Reduce Home Loans

The best mortgage lenders in Australia are usually not just the cheapest on headline rate—they’re the lenders people actually use because they combine competitive rates, decent features, and reliable service. For most borrowers, the standout names in current comparison and awards pages are Macquarie Bank, ING, CBA, Westpac, NAB, and several strong non-bank lenders like Unloan and Athena.

If you want the most practical shortlist, these are the top brands/products people commonly choose:

• Macquarie Bank Offset Home Loan Package — often rated among the best overall for offset features, app experience, and investor/refinancer appeal.
• ING Orange Advantage / ING home loans — commonly praised for customer satisfaction and broad mainstream appeal.
• CBA home loans — one of the most used lenders in Australia and frequently recommended for first-home buyers and borrowers who want a major-bank option.
• Westpac Flexi First Option — often competitive among the big four, with strong features like offsets and a solid mainstream presence.
• NAB home loans — a common pick for borrowers who want a big bank, and often noted for self-employed/business-friendly lending.
• Unloan Variable Home Loan — a popular low-cost digital option, especially for refinancers and borrowers focused on redraw and simplicity.
• Athena Home Loans — a well-known non-bank challenger with a reputation for competitive pricing and low ongoing fees.

For different borrower types, the best fit usually looks like this:

• First-home buyers: CBA or Bendigo Bank are often highlighted for first-home buyer support and scheme participation.
• Refinancing: Unloan and Macquarie are frequently recommended.
• Offset account users: Macquarie and Westpac are commonly strong choices.
• Self-employed borrowers: NAB and Liberty Financial are often better fits than the big “lowest-rate” lenders.
• Lowest-rate shoppers: Non-bank lenders such as Reduce Home Loans, Pacific Mortgage Group, and other challenger lenders often show the sharpest advertised rates, but features and eligibility can be more limited.

A useful rule of thumb in Australia is that the big four banks are not usually the cheapest on rate, but they remain among the most used because of brand familiarity, branch access, and broader lending flexibility. At the same time, comparison sites and awards show that Macquarie, ING, Unloan, and Athena are often where value-conscious borrowers end up in 2026.

If you want, I can narrow this down to the best 5 lenders for your exact situation—for example first home buyer, refinancing, investor, self-employed, or low deposit.

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.