The team at Your Mortgage has worked out the 'true cost' of all 82 (16 bank products & 66 non-bank) intro loan products in our books by taking into account each and every fee, including upfront, ongoing and deferred establishment fees as 6 July 2009.

By working out how much a given loan will cost you after a range of time periods- three, five and 10 years- we show you the impact that these fees can have on the total cost of your mortgage. By adding all fees to the cost of principal and interest (P&I), we calculate the true cost of a mortgage over three, five and 10 years. This month, we based or calculation on a loan amount of $300,000 at 80% LVR taken over 30 years.

And the winner is...
One Direct's Variable Rate Loan emerged as the overall winner in the bank division for the best value standard variable rate loan in Australia after coming out on top on all categories: 3-year, 5-year and 10-year.

With interest rate as low as 5.04% as at 6 July, One Direct's product has the cheapest rate of all the top ranking loans in the bank category. Westpac's PAP Premium Option $250K-$500K also performed well thanks to its competitive interest rate and low fees.

Multi-award winner Pacific Mortgage Group's PMG Standard Variable Rate has once again topped the non-bank sector, dominating all 3, 5, and 10 year categories. The product has already won the Editor's Choice awards as well as the recent Mortgage of the Year Awards recently boosted by its consistently low interest rates and zero start up and ongoing fees.

Heritage Building Society's Professional Package Variable Loan also ranked high in our assessment boosted by its low interest rate of just 4.82%. Like PMG, Heritage Building Society waived its upfront cost. It also charges a much lower deferred establishment fee of just $800.

For the complete list of top ranking loans, get a copy of Your Mortgage magazine out Friday 18th September.