of fixed rate home loans in 2017. For more information on home loans and the products on the market, visit Canstar’s home loans page:

Compare Fixed Home Loans with Canstar

Share this article