based on 876 ubank banking product reviews as rated by Mozo community

ubank home loans

ubank is an online bank backed by NAB. Having launched in 2008, ubank has since expanded its offerings to include term deposits, bank accounts and home loans. As an online bank, ubank doesn’t have a branch network, but borrowers can seek assistance online or over the phone.

If you love the convenience of online banking, ubank could be a lender worthy of your attention. Plus, in 2022 ubank took home three separate Mozo Experts Choice Home Loan Awards in the Split Home Loan, Investor Home Loan and Investor Fixed Home Loan categories.

What home loans do ubank offer?

Rates and fees verified as correct at 17 August 2022. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

With a fixed rate home loan from ubank, owner occupiers and investors can get repayment certainty for 1, 2, 3 or 5 years. The Own Home Loan is relatively light on fees, and you'll have the option to make extra repayments during the fixed term of your loan (up to a maximum of $20,000 p.a.). There is also a rate lock feature available where you can secure the advertised interest rate up until the settlement of the loan if you’re losing sleep over possible interest rate rises in the future (fees apply).

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

6.23% p.a.

4.75% p.a.

$250.00 yearly

$250

5.59% p.a.

4.60% p.a.

$250.00 yearly

$250

Go to site

5.79% p.a.

5.17% p.a.

$250.00 yearly

$250

6.23% p.a.

4.83% p.a.

$250.00 yearly

$250

5.79% p.a.

4.73% p.a.

$250.00 yearly

$250

Variable Rate Home Loans

ubank also offers a selection of variable rate home loans, wth different rates available depending on your LVR. While there are no application fees, borrowers should be aware of the settlement, discharge, and yearly service fee. Borrowers will also have access to a number of useful features, including unlimited extra repayments, a redraw facility, and the choice between making weekly, fortnightly or monthly repayments. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

4.19% p.a.

4.08% p.a.

$0.00

$250

4.29% p.a.

4.18% p.a.

$0.00

$250

4.09% p.a.

3.98% p.a.

$0.00

$250

3.99% p.a.

4.01% p.a.

$0.00

$250

4.09% p.a.

4.11% p.a.

$0.00

$250

3.89% p.a.

3.91% p.a.

$0.00

$250

3.74% p.a.

3.76% p.a.

$0.00

$250

Go to site

3.84% p.a.

3.86% p.a.

$0.00

$250

4.44% p.a.

4.46% p.a.

$0.00

$250

3.64% p.a.

3.66% p.a.

$0.00

$250

Go to site

4.49% p.a.

4.36% p.a.

$250.00 yearly

$250

4.54% p.a.

4.41% p.a.

$250.00 yearly

$250

4.59% p.a.

4.46% p.a.

$250.00 yearly

$250

3.89% p.a.

4.15% p.a.

$250.00 yearly

$250

Go to site

3.94% p.a.

4.20% p.a.

$250.00 yearly

$250

3.99% p.a.

4.25% p.a.

$250.00 yearly

$250

4.59% p.a.

4.84% p.a.

$250.00 yearly

$250

4.14% p.a.

4.28% p.a.

$250.00 yearly

$250

4.19% p.a.

4.33% p.a.

$250.00 yearly

$250

4.24% p.a.

4.38% p.a.

$250.00 yearly

$250

3.99% p.a.

4.25% p.a.

$250.00 yearly

$250

4.04% p.a.

4.30% p.a.

$250.00 yearly

$250

4.09% p.a.

4.35% p.a.

$250.00 yearly

$250

ubank home loan features in a glance

Home loan icon

Manage your home loan

Choosing a home loan with ubank means you can manage your home loan from the comfort of your own couch, or bed, or anywhere really. In case you’re not comfortable using a provider without a physical branch, head on over to our comparison tool and choose a provider with an extensive branch network.

Image of coins

No application fees

As an online bank, ubank has passed on its cost savings to customers through its competitive interest rates and products that are light on fees.

Deposit icon

Rate lock

When you sign up to ubank’s fixed rate you can use the optional rate lock feature as an added guarantee that you will be charged the advertised interest rate even if there is a rate rise before the loan settles. Be mindful you will be charged a fee to use this feature.

How are ubank home loans rated?

Mozo users have rated ubank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
ubank home loans
Overall
Price
Features
Customer service
Convenience
Trust

32 Reviews

Recent ubank home loan reviews

ubank UHomeLoan - Investor Extra Offer
Overall 1/10
Avoid.

Awful customer service. Very slow to deal with. String you along for a couple of weeks then find roadblocks to progress with loan application. You will loose contracts relying on this bank.

