Bankwest

In Australia, people usually call them home loans, and the “best” lender really depends on whether you want a cheap rate, a branch, good offset flexibility, or an easy online refinance.

Here are the lenders Australians actually use most, broken down by what they’re good at.

The Big 4 banks

If you want security, branches, and packaged products, these are the top choices:

• Commonwealth Bank (CBA) – Australia’s biggest home lender by far. People use it for the rock-solid app, branch network, and if they already bank with CommBank. Rates are usually not the cheapest, but it’s the most popular.
• Westpac – Another big player. Popular for flexible packages, including good offset accounts and the ability to split loans. Often has refinance cashback offers.
• NAB – Known for being a bit more aggressive on pricing than CBA/Westpac, especially for refinancers. Also has a simple online application and broker channel.
• ANZ – Similar to the others. People use it if they want straightforward banking, and ANZ often runs fixed-rate specials or cashback deals.

If you want a big lender but with slightly better rates, consider their subsidiaries:

• Bankwest (owned by CBA) – Often has lower rates than CBA with similar backing.
• St George / BankSA / BOM (owned by Westpac) – Popular for sharper rates and decent service.

Other trusted mainstream lenders

• Macquarie Bank – Huge in Australia, particularly for refinancers and property investors. People consistently rate it highly for customer service and its digital app. Rates are competitive and it offers excellent offset accounts.
• ING – Australians know ING for everyday banking, but it also offers competitive home loans. No bank branches, but a very good online experience and low rates.
• ubank – Online retail bank owned by NAB. Gaining popularity for cheap variable rates with no ongoing fees. Good if you’re happy to manage everything digitally.

Best for low-cost online loans

If you don’t need a branch and just want a low rate, these are heavily used by refinancers:

• Athena Homeloans – Pure online, no branches, no ongoing fees. Designed to automatically reduce your rate as you pay down the loan. Very popular for refinancing.
• loans.com.au – One of Australia’s most established online non-bank lenders. Often has some of the lowest advertised rates.
• Reduce Home Loans – Also competitive but service can be more basic.

"Actually use" vs "best" reality

According to market share, the majority of Australian home loans are still with the Big 4 — especially CBA and Westpac. But many of the best customer satisfaction ratings go to Macquarie and Athena, and the sharpest rates often come from online/non-bank lenders.

My recommendation for most Australians:

• You want a branch + bank with everything → CBA or Westpac
• You want low rate + top service + no branches → Macquarie or Athena
• You want a reliable, competitive online option backed by a big bank → ubank or ING
• You’re refinancing for cashback → check current offers from NAB, Westpac, ANZ and St George

Always look at the comparison rate, the ongoing fees, and whether the loan has a 100% offset account if you want one. The best move for most people is to talk to a good mortgage broker — this is Australia, and brokers are free to use for most borrowers.

Australia’s top mortgage lenders combine competitive rates, digital convenience, and specialised services for different borrower types, with Commonwealth Bank, Macquarie, Westpac, NAB, and ANZ consistently ranking among the most popular and reliable options.

Top Australian Mortgage Lenders in 2025–2026

1. Commonwealth Bank of Australia (CBA) – Best for first-home buyers and tech-savvy borrowers. CBA offers a fast digital application, quick conditional approvals, a smooth app experience, and competitive rates for borrowers with deposits of 20% or more. The bank’s “Rate Lock” feature secures your rate for up to 90 days during property searches.

2. Macquarie Bank – Best for property investors and self-employed borrowers. Known for off-set accounts and investment loan packages, Macquarie supports borrowers with complex income, has minimal ongoing fees, and provides efficient settlement options.

3. Westpac Bank – Ideal for families and upgraders. Westpac provides family discount packages, refinance cashback offers, and flexible lending criteria, including the Family Pledge scheme to help children enter the property market.

4. National Australia Bank (NAB) – Great for professionals and high-income earners. NAB offers professional packages, strong fixed-rate options, and construction loans, with special benefits such as waiving LMI for certain professionals even with a 10% deposit.

5. ANZ Bank – Strong choice for refinancers and multi-property investors. ANZ provides market-leading refinance incentives, investment options, and multi-property discount structures, with improved digital application processes.

6. Bank of Queensland (BoQ) – Best for personalised service and regional property buyers, offering competitive rates and flexible underwriting for borderline applications.

7. Suncorp Bank – Focused on Queensland property buyers; offers bundling discounts and local expertise, making it attractive in storm-prone areas.

