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
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
$1234
Product details Close details
Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart Booster Home Loan
2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
Smart Booster Home Loan
New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
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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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1.85% p.a.variable for 24 months and then 2.25% p.a.
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2.21% p.a.
-
$520
-
80.00%
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$50,000
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$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 Booster Home Loan
Details Close
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p.a.
n/a
$1234
Product details Close detailsUHomeLoan
Owner Occupier, Principal & Interest
p.a.
n/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.
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$0.00
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$0.00
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yes - free up to $20,000 during fixed rate term
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no
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no
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$0
-
p.a.
-
n/a
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$0
-
80.00%
-
$100,000
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$2,000,000
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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 2021.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
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p.a.
2.32% p.a.
$1234
Product details Close detailsBasic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
p.a.
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.
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$0.00
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$400.00
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yes - free
-
yes - free
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no
-
$0
-
p.a.
-
2.32% p.a.
-
$0
-
70.00%
-
$150,000
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$750,000
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Fixed
-
Principal & Interest
-
Owner Occupier
-
Monthly
-
Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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-
Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.
1.99% p.a.
$1234
Product details Close details Mozo 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
1.99% p.a.
1.99% p.a.
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.
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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
-
$0
-
1.99% p.a.
-
1.99% p.a.
-
$0
-
60.00%
-
$100,000
-
$2,000,000
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Variable
-
Principal & Interest
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Owner Occupier
-
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.
2.62% p.a.
$1234
Product details Close detailsSpecial Offer Reward Me Fixed Rate Home Loan
Owner Occupier, LVR <80%, 300k+
p.a.
2.62% 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
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$350.00
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yes - up to $10,000 per annum
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no
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no
-
$450
-
p.a.
-
2.62% p.a.
-
$450
-
80.00%
-
$300,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$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
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1.99% p.a.
1.99% p.a.
$1234
Product details Close detailsVariable Home Loan
Owner Occupier, Principal & Interest
1.99% p.a.
1.99% p.a.
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
Variable Home Loan
Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Comes with Visa debit card and the ability to use digital wallets; Apple and Google Pay. 25% deposit required.
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$0.00
-
$0.00
-
yes - free
-
yes - free
-
yes - offset sub account
-
$0
-
1.99% p.a.
-
1.99% p.a.
-
$0
-
75.00%
-
$100,000
-
$2,500,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Monthly
-
Read our Mozo Review to learn more about the Variable Home Loan
Details Close
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Hot Deal Receive $2,000 cashback when refinancing to 86 400 (T&Cs apply)
p.a.
2.58% p.a.
$1234
Product details Close detailsOwn Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR <60%
p.a.
2.58% 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.
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$250.00 yearly
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$0.00
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yes - free up to $20,000 per fixed rate term
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yes - free
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yes
-
$250
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p.a.
-
2.58% p.a.
-
$250
-
60.00%
-
-
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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$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
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-
p.a.
3.58% p.a.
$1234
Product details Close detailsSpecial Fixed Rate Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
p.a.
3.58% 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.
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$395.00 yearly
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$0.00
-
yes - free up to $25,000 p.a.
-
yes - free
-
no
-
$0
-
p.a.
-
3.58% 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 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
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Hot Deal Receive $3,288 cashback when refinancing to HSBC (T&Cs apply)
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. 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).
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$390.00 yearly
-
$300.00
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yes - free up to $10,000 p.a.
-
no
-
no
-
$270
-
p.a.
-
2.86% p.a.
-
$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
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-
Mozo experts choice awards won:
- Low Cost Home Loan - 2021
1.99% p.a.
2.02% p.a.
$1234
Product details Close details Mozo experts choice awards won:
- Low Cost Home Loan - 2021
Variable Home Loan Special
Owner Occupier, Principal & Interest, LVR <70%
1.99% p.a.
2.02% p.a.
Special rate applies to home loan applications submitted by 31 July 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.
Variable Home Loan Special
Special rate applies to home loan applications submitted by 31 July 2021. Unlimited additional repayments, free redraw, 100% offset account. 30% deposit required. Simple online application. Low Cost Home Loan winner in the Mozo Expert's Choice Awards for 2021.
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$0.00
-
$500.00
-
yes - free
-
yes - free
-
Optional - $10 per month
-
$849
-
1.99% p.a.
-
2.02% p.a.
-
$849
-
70.00%
-
$150,000
-
$1,500,000
-
Variable
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Special rate applies to home loan applications submitted by 31 July 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
Details Close
^See information about the Mozo Experts Choice Home loans Awards
