ChoiceLend Review: A Comprehensive Guide for Prospective Home Buyers in Australia

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By Joseph "Joe" Bancroft

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When exploring the world of home loans in Australia, one name that might pop up in your research is ChoiceLend. Part of the National Australia Bank (NAB) Group, ChoiceLend offers competitive home loan products, but it’s essential to understand its services fully before making a decision. This comprehensive guide aims to cover everything a prospective home buyer needs to know about ChoiceLend.

What is ChoiceLend?

ChoiceLend is a white-label product offered by Choice Aggregation Services, which acts as an aggregator for mortgage brokers. Essentially, ChoiceLend operates under the umbrella of the NAB Group, with its products funded by Advantedge Financial Services, a distribution arm for NAB (ChoiceLend Home Loan Review | Expert’s Review).

ChoiceLend’s business stream comes solely from mortgage brokers who are accredited through Choice Aggregation. This network allows ChoiceLend to offer competitive home loan products to a wide range of customers (Lender Products). It’s noteworthy that the Choice group, which includes ChoiceLend, was bought out by NAB in 2009 (Residential home mortgage lender panel list | Adelaide Broker).

Is ChoiceLend a Bank?

Despite being part of the NAB Group, ChoiceLend is not a bank. Instead, it operates as a mortgage broker and offers its own home loans through Choice Aggregation Services (Choice mortgage brokers: Expert home loan help | Finder). It’s essential to know this difference when considering a loan with ChoiceLend, as it could impact your decision-making process.

How to Contact ChoiceLend

For prospective home buyers interested in learning more about ChoiceLend’s products or needing assistance, there are several ways to get in touch. The Australian-based CustomerCare team can be reached by phone at 1300 558 775 or by email at (Login – Advantedge). For additional information, you can visit the official ChoiceLend website: (Choice Lend –

ChoiceLend Home Loans

ChoiceLend is lauded for its simple, no-frills home loan products. They offer fixed rate loans, variable rate loans, combo loans (which are split loans), and lines of credit ( Each of these loan types serves different needs, and it’s essential to understand these products thoroughly when choosing a home loan that suits your financial situation.

Fixed-rate loans offer the security of knowing your interest rate and monthly repayments will remain the same over a specified period. This type of loan is beneficial for budgeting and provides protection if interest rates rise. On the other hand, variable rate loans offer more flexibility but come with the risk of fluctuating interest rates.

Combo loans are a combination of fixed and variable rate loans, offering a balance between stability and flexibility. Finally, lines of credit provide a revolving source of funds up to an approved limit, which can be useful for renovations or other significant expenses.

Despite the variety, it’s crucial to note that ChoiceLend’s products do not come with offset accounts, which could be a drawback for certain borrowers, particularly dual-income families who tend to need a daily transaction account.

Pros and Cons of ChoiceLend

As with any lender, ChoiceLend comes with its advantages and disadvantages. On the plus side, ChoiceLend offers good interest rates due to the low overheads of being an online business. There are also rate discounts available for those willing to pay an annual fee. It’s backed by one of Australia’s largest banks, charges no monthly or ongoing fees, and offers simple products that are easy to set up and manage.

ChoiceLend also provides flexible repayment options, allowing for extra repayments and an unlimited loan split. This flexibility is particularly advantageous for those who wish to pay off their loans faster or those who need to adjust their repayment structure due to changes in their financial situation.

However, there are also a few downsides to consider. ChoiceLend doesn’t have branch access, making it less accessible for those who prefer face-to-face banking. Also, it might not be the best choice for people with a bad credit history, as credit scoring can be stringent. If you have a small deposit, the interest rates and fees might not always be competitive. Finally, the loan processing can sometimes be slow, which could be a drawback for those in a hurry to secure their home loan.

