Navigating the Australian mortgage landscape feels like trying to find your way through a labyrinth blindfolded. With interest rates shifting, lending policies constantly changing, and endless jargon to decode, how do you know which lender will actually give you the best deal?
As mortgage brokers who've seen it all, we've cut through the noise to bring you the definitive ranking of Australia's top mortgage lenders in 2025. No fluff, just facts.
Why trust our lender rankings?
Unlike bank-sponsored "best of" lists, our rankings are based on our experience and real borrower outcomes. We've analysed:
- Actual interest rates secured (not just advertised rates)
- Approval speed and efficiency
- Lending policy flexibility
- Customer service quality
- Digital application experience
- Fee structures
- Post-settlement support
Let's dive into Australia's mortgage lending powerhouses and what makes each one worth considering for your home loan.
Australia's Top Mortgage Lenders in 2025
1. Commonwealth Bank of Australia (CBA)
Best for: First-home buyers and tech-savvy borrowers
CBA remains Australia's mortgage giant for good reason. Their digital home loan process is the smoothest in the business, with conditional approval possible in as little as 15 minutes for straightforward applications.
Pros:
- Industry-leading app experience
- Competitive rates for borrowers with 20%+ deposits
- Exceptional first home buyer support programs
- Quick turnaround times
Cons:
- Less competitive for investors
- Higher fees than some competitors
Insider tip: CBA's "Rate Lock" feature is worth every penny in a rising rate environment, protecting your rate for up to 90 days while you find your perfect property.
2. Macquarie Bank
Best for: Property investors and self-employed borrowers
Macquarie has transformed from niche lender to mainstream powerhouse, particularly excelling with complex income structures and investment lending.
Pros:
- Superior offset account functionality
- Excellent for self-employed applicants
- Strong investment loan packages
- Minimal ongoing fees
- Straightforward settlement experience
Cons:
- Less competitive for basic owner-occupier loans
- Smaller branch network
Insider tip: Macquarie's offset structure allows multiple offset accounts against one loan – perfect for budgeting or managing investment properties.
3. Westpac Bank
Best for: Family-focused borrowers and upgraders
Australia's oldest bank has modernised its mortgage offering with family-friendly features that particularly benefit upgraders and those with dependents.
Pros:
- Market-leading family discount packages
- Strong refinance cashback offers
- Competitive fixed rates
- Flexible lending criteria for upgraders
Cons:
- Slower approval times than CBA
- Less competitive for basic variable loans
Insider tip: Westpac's Family Pledge option remains one of the best ways for parents to help children enter the market without directly gifting funds.
4. NAB
Best for: Professionals and high-income earners
NAB's professional package loans continue to offer excellent value for borrowers with strong incomes, particularly in specialised professions.
Pros:
- Excellent professional packages
- Strong fixed rate options
- Competitive cashback offers
- Good construction loan options
Cons:
- Less flexible on policy exceptions
- Higher income requirements for best rates
Insider tip: NAB's professional package waives LMI for certain professions even with just a 10% deposit – potentially saving eligible borrowers thousands.
5. ANZ
Best for: Refinancers and property portfolio builders
ANZ has stepped up its game for refinancers in 2025, with competitive rates and one of the most generous cashback offers in the market.
Pros:
- Market-leading refinance incentives
- Strong investor options
- Good discount structure for multiple properties
- Improved digital application
Cons:
- Stricter serviceability calculations
- Less competitive for first-time buyers
Insider tip: ANZ's multi-property discount structure can save serious money for investors building a portfolio – discounts increase with each additional financed property.
6. Bank of Queensland
Best for: Personalised service and regional property buyers
BoQ combines competitive rates with a relationship-based approach that many larger banks have abandoned.
Pros:
- Excellent personalised service
- Strong regional property expertise
- Competitive owner-occupier rates
- More flexible on borderline applications
Cons:
- Smaller branch network
- Less advanced digital tools
Insider tip: BoQ often approves properties in regional areas that major banks might decline – invaluable for rural or small-town purchases.
7. Suncorp Bank
Best for: Queensland property buyers and package benefits
Suncorp's home state advantage gives Queensland buyers access to unique benefits and local market expertise.
Pros:
- Excellent Queensland-specific packages
- Strong disaster support programs
- Good bundle discounts with insurance
- Competitive fixed rates
Cons:
- Less competitive outside Queensland
- Limited branch presence in southern states
Insider tip: Bundling home insurance with your Suncorp mortgage can unlock meaningful rate discounts – especially valuable in storm and flood-prone areas.
8. Bendigo Bank
Best for: Community focus and customer service
Bendigo continues to win customer satisfaction awards thanks to its community-focused approach and excellent service standards.
Pros:
- Superior customer service
- Community-focused banking
- Competitive first home buyer options
- Flexible lending for unique properties
Cons:
- Rates slightly higher than big four
- Slower digital capabilities
Insider tip: Bendigo often approves non-standard construction types that major banks reject – perfect for alternative building methods or unique homes.
9. AMP Bank
Best for: Wealth integration and SMSF lending
AMP's strength lies in connecting mortgage lending with broader wealth management, particularly for self-managed super fund property investments.
Pros:
- Excellent SMSF lending options
- Good wealth integration benefits
- Competitive investor rates
- Flexible income assessment
Cons:
- Limited branch presence
- Less competitive for basic home loans
Insider tip: AMP offers discounted rates when bundling wealth products – worth exploring for borrowers also looking to optimise investments.
10. Bankwest
Best for: Low-deposit borrowers and competitive rates
Rounding out our top 10 is Bankwest, particularly strong for borrowers with smaller deposits looking for competitive rates.
Pros:
- Excellent low-deposit options
- Competitive variable rates
- Good first home buyer support
- Minimal ongoing fees
Cons:
- Limited eastern states presence
- Less flexible for non-standard income
Insider tip: Bankwest's 95% LVR loans often have lower rates than competitors' equivalent products – worth comparing if you're struggling to save a 20% deposit.
Beyond the big banks: non-bank lenders worth considering
While traditional banks dominate our top 10, several non-bank lenders deserve honorable mentions for specific borrower types:
- Athena: For refinancers seeking quick rate-drops and no fees
- Nano: For digital-first borrowers who want lightning-fast approval
- Liberty: For self-employed borrowers with complex income structures
- Pepper Money: For credit-impaired borrowers rebuilding their financial profile
- OwnHome: For first home buyers who don’t yet have a full deposit
- Up Bank: Millennials love the brand and they have sharp rates to boot
How to choose the right lender for your situation
Finding your ideal mortgage match isn't just about who has the lowest advertised rate. Consider:
- Your borrower profile: Different lenders favor different borrower types – first-home buyers, investors, self-employed, etc.
- Property type: Some lenders restrict lending for apartments, rural properties, or non-standard construction
- Loan features needed: Offset accounts, redraw facilities, and fixed-rate options vary significantly between lenders
- Future plans: Will you need flexibility for renovations, additional properties, or family changes?
- Service preferences: Do you value digital convenience, branch access, or relationship banking?
Why use a mortgage broker instead of going direct
The days when lenders offered their best rates to walk-in customers are long gone. In today's complex mortgage market:
- We have access to rates and offers not advertised to the public
- We can match your specific situation to the most suitable lender
- We handle paperwork and follow-up, saving you dozens of hours
- We negotiate on your behalf, leveraging our relationships with lenders
- Our service costs you nothing in most cases (we're paid by the lender)
Next steps: find your perfect mortgage match
Ready to find the ideal lender for your home loan? Book a free, no-obligation consultation with our team. We'll analyse your specific situation and match you with the perfect lender from our extensive panel – not just the top 10.
