If you thought you could never get any money from your lender or broker, think again. In an Australian first, Mates Rates Mortgages has vowed to subsidise its borrowers' monthly home loan repayments for the life of the loans.

By the lender paying an added yearly bonus of 0.15% of the total value of home loans, a customer can save up to thousands of dollars during the term of their mortgage.

Michael Lee, co-founder of Mates Rates, said there are many reasons why his company can afford to provide such large rebates.

"Our investors don't want to milk our customers for harbourside mansions and we don't have to make massive profits to satisfy shareholders," Lee explained.

The monthly rebate accounts for 60-75% of the company's trail commission profits paid by the lender to the company. This is a commission Lee said the company can afford to do without - giving its customers a better opportunity to pay their mortgages off faster.

"The rebates are the lion's share of profits from ongoing commissions paid to the broker by the lender that can quickly amount to thousands of dollars saved for Mates Rates' mortgages customers," continued Lee.

For a $300,000 loan taken over 30 years at 7.45%, Mates Rates customers can save more than $37,000 on the life of their loan (with no restrictions on loan type), compared to a loan from a traditional broker.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan