UBank joins 2.99% home loan party

Kirsty Lamont

16 Jun 2019

Ubank party article image content

Just when we thought home loan rates couldn't get any more competitive, popular online lender UBank has slashed its fixed rate UHomeLoan by up to 0.60% and debuted a jaw dropping new sub 3.00% rate. 

Since the Reserve Bank cut the official cash rate to a new historic low, challenger lenders have been racing to release ultra competitive variable and fixed home loan rates, but few have gone as low as the new 2.99% (4.09% comparison rate*) on offer from UBank for a 1 year fixed term.

While UBank is currently one of just a handful of lenders in the Mozo comparison database to offer home loan rates with a "2" in front, there are some incredible fixed deals on offer from a range of lenders for 1 to 3 year terms. Compare some of the top fixed rates on the market right now in the table below.

Top Fixed Home Loan Rates

Rates updated daily. Advertiser disclosure.

  • UBank

    1.79% p.a.
    fixed 1 year

    2.32% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.79% p.a.
    fixed 1 year

    2.32% p.a.

    Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.

    UHomeLoan

    Fast, easy to apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.79% p.a.
      fixed 1 year

    • 2.32% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free up to $20,000 during fixed rate term

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • Macquarie

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    $1234

    Product details Close details
    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    2.09% p.a.
    fixed 3 years

    2.32% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    Basic Home Loan

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    • 2.09% p.a.
      fixed 3 years

    • 2.32% p.a.

    • $0

    • $0.00

    • $400.00

    • yes - free

    • yes - free

    • no

    • $0

    • 70.00%

    • $150,000

    • $750,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Monthly

    Read our Mozo Review to learn more about the Basic Home Loan

    Details Close

  • Virgin Money

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    $1234

    Product details Close details
    Special Offer Reward Me Fixed Rate Home Loan

    Owner Occupier, LVR <80%, 300k+

    1.98% p.a.
    fixed 2 years

    2.66% p.a.

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    Special Offer Reward Me Fixed Rate Home Loan

    Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.

    • 1.98% p.a.
      fixed 2 years

    • 2.66% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - up to $10,000 per annum

    • no

    • no

    • $450

    • 80.00%

    • $300,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 cashback for new borrowings of at least $300,000, applications by 29 August 2021, settled by 26 November 2021.

    Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan

    Details Close

  • Hot Deal Receive $2,000 cashback when refinancing to 86 400 (T&Cs apply)

    86 400

    1.84% p.a.
    fixed 1 year

    2.63% p.a.

    $1234

    Product details Close details
    Own Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR <60%

    1.84% p.a.
    fixed 1 year

    2.63% p.a.

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    Own Home Loan

    Competitive fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    • 1.84% p.a.
      fixed 1 year

    • 2.63% p.a.

    • $250

    • $250.00 yearly

    • $0.00

    • yes - free up to $20,000 per fixed rate term

    • yes - free

    • yes

    • $250

    • 60.00%

    • -

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback for eligible home loans of at least $250,000 with applications received by 30 September 2021 and settled before 31 November 2021.

    Read our Mozo Review to learn more about the Own Home Loan

    Details Close

  • Newcastle Permanent

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    $1234

    Product details Close details
    Special Fixed Rate Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    1.89% p.a.
    fixed 2 years

    3.67% p.a.

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for home loans over $250k with at least a 20% deposit when refinancing to Newcastle Permanent.

    Special Fixed Rate Home Loan Premium Plus Package

    Lock in a low fixed rate or choose to split your loan between fixed and variable. Insurance discounts and no fee credit card or zero fee personal loan available. $2,000 cashback offer for home loans over $250k with at least a 20% deposit when refinancing to Newcastle Permanent.

    • 1.89% p.a.
      fixed 2 years

    • 3.67% p.a.

    • $0

    • $395.00 yearly

    • $0.00

    • yes - free up to $25,000 p.a.

    • yes - free

    • no

    • $0

    • 80.00%

    • $5,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 September 2021 and are funded by 30 November 2021, min $250k, LVR <80%

    Read our Mozo Review to learn more about the Special Fixed Rate Home Loan

    Details Close

  • Hot Deal Receive $3,288 cashback when refinancing to HSBC (T&Cs apply)

    HSBC

    1.88% p.a.
    fixed 2 years

    2.86% p.a.

