UBank makes a splash with sizzling new home loan
Mozo
03 Apr 2020
UBank has kept hold of its crown as one of the most competitive home loan lenders in Australia after debuting a gob-smackingly low new variable rate home loan.
The UBank UHomeLoan now features a reduced variable rate of just 2.59% (2.59% comparison rate*) for owner occupiers borrowing over $200,000 with a minimum deposit of 20%. This is one of the lowest home loan rates in the Mozo database.
UBank is the latest lender to slash rates following the Reserve Bank’s decision to cut the official cash rate to a record low 0.25% - a decision which has resulted in competition among smaller lenders heating up to sizzling new levels.
Compare UBank’s hot new home loan rate against some of the other top deals on the market using the table below, and see how much you could save by switching.
TOP VARIABLE HOME LOANS
Rates updated daily. Advertiser disclosure.
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Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart Booster Home Loan
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.
Smart Booster Home Loan
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.
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$0.00
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$0.00
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yes - free
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yes - free
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Optional - with 0.10% additional interest
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$520
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1.99% p.a.variable for 12 months and then 2.48% p.a.
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2.47% p.a.
-
$520
-
80.00%
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$50,000
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$1,000,000
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Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Booster Home Loan
Details Close
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p.a.
2.43% p.a.
$1234
Product details Close detailsBasic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
p.a.
2.43% p.a.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
Basic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
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$0.00
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$400.00
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yes - free
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yes - free
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no
-
$0
-
p.a.
-
2.43% p.a.
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$0
-
70.00%
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$150,000
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$750,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
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Monthly
-
Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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p.a.
2.22% p.a.
$1234
Product details Close detailsUHomeLoan
Owner Occupier, Principal & Interest
p.a.
2.22% 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.
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$0.00
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$0.00
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yes - free up to $20,000 p.a.
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no
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no
-
$0
-
p.a.
-
2.22% p.a.
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$0
-
80.00%
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$100,000
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$2,000,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$395 Establishment fee waived for fixed rate loans that settle by 30 September 2022. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
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Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
2.19% p.a.
2.19% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a.
2.19% p.a.
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
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$0.00
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$0.00
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yes - free
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yes - free
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no
-
$0
-
2.19% p.a.
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2.19% p.a.
-
$0
-
60.00%
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
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p.a.
2.15% p.a.
$1234
Product details Close detailsFixed Home Loan
Owner Occupier, Principal & Interest
p.a.
2.15% p.a.
Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^
Fixed Home Loan
Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^
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$0.00
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$325.00
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yes - free, up to $20,000 p.a.
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yes - free
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Optional - $10 per month
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$0
-
p.a.
-
2.15% p.a.
-
$0
-
90.00%
-
$50,000
-
$2,000,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Fixed Home Loan
Details Close
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p.a.
3.56% p.a.
$1234
Product details Close detailsSpecial Fixed Rate Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
p.a.
3.56% p.a.
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
Special Fixed Rate Home Loan Premium Plus Package
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
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$395.00 yearly
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$0.00
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yes - free up to $25,000 p.a.
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yes - free
-
no
-
$0
-
p.a.
-
3.56% p.a.
-
$0
-
80.00%
-
$5,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 June 2021 and are funded by 31 August 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
Details Close
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p.a.
2.86% p.a.
$1234
Product details Close detailsFixed Rate Home Loan Home Loan Package
Owner Occupier, Principal & Interest, LVR <80%
p.a.
2.86% p.a.
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (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. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply).
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$390.00 yearly
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$300.00
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yes - free up to $10,000 p.a.
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no
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no
-
$270
-
p.a.
-
2.86% p.a.
-
$270
-
80.00%
-
$500,000
-
$7,500,000
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Fixed
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Receive $3,288 when you refinance a minimum of $250k for applications from 15 Feb to 30 April 2021, settled by 30 June 2021.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Details Close
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p.a.
2.83% p.a.
$1234
Product details Close detailsFixed Home Loan Special Offer Home Package Plus
Owner Occupier, Principal & Interest, <80% LVR
p.a.
2.83% p.a.
Competitive low rates starting from 1.89% (2.85% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Fixed Home Loan Special Offer Home Package Plus
Competitive low rates starting from 1.89% (2.85% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
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$375.00 yearly
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$350.00
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yes - free up to $500 per month
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no
-
no
-
$0
-
p.a.
-
2.83% p.a.
-
$0
-
80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
Details Close
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-
Mozo experts choice awards won:
- Offset Home Loan - 2021
2.17% p.a.
2.20% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a.
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
Well Balanced
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
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$0.00
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$300.00
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yes - free
-
yes - free
-
Optional - $10 per month
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$785
-
2.17% p.a.
-
2.20% p.a.
-
$785
-
80.00%
-
$200,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Well Balanced
Details Close
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2.49% p.a.
2.49% p.a.
$1234
Product details Close detailsBasic Variable Home Loan
LVR<80%, Owner Occupier, Principal and Interest, >$150k
2.49% p.a.
2.49% p.a.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
Basic Variable Home Loan
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
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$0.00
-
$350.00
-
yes - free
-
yes - free
-
no
-
$0
-
2.49% p.a.
-
2.49% p.a.
-
$0
-
80.00%
-
$150,000
-
$1,500,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Basic Variable Home Loan
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