Read full review

Awful customer service. Very slow to deal with. String you along for a couple of weeks then find roadblocks to progress with loan application. You will loose contracts relying on this bank.

Price
5/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Kris, Queensland, reviewed 10 months ago
ubank Home Loan
Overall 9/10
No frills

No frills home loan, low rates and flexibility to pay off extra. Only downfall is 30 yr term so best to pay it ahead if possible in this climate.

Read full review

No frills home loan, low rates and flexibility to pay off extra. Only downfall is 30 yr term so best to pay it ahead if possible in this climate.

Price
9/10
Features
7/10
Customer service
8/10
Convenience
9/10
Trust
8/10
Less
Natalie, Western Australia, reviewed 12 months ago
ubank Home Loan
Overall 3/10
Terrible app

The worst app I've ever used for banking. I will leave this bank purely on the failure of the mobile app. Terrible and clunky, never updated. The Perks of a budget bank!

Read full review

The worst app I've ever used for banking. I will leave this bank purely on the failure of the mobile app. Terrible and clunky, never updated. The Perks of a budget bank!

Price
6/10
Features
3/10
Customer service
3/10
Convenience
2/10
Trust
4/10
Less
Fiona, Victoria, reviewed about 1 year ago
ubank Home Loan
Overall 1/10
U Bank very band customer service complex process

Do not recommend to apply for home loans there. I have applied for refinance and they ask for too much of information which does not make sense. I have been asked to provide a letter from The company confirming my position and annual salary even though i have provided with pay slips and a contract letter clearly saying all details requested. The home loan specialists are non reachable and not customer focused. Unnecessary delays. Would not recommend.

Read full review

Do not recommend to apply for home loans there. I have applied for refinance and they ask for too much of information which does not make sense. I have been asked to provide a letter from The company confirming my position and annual salary even though i have provided with pay slips and a contract letter clearly saying all details requested. The home loan specialists are non reachable and not customer focused. Unnecessary delays. Would not recommend.

Price
4/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Ashraful, New South Wales, reviewed about 1 year ago
ubank Home Loan
Overall 1/10
AVOID! There is a reason their rates are low.

I refinanced to Ubank a bit over a year ago, I am now trying to leave, that should tell you everything you need to know about this mob. They are an online only bank which you would think would mean their processes are built from the ground with modern features but they are so far behind it's not funny. There was no option to pay my mortgage myself, it had to be direct debited when they wanted to do it and if I wanted to change the account that came from, I had to print out and complete a form, scan it and send it back for processing! I am now refinancing elsewhere and again need to physically sign a discharge form which means getting a print out, scanning it and sending it back. Their features are garbage also. Interest get's added to the loan on a daily basis so the loan amount is constantly fluctuating and it generally takes 2 or 3 days for the amounts to reflect from the date they took the money and the redrawn appears be impacted every time the mortgage is due, then 2 or 3 days later it goes back to what you actually have in redraw. Their rates were once a main draw card but they are no longer that competitive and with the awful service experience, there is no benefit in staying with them. Steer clear of this company, if you must go for a more competitive lender, try anyone else with systems and processes based in this century!

Read full review

I refinanced to Ubank a bit over a year ago, I am now trying to leave, that should tell you everything you need to know about this mob. They are an online only bank which you would think would mean their processes are built from the ground with modern features but they are so far behind it's not funny. There was no option to pay my mortgage myself, it had to be direct debited when they wanted to do it and if I wanted to change the account that came from, I had to print out and complete a form, scan it and send it back for processing! I am now refinancing elsewhere and again need to physically sign a discharge form which means getting a print out, scanning it and sending it back. Their features are garbage also. Interest get's added to the loan on a daily basis so the loan amount is constantly fluctuating and it generally takes 2 or 3 days for the amounts to reflect from the date they took the money and the redrawn appears be impacted every time the mortgage is due, then 2 or 3 days later it goes back to what you actually have in redraw. Their rates were once a main draw card but they are no longer that competitive and with the awful service experience, there is no benefit in staying with them. Steer clear of this company, if you must go for a more competitive lender, try anyone else with systems and processes based in this century!

Price
6/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
2/10
Less
Andrew, New South Wales, reviewed about 1 year ago

What do you need to apply for a ubank home loan?

To apply for a UBank home loan, you will need to complete and submit an online application. In order to finalise your home loan application, you’ll need to supply the following documents:

  • Personal details for each applicant (if necessary)
  • Contact details including a valid email address
  • Proof of salary (i.e. payslips) and evidence of other income including government payments and rental income
  • Statements for any liabilities including credit cards or other existing loans
  • A copy of your council rates notice
  • A copy of your driver's licence or passport
  • Home loan statements (if you’re refinancing)

Home loan quick links