OneTwo Home Loans Review |

Easy as OneTwo three? Learn more about OneTwo home loans and see how their loans compare.

Since launching onto the home loan scene just two months ago, OneTwo Home Loans is already shaking up the home loan space. The new lender is offering a home loan, which it says is the first of its kind – the low-interest home loan.

Yes, that’s exactly what it sounds like. This innovative new home loan product automatically lowers your interest rate as you repay your home loan.

According to the OneTwo website, you could see up to 0.15% off your rate when you pay off your loan. With no fees, up to $2,500 in bonuses and a $5,000 cashback currently on offer, is this a new online lender to watch?

To learn more about this new lender, we spoke to OneTwo Home Loans CEO Derek Sheerin about how the company started, how its product works and more.

It all started in sync with the pandemic: good timing?

OneTwo first appeared in early 2020, just as we were all entering the first COVID lockdown.

“After just a few short weeks together in the office, we were all home, working and homeschooling, while building our newest kind of home loan and creating a video app experience,” Sheerin told

“Our team was growing rapidly during times of lockdown and all of our communication was done through video calls, which I think helped us better understand customer needs when creating an inquiry experience. video loan.”

The product was initially tested in late 2021 (only for family and friends), and OneTwo’s first official campaign launched in March 2022 – just two months ago. So they are really a new player in the field.

“We’ve had fantastic customer response to our product and we continue to expand our geographic reach,” Mr. Sheerin said.

Currently, OneTwo’s Low Rate Home Loan is only available for homeowner refinance in Victoria, NSW and South Australia. However, plans are underway for an upcoming launch in Queensland and Western Australia.

“We will be looking to launch an investor loan later in the year,” Mr. Sheerin said.

“Brand new type of mortgage”: the low-rate mortgage

If you’re wondering how the low interest home loan works, we’ve got you covered. Let’s discuss exactly how it works.

For every 5% you repay on your home loan, OneTwo reduces your interest rate by 0.03% to a maximum of 0.15%. If you make additional repayments in the first six months, you could get a $2,500 bonus back in your bank.

Mr Sheerin said OneTwo Home Loans offers one of Australia’s lowest variable rate home loans at 2.09% per annum (1.99% comparison rate).

“Our low rate loan offers customers automatic rate discounts when they pay off their home loan (up to a total of 0.15%). Although the rate is variable, the rate discounts apply for the entire the length of the loan,” he said.

“We will match any additional loan payments customers make in the first six months, up to $2,500 in total (paid within 90 days after customers reach their six-month goal).

“We play fair – we don’t charge any account maintenance, application or exit fees.”

Limited Time $5,000 Money Back Offer

Mr. Sheerin also let us know that there is currently a $5,000 cashback offer for people who refinance to OneTwo with a minimum loan amount of $500,000.

“If you ask OneTwo to refinance your existing home loan with another financial institution by June 30, 2022 and pay by August 31, 2022, you will receive a $5,000 cash back (paid within 60 days after settlement). Terms and conditions apply,” he said.

“A digital experience as easy as OneTwo”

OneTwo describes their home loan application as “a conversation, not an application.”

“We built our own technology platform from the ground up, so we were able to reinvent traditional processes and reduce business costs,” Mr. Sheerin said.

“The savings made by the company are then passed on to customers through a competitive rate and benefits.”

Mr. Sheerin said OneTwo designed its product to give customers control over the rates and benefits of their home loans.

“Customers are rewarded with rate reductions when they pay off their home loan – either on time or early,” he said.

“We have reversed the traditional balance of power between a lender and the customer. Often with lenders the best rate you get is when you first sign up and then over time your rate can go up.

Mr Sheerin said OneTwo has taken a completely different approach to most other lenders.

“The longer you stay with us, the greater the benefits. We want to help our customers pay off their loan sooner and save money along the way,” he said.

“[We offer] a home loan designed to help you save real money at a time of rising interest rates, [with] mortgage specialists who are concerned above all with your needs.

“[It’s] a digital experience as simple as OneTwo.

How to Apply for a OneTwo Home Loan

Before heading to the website and beginning the application process, you will need to be able to answer “yes” to these questions:

  • You currently live in a property (house, townhouse or unit) and want to refinance. You don’t live in an apartment; it is not located in a multi-story building, it is not off-plan, and it is not under construction

  • You are looking for a homeowner’s loan, principal and interest (P&I), at variable rates

  • You are located in the NSW, VIC or SA metro or inner region (QLD and WA to come)

  • You have at least 20% equity in your property

  • Your current loan balance is $2 million or less

  • For single borrowers: You are a full-time, part-time or fixed-term employee receiving a regular pay-as-you-go income. You are not a sole proprietor, director, partner, trustee or casual employee

  • For co-borrowers: Highest earner is a full-time, part-time, or fixed-term employee who is not a sole proprietor, director, partner, trustee, or casual employee

  • You are an Australian citizen or permanent resident

If you can answer “yes” to these questions, you may be eligible for refinancing with OneTwo.

Image by R ARCHITECTURE on Unsplash

The entire market has not been taken into account in the selection of the products above. Instead, a reduced portion of the market was considered. Products from some vendors may not be available in all states. To be considered, the product and price must be clearly published on the product supplier’s website.,, and Performance Drive are part of the Savings Media group. In the interest of full disclosure, Savings Media Group is associated with Firstmac Group. To learn how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.

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