For the second year running, The Mutual Bank’s Budget Home Loan* has won a Mozo Experts Choice Home Loan Award in the Low Cost Home Loan award category.

The win follows the news earlier this month that The Mutual Bank’s Budget Home Loan was named one of the best refinance home loans in the market with a 2024 RateCity Gold Award.

The Mozo Experts Choice Awards have been helping consumers make informed purchase decisions for the past 10 years and their extensive award selection process evaluates thousands of products.

For the Low Cost Home Loan category the Mozo judges assessed 270 variable rate loans for owner-occupier borrowers, making principal and interest repayments, and identified these as the lowest cost for several different loan-to-value ratios.

The Mutual Bank’s CEO, Mark Williams, said the double win for the Budget Home Loan was fantastic news for the Hunter-based bank.

“Our commitment to offer competitive products has been recognised with these two awards, and that recognition highlights our commitment to helping people thrive,” he said.

“We know the cost-of-living pressure means people are looking to trim their budgets where they can, and our Budget Home Loan has been consistently popular with home buyers looking for a no-frills home loan with a low, variable interest rate.”

Mozo Experts Choice Awards Judge Peter Marshall said when it comes to choosing a home loan, key factors that people look for are competitive rates, low fees and a lender they can trust.

“The Mutual Bank has demonstrated that it delivers on all three fronts,” he said.

“This is the second year running that the Budget Home Loan has taken out a coveted award in the low cost home loan category, and is to be congratulated on this achievement.

“These awards were designed to showcase the products in the market that deliver best value and The Mutual Bank is a great example of a small member-owned challenger competing with the big guys.”

* The Mozo Experts Choice Low Cost Home Loan award was awarded to The Mutual Bank’s Budget Home Loan Special Variable Rate for owner occupied loans with ≤80% LVR and Principal and Interest repayments. Eligibility and lending criteria, terms, conditions, fees and charges apply and are available on application.