Your selected home loans
No annual fee
Free redraw facility
Unlimited extra repayments
Free property valuation (up to $360)
No offset account
Lowest interest rate requires a 40% deposit.
Ubank’s no-nonsense Neat variable home loan boasts free redraws and unlimited extra repayments, topped off with a competitive interest rate for owner-occupiers.
Owner-occupier rates for the Neat variable home loan start at 6.09% p.a. (6.11% p.a. comparison rate*) for borrowers with a 40% deposit – or a loan-to-value ratio (LVR) up to 60%.
However, rates are still very competitive for those with LVRs up to 80%, at 6.14% p.a. (6.16% p.a. comparison rate*).
While there’s no offset account available on this home loan, ubank will cover your first property valuation fee, up to the first $360, which we think is neat. Any subsequent valuations you request will be out of your pocket, however.
The whole application process can be done online, but there is support available from ubank if you get stuck along the way.
Upfront fees include $250 for settlement, but there’s no ongoing fees to worry about. When you refinance or finish paying off your home loan, you’ll be charged a $300 discharge fee.
Your selected home loans
I LIKE THIS BANK FOR ITS FLEXIBLE AND VERY COMPETITIVE HOME LOANS. THE EASE OF APPLICATION ALSO WAS A PLUS FACTOR BEING CONDUCTED EFFICIENTLY VIA PHONE AND INTERNET. I REALLY LIKE THE EASE WITH WHICH I CAN MAKE ADDITIONAL REPAYMENTS, AND THE REDRAW FACILITY WHICH AGAIN IS EASY AND DOES NOT HAVE YOU FILLING IN COPIOUS AMOUNTS OF PAPERWORK. MY STATEMENTS ARE CLEAR AND EASY TO UNDERSTAND AND THE CUSTOMER SERVICE HAS ALWAYS BEEN PROMPT, CURTEOUS AND EFFICIENT.
I was recommended this bank from my broker when I was looking for an investment property. Firstly the application process was simple, easy and streamlined, I was offered great interest rate that has help especially in the last 12 months. That have a good APP that is easy to use and monitors your accounts efficiently. Easy to link with other accounts. The only cons of my experience of this bank was when I rang up to review my rate I had to go through several individuals to get to the right section and then I had to wait for them to ring me back 24 hours later. This is a common issue I have experienced with banks I have used in the past. Overall a good bank that I happy with and continue to have a good relationship with.
I'm usually not a fan of online but the application process was easy, hardest part was scanning all my documents and uploading. Processing my application was quick and settlement of my refinance was painless. The couple of times I have needed to contact them the online chat has been answered pretty quickly. Couple minor appearance only issues in the "app" but otherwise they have been significantly better than who I was previously with.
This is a no frills bank, no branch available , all communication is online or via phone but staff have always been helpful . Low interest rate and low fees. Would recommend.
Great rates, good options for multiple offset accounts and fast local customer service. Easy to use app.
Delays in home loan application due to glitches in online application system, slow responce times, and jumping through hoops to gain approval. Now that we gain approval, Ubank will not honor cash back offer if our settlement occurs 1 minute past June 30 deadline, despite their involvment in delays. No guarantee settlement will occur in time. Hence i declined the offer after many hours of effort.
Completing the application was interesting, in giving them access to all your banking accounts then they estimated your expenses, which for empty nesters having an amount included as education/childcare seemed odd. Difficult to change the computer-generated figures, if allowed at all then we hit the verification process. Oh my god what a slow, cumbersome process this proved to be. Finally gave up :(
Ubank is owned by NAB and operates under the Big Four’s banking licence.
Ubank does not have bank branches, but does have a customer service team you can speak to if you have any issues.
The only home loan offered by ubank that comes with an offset account is the Flex variable home loan. It’s a 100% offset account linked to a ubank Spend, Bills, or Save account.
You’ll pay an extra annual fee of $250 for the privilege, so make sure you take full advantage of it.
The highest loan-to-value ratio (LVR) that ubank will accept is 85%. This means that you’ll at least need to have a 15% house deposit, minimum, to get a new home with ubank.
Ubank offers interest-only (IO) home loans for both owner-occupiers and property investors. You can compare interest-only home loans on Mozo to see if a ubank IO home loan is the most competitive option for you.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.