New lender OneTwo rewards customers with ongoing discounts on home loans

By Maria Gil · · 2 min read
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OneTwo is one of the newest lenders in the country and is on a mission to reward borrowers for their loyalty. The lender has launched its own automatic rate-reducing home loan , where you receive discounts the more you pay off your mortgage.

It’s an approach that helps OneTwo stand out from the crowd.

“We are hell-bent on doing something different in the market,” said OneTwo’s chief marketing officer, Liz McCarthy.

While a loyalty discount is one aspect of OneTwo’s offering, it also has a focus on customers. The company says it wants to make the process of applying for a home loan as easy as ‘one-two’ by starting a conversation rather than an application. To help with this, customers use interactive video where they can get help from the OneTwo customer service team face to face.

While OneTwo is not the first Australian lender to try to make home loans easier, it is one of the few lenders rewarding their customers for paying off their loans.

Related: homeloans.com.au rewarding customers with home loan rate drops

Let’s have a look at its Rate Reducing loan in more detail.

How does OneTwo compare to other home loans?

For starters, the OneTwo Rate Reducing Variable Rate Home Loan has variable rates starting from 1.99% p.a. (1.89% p.a. comparison rate*), putting it 113 basis points below the 3.12% variable rate average in Mozo’s database. It is also among the lowest variable home loans available in our database.

If you pay off 25% of your original loan amount then you could end up with a 0.15% discount on your interest rate. Putting it 128 basis points below the variable rate average in Mozo’s database.

Currently, OneTwo home loans are only open to owner occupier refinancers, but it says that it has plans to offer more home loan products very soon.

To find out more about OneTwo’s refinancing offer, including all the features and rates involved, read our Rate Reducing Variable Rate Home Loan review.

Otherwise see how OneTwo stacks up against some other great offers for refinancing in the table below, or check out Mozo’s refinance home loan comparison hub.