Top 10 Mortgage Lenders in Victoria

Our ranking of 10 home loan lenders most relevant to Victoria borrowers. Score combines the lender's lowest variable rate, our editorial rating, and home-state presence in VIC. We do not weight by affiliate status — see our editorial standards and disclosure. General information only.

  1. 1.
    ubank
    digital · HQ VIC
    5.89% p.a. variable
    ★ 4.4 / 5

    NAB-owned digital lender; Home Loan combines competitive variable rates with NAB-grade backing.

    HQ in VIC$500k / 30y / mo: $2,962Read full review →Visit ubank
  2. 2.
    Bendigo Bank
    bank · HQ VIC
    5.99% p.a. variable
    ★ 4.1 / 5

    Community-owned regional bank; Express Home Loan has been priced sharply through 2026.

    HQ in VIC · Strong local presence$500k / 30y / mo: $2,995Read full review →
  3. 3.
    Up
    digital · HQ VIC
    5.95% p.a. variable
    ★ 4.2 / 5

    Bendigo-backed app-only neobank; Home Loan product launched in beta during 2023.

    HQ in VIC$500k / 30y / mo: $2,982Read full review →
  4. 4.
    Bank Australia
    credit union · HQ VIC
    6.14% p.a. variable
    ★ 4.2 / 5

    Customer-owned ethical bank; refuses to lend to fossil-fuel projects.

    HQ in VIC · Strong local presence$500k / 30y / mo: $3,043Read full review →
  5. 5.
    Bank of Melbourne
    bank · HQ VIC
    6.09% p.a. variable
    ★ 4.0 / 5

    Westpac-owned VIC retail brand; Advantage Package mirrors St George.

    HQ in VIC · Strong local presence$500k / 30y / mo: $3,027Read full review →
  6. 6.
    ME Bank
    bank · HQ VIC
    6.09% p.a. variable
    ★ 3.9 / 5

    Member-focused bank, now part of BOQ Group; competitive on basic variable.

    HQ in VIC · Strong local presence$500k / 30y / mo: $3,027Read full review →
  7. 7.
    ANZ
    big4 · HQ VIC
    6.04% p.a. variable
    ★ 4.0 / 5

    ANZ's Simplicity PLUS Variable has been competitively priced through 2026 for new-to-bank refinancers.

    HQ in VIC · Big 4 national bank$500k / 30y / mo: $3,011Read full review →
  8. 8.
    NAB
    big4 · HQ VIC
    6.04% p.a. variable
    ★ 4.0 / 5

    NAB has a particularly strong commercial and investor home-loan presence; Choice Package bundles its offset with credit cards.

    HQ in VIC · Big 4 national bank$500k / 30y / mo: $3,011Read full review →
  9. 9.
    Macquarie Bank
    bank · HQ NSW
    5.79% p.a. variable
    ★ 4.6 / 5

    Macquarie has been the headline aggressive variable-rate competitor since 2022 and routinely undercuts the Big 4.

    Sharpest variable rate$500k / 30y / mo: $2,931Read full review →Visit Macquarie Bank
  10. 10.
    ING
    digital · HQ NSW
    5.84% p.a. variable
    ★ 4.5 / 5

    Branch-light digital bank that has consistently priced near the front of the variable-rate market.

    Sharpest variable rate$500k / 30y / mo: $2,947Read full review →Visit ING

How we ranked these VIC lenders

For each lender we calculated a score using three signals:

  • Lowest variable rate (0–2.5 points) — inverted against the field, so the sharpest rate gets the maximum bonus.
  • Editorial rating (0–5 points) — from our independent lender review.
  • Home-state presence (0–2.8 points) — bonus for HQ in VIC, community presence, or Big 4 / digital national availability.

Affiliate partnerships are not a ranking factor. The score is deterministic and reproducible from the data on our public lenders page. Rates change frequently; the ranking is reviewed periodically.

General information only. Mortgage Rate Calculator publishes editorial content and tools for general information. We do not provide credit assistance and we do not give personal financial advice. We may earn commission when you click through to some lender websites — see our affiliate disclosure. We do not receive payment from any of the brokers listed on this site. Compare rates carefully and consider seeking independent advice before deciding on a home loan.