2024 Home Loan Refinance Award
Canstar releases its
2024 Home Loan Refinance Awards.
Released: 04 November, 2024
About the Home Loan Refinance Awards
Canstar’s Home Loan Refinance Awards recognise institutions offering outstanding value home loans as well as additional services that benefit property owners in making an informed decision when refinancing their home loan.
Learn more about our Award process in the methodology.

Numbers crunched by Canstar Researchers
- 80 providers assessed
- 1089 products rated
- 3 award-winning providers
Read our methodology →
Compare Home Loan Refinance →
See all Canstar Star Ratings and Award results →

About this year’s awards

Economists from the nation’s big four banks predict that we’ve hit the peak of interest rate rises and will most likely see cuts in early 2025. With these potential cuts on the horizon, many Aussie mortgage-payers may be looking to refinance their home loan in search of better rates. If you’re thinking about refinancing your home loan and looking for a better deal, then Canstar’s Home Loan Refinance Awards might help.
Canstar’s Home Loan Refinance Award uses our unique and sophisticated methodology to find the financial institutions that provide the strongest combination of products and services across the Australian home loan refinance market.
In recognition of the breadth of different home loan options on the market, our Home Loan Refinance Awards encompass four categories – Bank of the Year, Customer-Owned Bank of the Year, Non-Bank Lender of the Year and Digital Lender of the Year.
Congratulations to the Award winners
(Winners are listed alphabetically)
G&C Mutual Bank
Customer-Owned Bank of the Year — Home Loan Refinance
G&C Mutual Bank has picked up the 2024 “Customer Owned Bank of the Year” Award for Home Loan Refinance, primarily driven by low total costs and low interest rates compared to others in the market. Within the variable rates assessed, G&C Mutual Bank’s average interest rate was 0.19% cheaper than the market average for 60% loan to value ratio (LVR) loans and 0.12% for both 70% and 80% LVR loans.
G&C Mutual Bank is a customer-owned banking institution that was established in 1959. Outside of term deposits, G&C Mutual Bank also provides services for transaction accounts, home loans, personal loans and general insurance.
Pacific Mortgage Group
Non-Bank Lender of the Year — Home Loan Refinance
Pacific Mortgage Group has retained its Non-Bank Lender of the Year Award this year. With the top score amongst non-bank lenders, Pacific Mortgage Group has the lowest average interest rate in the non-bank lender market and lowest cost amongst the variable rate loans that were assessed.
Pacific Mortgage Group, established in 2000, is one of Australia’s largest online mortgage providers, known for prioritizing low rates and personalized service.
Up
Bank of the Year – Home Loan Refinance
Digital Lender of the Year – Home Loan Refinance
Up has been awarded both the “Bank of the Year” and “Digital Lender of the Year” Awards for Home Loan Refinance in 2024. With consistently strong performances across all variable and fixed LVR profiles, Up offers a low total cost as well as competitive features. For example, for 60% LVR variable loans, Up’s current variable interest rate is 5.95%, which is 0.18% lower than the market average of 6.13% in the digital lending space at the time of writing. Up also offers no discharge fee, as well as quick turnaround times for discharges.
Up Bank, a 100% mobile bank, began as a partnership between Bendigo Bank and Ferocia. Now officially part of Bendigo and Adelaide Bank Limited, Up Bank provides transaction and saving accounts, as well as home loans.
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About: Josh Sale, Group Manager, Research & Ratings
Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.
As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.
Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.
Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.