Heritage Bank wins at 2015 Mozo Experts Choice Awards

Heritage Bank has been recognised for providing some of the best value home loan products in the country at the 2015 Mozo Experts Choice Awards.

Mozo this week announced Heritage’s Discount Variable Home Loan as a winner for Best Value First Home Loan and Best Value Variable Loan. The winning special rate home loan featured a variable rate of 4.19% and comparison rate of 4.24%^.

Heritage Bank CEO John Minz said, “The Mozo Experts Choice Awards are designed to find the best value financial products available to Australians right now.

“As a customer-owned bank, we put people first, not profits so to know that our product has been chosen as among the best value for our customers is extremely satisfying,” Mr Minz said.

“Our focus is to continually meet the needs of our customers by providing the best service, value and overall banking experience possible and these awards are further confirmation that we are achieving that.

The Mozo Experts Choice Awards are an initiative from comparison website Mozo.com.au to recognise Australia’s best value financial products and help Australians save money by choosing better products. Winners are determined through a comparison of rates, fees and features of products from lenders across Australia.

^ The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The rates and fees used to calculate the awards were confirmed as correct between 30th March and 9th April 2015. Some rates and fees may have changed.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.