An online business passes on the cost savings to its customers through exceptionally low interest rates
Melbourne-based Freedom Lend is a 100% online lender, which means it doesn’t have the overheads of a bricks and mortar bank and so can pass the savings, through lower interest rates, onto its customers. “Freedom Lend gained top spot as the non-bank home loan lender of the year thanks to their exceptionally priced variable home loan,” says Canstar analyst Jack Smart. “The rate for residential variable loans comes in well below the market average by 0.96%.” This category focuses on owner-occupied loans.
“While Freedom Lend has one of the cheapest rates in the market, their variable home loan offers a wealth of functionality and flexibility – from redraw and top-up facilities to a 100% offset account. Additional repayments are permitted and the loan is available to use for construction purposes.”
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