Quick Summary
Founded
2014
Owned by:
Privately held
Funded by:
Perpetual Corporate Trust Limited
LMI Provider:
Helia (formerly Genworth)
Lender type:
Non Banks, Online Lender
A non-bank lender, Freedom Lend considers its strength to be its status as a 100% local, Australian-owned home loan service provider.
Using its online-only presence to its advantage, it saves on overheads and passes on super competitive interest rates to its customers.
Freedom Lend is paid by its underwritten lenders for finding homebuyers like you. Thanks to that, chances are you don’t have to pay for its service in most cases– except for costs like legal charges and discharge fees.
Freedom Lend is not an available lender on our panel. This is a review only.
How Do Freedom Lend’s Home Loans Compare?
Pros
- Competitive interest rates
- Flexible loan and payment options
- >Allows low-deposit home loans
- Considers applications with credit default
- No-fee home loans (except for government and legal fees)
- 100% free offset account available on variable loans
- Allows up to 95% LVR for fixed and variable loans
- Extra repayments available
- Free redraw facility on variable loans
Cons
- High exit fees for some loans
- Limited home loan options
- No schemes for first home buyers
- Only offers owner-occupier and investment home loans
- Limited branch access
- Difficult for low-doc applicants to get approved
- High construction loan fees
- High discharge fees when refinancing with another lender
If you need further assistance in deciding if Freedom Lend is an ideal fit for your situation, our Experts can help! Give us a call on 1300 889 743 or fill the enquiry form.
What Home Loan Types Does Freedom Lend Have?
With its online-only presence, Freedom Lend is an easy pick for homebuyers looking to avoid the hassle of a lengthy process.
The non-bank lender has options for owner-occupied and investor loans, with both principal-and-interest and interest-only repayment options.
Known for offering significantly lower costs than the big banks, Freedom Lend specialises in four major home loan service types.
Variable Home Loan
1.84% variable rate p.a. | 1.86%* comparison rate p.a.
- Low interest rates
- Purchase & refinance
- Product split available
- 100% offset facility
- Flexible payment options
- Allows up to 95% LVR
Fixed Home Loan
1.84% variable rate p.a. | 1.86%* comparison rate p.a.
- Rate lock-in facility
- Flexible payment options
- Up to 95% LVR
- Purchase and refinance
- Extra repayments
Construction Home Loan
2.24% variable rate p.a. | 2.29%* comparison rate p.a.
- Principal and interest repayment
- Up to four product splits at no extra cost
- Full redraw facility
- Flexible payment options
- Up to 90% LVR
SMSF (Self-Managed Super Fund) Home Loan
3.39% variable rate p.a. | 3.96%* comparison rate p.a.
- Purchase and refinance
- Product split available
- 100% offset facility
- Flexible payment options
- Up to 75% LVR
Comparing Freedom Lend With Other Lenders
Unsure which lender is an ideal fit for your home loan situation?
Our mortgage brokers will assess your situation to recommend a couple of suitable lender options for you.
Give us a call on 1300 889 743 or fill in our free online enquiry form.
Find out if you are qualified to apply with this lender
GET A FREE ASSESSMENTTips For Applying With Freedom Lend
- Proof of identity (read here to see what qualifies).
- Income statement, including last two months’ payslips or last two years’ tax returns (for self-employed borrowers).
- Three months’ savings history, credit-card statements and bank account statements.