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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1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$1234
Product details Close detailsSmart 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.
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.
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$0.00
-
$0.00
-
yes - free
-
yes - free
-
Optional - with 0.10% additional interest
-
$520
-
1.99% p.a.variable for 12 months and then 2.48% p.a.
-
2.47% p.a.
-
$520
-
80.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Smart Booster 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 with the Mozo Experts Choice Home Lender Bank of the Year.^ 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 with the Mozo Experts Choice Home Lender Bank of the Year.^ 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
-
$0.00
-
yes - free up to $20,000 p.a.
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no
-
no
-
$395
-
p.a.
-
2.22% p.a.
-
$395
-
80.00%
-
$100,000
-
$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 31 March 2020. Receive 1.75% Receive 1.75% 3 year fixed rate when you apply by 26 February 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
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-
2.19% p.a.
2.19% p.a.
$1234
Product details Close detailsCelebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a.
2.19% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Celebrate Variable Home Loan
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
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$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
$0
-
2.19% p.a.
-
2.19% p.a.
-
$0
-
60.00%
-
$100,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
-
-
p.a.
2.53% p.a.
$1234
Product details Close detailsBasic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
p.a.
2.53% p.a.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Basic Home Loan
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
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$0.00
-
$400.00
-
yes - free
-
yes - free
-
no
-
$0
-
p.a.
-
2.53% p.a.
-
$0
-
80.00%
-
$150,000
-
$750,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Monthly
-
Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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-
p.a.
2.90% p.a.
$1234
Product details Close detailsFixed Home Loan Special Offer Home Package Plus
Owner Occupier, Principal & Interest, <80% LVR
p.a.
2.90% p.a.
Competitive low rates starting from 1.89% (2.94% 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% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
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$375.00 yearly
-
$350.00
-
yes - free up to $500 per month
-
no
-
no
-
$0
-
p.a.
-
2.90% 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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-
2.59% p.a.
2.76% p.a.
$1234
Product details Close detailsEconomy Variable Home Loan
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a.
2.76% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
Economy Variable Home Loan
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
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$10.00 monthly
-
$320.00
-
yes - free
-
yes
-
no
-
$450
-
2.59% p.a.
-
2.76% p.a.
-
$450
-
70.00%
-
$150,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 26 February 2021, settle by 28 May 2021.
Read our Mozo Review to learn more about the Economy Variable Home Loan
Details Close
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-
2.19% p.a.
2.20% p.a.
$1234
Product details Close detailsNeat Home Loan
Owner Occupier, Principal & Interest, LVR <60%
2.19% p.a.
2.20% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Neat Home Loan
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
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$0.00
-
$300.00
-
yes - free
-
yes - free
-
no
-
$250
-
2.19% p.a.
-
2.20% p.a.
-
$250
-
60.00%
-
$80,000
-
$5,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Neat Home Loan
Details Close
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-
2.17% p.a.
2.20% p.a.
$1234
Product details Close detailsWell 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.
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.
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$0.00
-
$300.00
-
yes - free
-
yes - free
-
Optional - $10 per month
-
$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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-
p.a.
2.73% p.a.
$1234
Product details Close detailsSpecial Offer Reward Me Fixed Rate Home Loan
Owner Occupier, LVR <80%, 300k+
p.a.
2.73% 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.
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$10.00 monthly
-
$350.00
-
yes - up to $10,000 per annum
-
no
-
no
-
$450
-
p.a.
-
2.73% p.a.
-
$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 26 Feb 2021, settled by 28 May 2021.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
Details Close
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-
2.34% p.a.
2.34% p.a.
$1234
Product details Close detailsUHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.34% p.a.
2.34% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
UHomeLoan - Discount Offer
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
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$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
$0
-
2.34% p.a.
-
2.34% p.a.
-
$0
-
80.00%
-
$100,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
