Just weeks ago it seemed as if the banks' fixed rate home loan wars were coming to an end, but top online bank UBank has now fired a new salvo with the release of its lowest ever 1-year fixed home loan rate of 1.75% p.a. (2.31% comparison rate*).
UBank’s new rate sits well below the average 1-year fixed rate of 2.32%. The only catch is you'll have to get in quick as it’s a limited time, end of financial year special. Borrowers will need to apply by 30 June and settle within 90 days. Luckily, UBank has a super-efficient online application process and local home loan experts on the phones, to make all this a breeze.
UBank CEO, Philippa Watson, said it's important customers can still find the right home loan even with record low rates.
"We believe a really sharp one year fixed rate provides the right mix of certainty and flexibility that people are looking for," Ms Watson said. "This very low offer gives customers more money back in their pocket and stability after a period of uncertainty."
Read on for the Mozo expert rundown of UBank's stellar new fixed offer and how it shapes up against its ever popular discounted variable UHomeLoan, to find out if it's time to make the move to this award-winning lender….