FAQs

  • Who is OneTwo?

    We're a new challenger lender and we’re on a mission to help people buy and own homes in an easier way.
  • Why the name OneTwo?

    We wanted our name to evoke simplicity and ease. We love how the words ‘one two’ are commonly used in daily life and are usually some of the first words we teach our children. In a world with too many things on our ‘to do’ lists and where everyone is increasingly time poor, our hope is to help make getting a loan as easy as OneTwo.
  • What does OneTwo offer that's different to other lenders?

    We offer a competitive and innovative product and experience that helps people save real time and money.

    ONE. You can help control your rate with our automatic rate-reducing home loan where the more you pay off, the more it pays off.

    TWO. Get the help you need from our customer service experts, over our unique interactive video experience, where you can get your loan approved no matter where you are - think of it as more of a conversation than an application. It's as easy as OneTwo.
  • What is OneTwo’s Founding Member program?

    We’re offering a home loan you can control with an exclusive launch offer of 1.99% p.a.^ (comparison rate 1.89% p.a.*). In addition to our competitive interest rate, for a limited time we’re offering the following exclusive benefits for Founding Members (T&Cs apply):

    • Payment match: we’ll match any additional loan payments you make in the first 6 months over your minimum monthly repayment amount (up to $2,500 in total).


    • No ongoing OneTwo fees: no application, account-keeping or exit fees (certain one-off fees and charges, late payment, and direct debit dishonour fees may apply).


    We hope to progressively introduce new features, so watch out for those!

    ^Variable rate, owner-occupier, principal and interest repayments only. T&Cs, eligibility and lending criteria apply.

    *This comparison rate is based on a loan amount of $150,000 over a term of 25 years. 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.
  • What is the OneTwo Rate-Reducing Home Loan and how does it work?

    The OneTwo Rate-Reducing Home Loan is a variable rate loan. This means the interest rate can change, up or down, over the life of the loan.

    At OneTwo we’re here to help you pay down your home loan. For every 5% of your original loan amount that you pay down, you’ll automatically receive 0.03 percentage points off your current interest rate. You’ll continue to receive rate reductions until you pay off 25% of the original loan amount. So overall, you’ll receive 0.15 percentage points off your interest rate.

    The best part is - the faster you pay down, the sooner you receive your rate reductions.

    Finally, a home loan rate you can control!

    For example: Say you borrow $100,000 and your current interest rate is 1.99% p.a.. Once you pay $5,000 off your loan balance, being 5% of $100,000, your interest rate will automatically decrease to 1.96% p.a. (i.e., 1.99% minus 0.03 percentage points). When you next pay down $5,000, your interest rate will decrease to 1.93% p.a., (i.e., 1.96% minus 0.03 percentage points) and so on. So, in this example, in order to receive the full 0.15% interest rate reduction of 0.15 percentage points (which would bring your rate down to 1.84% p.a.), you must have paid $25,000 off your loan balance (being 25% of your original loan amount of $100,000).
  • If the Rate-Reducing Home Loan is variable, what happens if interest rates go up?

    Because the OneTwo Rate-Reducing Home Loan is a variable rate loan, the interest rate can increase or decrease over the life of the loan. The rate-reducing feature still applies, but this is how it might work if rates were to go up.

    For example: Say you borrow $100,000 and your current interest rate is 1.99% p.a.. Once you pay $5,000 off your loan balance, being 5% of $100,000, your interest rate will automatically decrease to 1.96% p.a. (i.e., 1.99% minus 0.03 percentage points). However, let’s say that the rate increases to 2.15% p.a.. When you next pay down $5,000, your interest rate will decrease to 2.12% p.a. (i.e., 2.15% minus 0.03 percentage points). At this stage, you’ll have received a total rate reduction of 0.06 percentage points (0.03 plus 0.03).

    You’ll keep getting rate discounts – to your current interest rate (which may go up or down over the life of your loan) – until you reach a maximum discount of 0.15 percentage points.
  • Does OneTwo offer fixed rate home loans?

    OneTwo does not currently offer fixed rate home loans, but this may change in the future.
  • How much could I expect to save by switching to a OneTwo Rate-Reducing Home Loan?

    It’s possible that a customer with a 30-year $500,000 home loan could save, on average, approximately $115,000* in interest over the life of their home loan.

    * This is assuming that repayments are made on time, that the interest rate remains at 1.84% p.a. for the remainder of the loan term, and that there are no other rate changes to the underlying variable rate.