8. Bendigo Bank – Recognised for community focus and customer service, suitable for first-home buyers or unique properties.

9. AMP Bank – Good for SMSF lending and wealth integration, targeting investor clients looking to connect mortgages with broader financial strategies.

10. Bankwest – Ideal for low-deposit borrowers, offering competitive rates and support for first-time buyers with minimal fees.

Non-bank Lenders Worth Considering

Athena – Fast refinancing with no fees. Nano – Digital-first lender with quick approvals. Pepper Money – Supports credit-impaired borrowers. Liberty – Designed for self-employed borrowers with irregular income. OwnHome & Up Bank – Target first-home buyers and millennials, with competitive rates.

Leveraging Mortgage Brokerages

Australia's leading mortgage brokerages, such as Rethink Financing, Freedom Investment Lending, and Focus Finance, can help you access lenders and deals not publicly advertised. They match borrowers to lenders based on personal financial situations, including investment goals, property type, and income complexity, often saving clients significant time and money Mortgage Professional America.

Choosing the Right Lender

When selecting a lender, consider:

Your borrower profile: First-time buyer, investor, self-employed, etc. Property type: Apartment, house, regional or unique construction. Loan features: Offset accounts, redraw, fixed rates, refinancing options. Digital convenience and branch access: For ongoing management. Long-term flexibility: Ability to manage renovations, additional properties, or cash flow changes.

By combining insights on top lenders and brokerages, borrowers in Australia can choose the mortgage product that best fits their needs, whether purchasing a primary residence, investment property, or refinancing an existing loan.

Australia's mortgage market is dominated by the Big Four banks (Commonwealth Bank, Westpac, NAB, and ANZ), which hold roughly 75–80% of total home loans, alongside surging competition from Macquarie Bank and digital-first alternatives.

📊 The Major Powerhouses ("The Big Four")

The major banks are the most frequently used lenders in Australia, widely utilized for their extensive branch networks, advanced mobile banking applications, and comprehensive home loan packages.

Commonwealth Bank (CommBank / CBA): Holds the largest single market share (around 25%). Widely used by first-home buyers and tech-focused borrowers due to the CommBank app and streamlined integration with government schemes. Westpac: One of the oldest institutions in the country, operating alongside subsidiary brands like St.George, BankSA, and Bank of Melbourne. Popular among family upgraders. National Australia Bank (NAB): Features robust residential and investment mortgage products, and owns the digital offshoot Ubank. Often favored by high-income earners and professionals using packaged loans. ANZ: A major choice for property portfolio builders and refinancers. It also incorporates Suncorp Bank following recent acquisitions.

📈 The Fastest-Growing Challenger: Macquarie Bank

Macquarie Bank: While traditionally an investment bank, Macquarie has rapidly expanded to become Australia's fifth-largest household lender. It commands massive popularity through mortgage broker channels (over 90% of its loans are broker-originated), specifically winning over property investors and self-employed borrowers with sharp interest rates and rapid approval turnaround times.

💡 Digital-First & Non-Major Competitors

For borrowers prioritizing lower variable interest rates, fewer ongoing monthly fees, and completely online application flows, several second-tier and digital banks stand out:

ING Australia: Frequently wins consumer and industry awards for owner-occupier loans (such as the ING Mortgage Simplifier). Ubank: NAB’s digital bank alternative, heavily utilized by tech-savvy refinancers looking for low-friction, fast online setups. Unloan: A digital home loan platform backed by CommBank that rewards long-term customers with an automatic discount applied to their interest rate every year. Bankwest: Originally a Western Australian institution (and now part of the CBA group), widely praised by brokers for alternative income verification and self-employed lending policies.

🗒 How Australians Actually Choose a Lender

Because comparing dozens of lenders and hundreds of variations can be time-consuming, over 70% of new home loans in Australia are written via mortgage brokers (using major networks like Mortgage Choice or Aussie Home Loans). Borrowers typically look at:

Comparison Rates: Factoring in upfront/ongoing fees alongside headline interest rates. Offset Accounts & Redraw Facilities: Essential features for minimizing daily interest charges. Lending Policies: How strictly a lender assesses borrowing capacity, particularly for PAYG vs. self-employed applicants.

To help narrow down which lender or specific product fits your scenario, let me know:

Are you buying as an owner-occupier or an investor? What deposit size or LVR (Loan-to-Value Ratio) are you aiming for? Do you prefer dealing with a major bank, a digital lender, or through a mortgage broker?