Good interest ratesNo branch access
Rate discounts availableLess likely to help people with bad credit history
Backed by one of Australia’s largest banksCredit scoring can be stringent
No monthly or ongoing feesInterest rates and fees might not be competitive for small deposits
Simple products that are easy to set up and manageLoan processing can sometimes be slow
Flexible repayment optionsHome loans are only available through Choice mortgage brokers
Can make extra repaymentsNo offset accounts available on their products
Unlimited loan split available

Will Interest Rates Stay Competitive?

The competitiveness of ChoiceLend’s interest rates is a crucial factor for prospective home buyers. Currently, their variable rates are competitive and will only change if they decide to change the rates after the Reserve Bank of Australia (RBA) announces the cash rate. However, after your fixed rate ends, your mortgage will revert to a standard variable rate or an equivalent package interest rate.

To ensure that you’re getting the best rate, it’s crucial to stay informed about any changes in the RBA’s cash rate and to negotiate with ChoiceLend proactively. A mortgage broker can assist you in this process and choose from a range of lenders to negotiate sharper pricing.


To understand how ChoiceLend fares in the competitive home loan market, don’t miss our comprehensive analysis in ‘Choicelend v/s Athena Home Loans: Which one’s better‘.

Tips for Applying with ChoiceLend

If you’re considering applying for a home loan with ChoiceLend, it’s advisable to use ChoiceLend’s loan application form to prepare for your mortgage application. It provides a comprehensive list of what ChoiceLend requires, making the application process smoother.

However, the form available as of August 2017 may not be the most current one, so it’s always best to refer to ChoiceLend for their most up-to-date document requirements. Working with a mortgage broker can also make this process easier, as they can guide you through the application and ensure you have all the necessary information and documentation.

Frequently Asked Questions (FAQs)

1. Is ChoiceLend part of NAB? Yes, ChoiceLend is part of the NAB Group (ChoiceLend Home Loan Review | Expert’s Review).

2. Is ChoiceLend a bank? No, ChoiceLend is not a bank. It operates as a non-bank lender (Choice mortgage brokers: Expert home loan help | Finder).

3. How do I contact ChoiceLend? ChoiceLend’s customer care team can be reached by phone at 1300 558 775 or by email at (Login – Advantedge).

4. Is ChoiceLend safe? ChoiceLend operates under the regulations and standards required for financial institutions in Australia, as part of the NAB Group.

5. Is ChoiceLend legit? Yes, ChoiceLend is a legitimate home loan provider in Australia, backed by the NAB Group.

6. Can I apply for a ChoiceLend loan online? Yes, you can apply for a ChoiceLend loan online, though all home loans are only available through Choice mortgage brokers.


ChoiceLend offers a range of straightforward and competitive home loan products that cater to different needs. However, like any home loan provider, it has its advantages and disadvantages, and these should be carefully weighed before making a decision. The lack of branch access, the stringent credit scoring, and the absence of offset accounts on their products might be drawbacks for some potential borrowers.

On the other hand, ChoiceLend offers competitive interest rates, no monthly or ongoing fees, and a flexible repayment structure, making it an attractive choice for many. ChoiceLend’s ties to the NAB Group also add a level of security and stability to its services.

It’s crucial for prospective home buyers to do their research and consider their financial situation, needs, and goals before choosing a home loan provider. Consulting with a financial advisor or mortgage broker can also be beneficial in making this important decision.

This guide aimed to provide a comprehensive overview of ChoiceLend to aid in your decision-making process. Remember, choosing a home loan is a significant financial decision that should be made with careful consideration and adequate knowledge.


  1. ChoiceLend Home Loan Review | Expert’s Review.
  2. Lender Products.
  3. Residential home mortgage lender panel list | Adelaide Broker.
  4. Choice mortgage brokers: Expert home loan help | Finder.
  5. Login – Advantedge.
  6. Choice Lend –
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A finance geek with over 20 years of experience, Joseph Bancroft, known as Joe, is the Chief Editor at Money News Biz. He's an acclaimed author, blogger, speaker, and mentor, with a knack for forecasting economic trends and identifying investment opportunities. Joe blends professional acumen with a quirky charm, making him a respected and engaging figure in the finance industry.

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