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
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Promoted
loans.com.au
2.63% p.a.
2.65% p.a.
$1234
Product details Close detailsloans.com.au Smart Home Loan 80
Owner Occupier, Principal & Interest
2.63% p.a.
2.65% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
Smart Home Loan 80
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ 20% deposit required. Limited time only.
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$0.00
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$0.00
-
yes - free
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yes - free
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no
-
$520
-
2.63% p.a.
-
2.65% p.a.
-
$520
-
80.00%
-
$50,000
-
$1,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Home Loan 80
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Promoted
UBank 2.59% p.a.
2.59% p.a.
$1234
Product details Close detailsUBank UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.59% p.a.
2.59% 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
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$0.00
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yes - free
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yes - free
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no
-
$0
-
2.59% p.a.
-
2.59% p.a.
-
$0
-
80.00%
-
$200,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
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Promoted
State Custodians2.49% p.a.
2.51% p.a.
$1234
Product details Close detailsState CustodiansLow Rate Home Loan Special Offer with Offset
LVR<80%, Owner Occupier, Principal & Interest
2.49% p.a.
2.51% p.a.
Great features, great rate. Enjoy $0 application fee, free redraws and extra repayments plus a free 100% offset account to help you save even more.
Low Rate Home Loan Special Offer with Offset
Great features, great rate. Enjoy $0 application fee, free redraws and extra repayments plus a free 100% offset account to help you save even more.
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$0.00
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$300.00
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yes - free
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yes - free
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yes
-
$0
-
2.49% p.a.
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2.51% p.a.
-
$0
-
60.00%
-
$100,000
-
$2,000,000
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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 Low Rate Home Loan Special Offer with Offset
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Promoted
Homestar 2.44% p.a.
2.47% p.a.
$1234
Product details Close detailsHomestar Star Essentials Home Loan
Owner Occupier, Principal & Interest
2.44% p.a.
2.47% p.a.
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. End of Financial Year Special - No Upfront Fees.
Star Essentials Home Loan
Low Cost Home Loan 2020 winner.^ Packed with essentials like free redraw and extra repayments. No ongoing fees. Borrow $150K+. No construction loans. End of Financial Year Special - No Upfront Fees.
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$0.00
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$535.00
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yes - free
-
yes - free
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no
-
$512
-
2.44% p.a.
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2.47% p.a.
-
$512
-
80.00%
-
$150,000
-
$850,000
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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 Star Essentials Home Loan
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Promoted
HSBC 2.65% p.a.
2.66% p.a.
$1234
Product details Close detailsHSBC Discounted Home Value Loan
Owner Occupier, Principal & Interest
2.65% p.a.
2.66% p.a.
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
Discounted Home Value Loan
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020^
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$0.00
-
$300.00
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yes - free
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yes - free online
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no
-
$150
-
2.65% p.a.
-
2.66% p.a.
-
$150
-
80.00%
-
$50,000
-
$7,500,000
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Variable
-
Principal & Interest
-
Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Discounted Home Value Loan
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Promoted
Yard2.66% p.a.
2.69% p.a.
$1234
Product details Close detailsYardVariable Home Loan
Owner Occupier, Principal & Interest
2.66% p.a.
2.69% p.a.
Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.
Variable Home Loan
Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.
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$0.00
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$500.00
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yes - free
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yes - free
-
Optional - $10 per month
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$835
-
2.66% p.a.
-
2.69% p.a.
-
$835
-
90.00%
-
$150,000
-
$5,000,000
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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 Variable Home Loan
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Promoted
Gateway Bank2.76% p.a.
2.79% p.a.
$1234
Product details Close detailsGateway BankLow Rate Essentials Home Loan
LVR<80%, Owner Occupier, Special 500k+
2.76% p.a.
2.79% p.a.
A great low variable rate with no annual fees & make extra repayments without any penalties.
Low Rate Essentials Home Loan
A great low variable rate with no annual fees & make extra repayments without any penalties.
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$0.00
-
$300.00
-
yes - free
-
yes - free
-
no
-
$275
-
2.76% p.a.
-
2.79% p.a.
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$275
-
80.00%
-
$500,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Low Rate Essentials Home Loan
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Promoted
loans.com.au2.79% p.a.
2.81% p.a.
$1234
Product details Close detailsloans.com.auEssentials Variable 90
Owner Occupier, Principal & Interest
2.79% p.a.
2.81% p.a.
This low-rate home loan that could save you thousands! With no monthly or ongoing fees and the ability to make unlimited additional repayments. This home loan from popular online lender loans.com.au also features unlimited free redraws with no minimum redraw amount.
Essentials Variable 90
This low-rate home loan that could save you thousands! With no monthly or ongoing fees and the ability to make unlimited additional repayments. This home loan from popular online lender loans.com.au also features unlimited free redraws with no minimum redraw amount.
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$0.00
-
$0.00
-
yes - free
-
yes - free
-
no
-
$520
-
2.79% p.a.
-
2.81% p.a.
-
$520
-
90.00%
-
$50,000
-
$2,000,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Essentials Variable 90
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Promoted
Newcastle Permanent2.94% p.a.
2.98% p.a.
$1234
Product details Close detailsNewcastle PermanentSpecial Real Deal Home Loan
Owner Occupier, Principal & Interest
2.94% p.a.
2.98% p.a.
No ongoing fees. Ability to split your loan between fixed and variable. Winner of Mozo Experts Choice Award 2019 for First Home Buyer Loan & Investor Home Loan^.
Special Real Deal Home Loan
No ongoing fees. Ability to split your loan between fixed and variable. Winner of Mozo Experts Choice Award 2019 for First Home Buyer Loan & Investor Home Loan^.
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$0.00
-
$0.00
-
yes - free
-
yes - fees apply
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yes - partial only
-
$0
-
2.94% p.a.
-
2.98% p.a.
-
$0
-
90.00%
-
$150,000
-
-
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Special Real Deal Home Loan
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Promoted
Mortgage Housep.a.
2.77% p.a.
$1234
Product details Close detailsMortgage HouseMonthly Repayment Saver Home Loan - Fixed Rate Consolidation Special
Owner Occupier, Principal & Interest
p.a.
2.77% p.a.
Consolidate all of your debts into one easy-to-understand home loan. Transfer your debt into one low-interest rate home loan and start saving.
Monthly Repayment Saver Home Loan - Fixed Rate Consolidation Special
Consolidate all of your debts into one easy-to-understand home loan. Transfer your debt into one low-interest rate home loan and start saving.
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$0.00
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$450.00
-
yes - free
-
yes - free
-
yes
-
$840
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p.a.
-
2.77% p.a.
-
$840
-
80.00%
-
$150,000
-
$5,000,000
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Monthly Repayment Saver Home Loan - Fixed Rate Consolidation Special
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