Canstar’s 2019 Fixed Rate Home Loan Award winners revealed

Finance Journalist · 3 September 2019

Which institutions won an Award for their fixed rate home loans? Canstar has revealed the three winners for 2019.

Canstar’s Fixed Rate Home Loan Award recognises institutions that provide the strongest combination of fixed rate home loans for owner-occupiers and investors across short, medium and long fixed rate terms. 

The Award involves a sophisticated and unique ratings methodology that compares both cost and features to determine which home loan providers offered the strongest value through their fixed rate products. 

After sifting through products from 85 banks, customer-owned institutions and non-banks, Canstar has announced three Award winners.

Bank of the Year – UBank

Bank of the Year - UBank - Fixed Rate

This is the second year in a row that UBank has won the Bank of the Year Award. Canstar Research noted that UBank continued to stand out when it came to offering competitive fixed rates and led the way for one- and three-year terms offered by banks. 

Customer-Owned Institution of the Year – Greater Bank

Customer Owned Institution - Greater Bank - Fixed Rate

Greater Bank received the Award for Customer-Owned Institution of the Year, largely off the back of its competitive fixed rates. Canstar Research found that Greater Bank offered the lowest fixed rates out of all customer-owned institutions for one-, three- and five-year terms. 

Non-Bank of the Year – Freedom Lend

Fixed Rate Award Winner 2019 Freedom Lend

Freedom Lend has retained the Non-Bank of the Year Award, having also won it in 2018. Canstar Research was particularly impressed by the lender’s five-year term rates. 

For more information about the 2019 Fixed Rate Home Loan Awards and how they are calculated, view the methodology.

Image Source: kan_chana (Shutterstock)

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