    * Based on a 30-year, $500,000 principal and interest loan with a variable interest rate of 3.12% p.a.^ compared with a 30-year $500,000 OneTwo Rate-Reducing Home Loan with a variable interest rate of 1.99% p.a. that reduces to 1.84% p.a. (assuming that repayments are made on time).

    ^ According to APRA and RBA data (as of February 2021) this is the average rate for an owner-occupied, variable rate home loan. See https://www.rba.gov.au/statistics/interest-rates/.

    Important: Any examples shown are for illustrative purposes only and should not be relied upon. Individual circumstances may vary, and interest rate changes may lead to different results.
  • In addition to home loans, does OneTwo also offer a savings account or a credit card?

    Over the coming months, we hope to deploy new features and products to help you manage your money - stay tuned!
  • How do you ensure my personal information is safe?

    OneTwo is committed to keeping your personal information safe. Please read our Privacy Policy for more details on how we manage your personal information. If you have any queries or concerns about how we manage your personal information, please contact us at privacy@onetwo.com.au.
  • Am I eligible to apply for a OneTwo home loan?

    Here at OneTwo, we believe that refinancing should be easy and as enjoyable as possible. To get you started on your OneTwo journey, you need to be able to answer yes to these questions:

    Property type
    • I currently live in the property I want to refinance.

    • My property is a house, a townhouse, or a unit (but not a part of a multistorey building).

    • My property is not an apartment.

    • My property is not off-the-plan or under construction.


    Loan type
    I’m looking for an owner-occupier, principal and interest, variable rate home loan with a competitive interest rate.

    Location
    My property is in NSW or Victoria.

    Equity
    I have at least 20% equity in my property - the Loan-to-Value Ratio (LVR) is 80% or less.

    Loan amount
    My existing loan balance is $1.6m or less.

    Employment
    For single borrowers:  I am an employee (full time, part time, or fixed term contract) and I receive a regular income via PAYG. I am not a sole trader, director, partner, trustee, or casual employee.
    For co-borrowers: the highest income earner is an employee (full time, part time, or fixed term contract) and is not a sole trader, director, partner, trustee, or casual employee.

    Citizenship/ Residency
    I am an Australian citizen or an Australian permanent resident.

    Products we don’t offer (yet)
    • Construction loans

    • Loans for land, for properties purchased off the plan, or for homes smaller than 50m²

    • Loans for apartments

    • Guarantor loans

    • Investment loans

    • Fixed-rate loans

    • Interest-only loans

    • Split loans

    • Loans to trusts or companies

    • Debt consolidation

    • Bridging loans

    • Cross-securitisation


    Sounds like you? Let's get started!
  • Can I get pre-approval? I want to buy a new home

    We’re not offering pre-approvals just yet, but watch this space!
  • I’m a first home buyer. Can OneTwo help me?

    For now, we’re only offering refinancing, not loans for first home buyers. However, we hope to offer loans to new borrowers very soon.
  • How much equity do I need for a OneTwo home loan?

    You need to have at least 20% equity in your property (80% Loan-to-Value-Ratio). When you refinance your home with us, we’ll get an updated valuation of your property to make sure your LVR is 80% or less.
  • Does the OneTwo home loan include a redraw or an offset?

    At the moment, we don’t offer a redraw or an offset account, but we’re planning to add new features and products as we grow. Stay tuned!
  • What fees does OneTwo charge?

    There are NO application, account-keeping, or exit fees. You may be charged a direct debit dishonor fee, payable when a direct debit is dishonoured e.g.:

    • If there are insufficient funds in your nominated bank account.


    • If you gave us wrong bank account details.


    • If we dishonour a direct debit from your loan account (for example you have inadvertently set up direct debit payments from your loan account).


    You may also be charged a fee if you miss a payment or if you make a late payment.
  • How much can I borrow?

    For now, our maximum loan size is $1.6m. You can apply to borrow any amount up to the total amount outstanding on your current loan (minimum refinance amount $20,000)
  • How do I apply for a OneTwo home loan?

    OneTwo’s home loan experience is a conversation, not an application. Simply follow this link to apply.
  • What career opportunities are there at OneTwo and how can I get in touch?

    We’re always looking out for great talent to join the OneTwo team. If, like us, you’re obsessed with constantly learning new things, challenging the norm, and developing fun, new experiences that help improve people's lives, we’d love to hear from you.

    For current opportunities, please check out our LinkedIn page www.linkedin.com/company/onetwohomeloans/ or register your interest by sending your details to us at career@onetwo.com.au.
  • I’m from the media - who can I speak to?

    To speak with someone from OneTwo or to arrange an interview, please email media@onetwo.com.au.