    $1234

    Product details Close details
    Fixed Rate Home Loan Home Loan Package

    Owner Occupier, Principal & Interest, LVR <80%

    1.88% p.a.
    fixed 2 years

    2.86% p.a.

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    Fixed Rate Home Loan Home Loan Package

    Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Min 20% deposit. Refinancers borrowing $250,000 or more could receive $3,288 cashback (T&Cs, eligibility and lending criteria apply).

    • 1.88% p.a.
      fixed 2 years

    • 2.86% p.a.

    • $270

    • $390.00 yearly

    • $300.00

    • yes - free up to $10,000 p.a.

    • no

    • no

    • $270

    • 80.00%

    • $500,000

    • $7,500,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • Receive $3,288 cashback when you refinance a minimum of $250k for applications until 31 August 2021.

    Read our Mozo Review to learn more about the Fixed Rate Home Loan

    Details Close

  • Bank of Queensland
    Mozo Expert Choice Badge" style="width:60px;">

    1.94% p.a.
    fixed 3 years

    2.97% p.a.

    $1234

    Product details Close details
    Discount Fixed Rate

    Owner Occupier, Principal & Interest, <80% LVR

    1.94% p.a.
    fixed 3 years

    2.97% p.a.

    Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 29 August, 2021 and get $3,000 cashback(T&Cs apply).

    Discount Fixed Rate

    Lock in a competitive rate for 2 years. Only 20% deposit required. Flexible repayment options and make up to $5,000 in additional repayments annually. Refinance to BOQ by 29 August, 2021 and get $3,000 cashback(T&Cs apply).

    • 1.94% p.a.
      fixed 3 years

    • 2.97% p.a.

    • $450

    • $10.00 monthly

    • $350.00

    • yes - free up to $5,000 p.a

    • no

    • no

    • $450

    • 80.00%

    • $150,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 29 August 2021, settle by 26 November 2021.

    Read our Mozo Review to learn more about the Discount Fixed Rate

    Details Close

  • Heritage Bank

    2.19% p.a.
    fixed 3 years

    2.96% p.a.

    $1234

    Product details Close details
    Fixed Rate Loan Home Advantage

    Owner Occupier, LVR<80%

    2.19% p.a.
    fixed 3 years

    2.96% p.a.

    No application fees. Free extra repayments and redraw facility. Flexible loan repayment terms. Family Guarantee to help avoid paying Lenders Mortgage Insurance. 20% deposit required.

    Fixed Rate Loan Home Advantage

    No application fees. Free extra repayments and redraw facility. Flexible loan repayment terms. Family Guarantee to help avoid paying Lenders Mortgage Insurance. 20% deposit required.

    • 2.19% p.a.
      fixed 3 years

    • 2.96% p.a.

    • $150

    • $350.00 yearly

    • $300.00

    • yes - free

    • yes - free

    • no

    • $150

    • 80.00%

    • $700,000

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Fixed Rate Loan

    Details Close

  • UBank

    1.95% p.a.
    fixed 3 years

    2.27% p.a.

    $1234

    Product details Close details
    UHomeLoan

    Owner Occupier, Principal & Interest

    1.95% p.a.
    fixed 3 years

    2.27% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    UHomeLoan

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

    • 1.95% p.a.
      fixed 3 years

    • 2.27% p.a.

    • $0

    • $0.00

    • $0.00

    • yes - free up to $20,000 during fixed rate term

    • no

    • no

    • $0

    • 80.00%

    • $100,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.

    Read our Mozo Review to learn more about the UHomeLoan

    Details Close

  • Well Home Loans

    1.95% p.a.
    fixed 2 years

    2.02% p.a.

    $1234

    Product details Close details
    Well Balanced Fixed

    Owner Occupier, Principal & Interest, LVR <80%

    1.95% p.a.
    fixed 2 years

    2.02% p.a.

    Super low fixed rate and only 20% deposit required. Optional 100% offset account. Free extra repayments and redraw facility. Flexible repayment schedule.

    Well Balanced Fixed

    Super low fixed rate and only 20% deposit required. Optional 100% offset account. Free extra repayments and redraw facility. Flexible repayment schedule.

    • 1.95% p.a.
      fixed 2 years

    • 2.02% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $785

    • 80.00%

    • $200,000

    • $2,000,000

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Well Balanced Fixed

    Details Close

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