The Finder Awards recognises the best financial products in the Australian market each year. For the 2024 Finder Home Loan Awards, their team of loan experts and data analysts examined over 3,000 home loans.

This year, G&C Mutual Bank’s Momentum Home Loan (Investor, IO) won the award for Best Investor Interest-only Variable Home Loan.

To judge this award category, Finder's data analysts selected all the loans in their database that met 3 basic criteria:

  • The loan must be for property investors, not homebuyers.
  • The loan must have variable repayments (so no fixed rate loans).
  • The loan must have interest-only repayments.

The ability to make interest-only repayments is an important feature many Australian property investors value. The interest paid on a mortgage may be a tax-deductible expense for some property investors (the humble homeowner is not so lucky). This allows investors to reduce their overall income tax and may be a common strategy for property investors.

While variable rate interest-only investment loans are a very specific type of home loan, the same basic principles apply when judging how a loan compares to others in the market. Finder scored every loan in this award category based on these criteria:

  • The interest rate. The lower the rate, the higher the score.
  • The cost of fees. Finder examined the total cost of several fees including settlement, application, legal and valuation fees. The lower the fees, the higher the score.
  • Offset account. Loans with offset accounts gained a small bonus to their overall score.

Time is a factor for both the interest rate and fee components of Finder’s scoring methodology. Home loan rates and fees are always changing. Rather than judging home loans based on a single moment in time, Finder examines this data across the last 12 months. This ensures that a home loan is a good deal all of the time, rather than simply because of a temporarily low interest rate.

This year, G&C Mutual Banks's Momentum Home Loan (Investor, IO) won the interest-only variable investor home loan award because of its consistently low interest rate, low fees and because it comes with a 100% offset account.

As a mutual bank owned by our members, we’re a values-driven organisation where member interests are not in conflict with shareholder interests. We strive to deliver quality products to our members. To ensure that G&C Mutual Bank’s products remain market competitive, we routinely submit our range of products for independent assessment and peer benchmarking. Our numerous awards confirm our ongoing commitment to providing products that offer great value for our members.

About the Finder Home Loan Awards

Finder's Home Loan Awards recognise market-leading home loans, with a ratings methodology that analyses the rates, fees, and if the loan has an offset account or not, if it was a variable interest rate loan. In 2024, Finder’s team of experts reviewed over 3,000 home loan products from across 200+ lenders to select the Finder Home Loan Awards winners.