ubank home loans

2.9
Based on 40 ubank home loan product reviews.
Fact Checked
Last updated

About ubank home loans

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Ubank Neat variable home loan review

Neat Home Loan

  • Owner Occupier
  • Principal & Interest
  • LVR <60%
Interest rate
6.09 % p.a.
Variable
Comparison rate
6.11 % p.a.
Go to site
  • 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.

Our verdict

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.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 426 home loans using the filters.
Last updated 15 December 2024 Important disclosures and comparison rate warning*
What are your home loan needs?

Your loan-to-value ratio (LVR): 50%

Loan amount and LVR will affect interest rates.

  • Flex Home Loan

    • Fixed
    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.79 % p.a.
    Fixed 2 years
    Comparison rate
    6.27 % p.a.
    Initial monthly repayment
    $2,931
    Go to site

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Flex Home Loan

    • Fixed
    • Investor
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Fixed 2 years
    Comparison rate
    6.43 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Flex Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.33 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

  • Neat Home Loan

    • Investor
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.24 % p.a.
    Variable
    Comparison rate
    6.26 % p.a.
    Initial monthly repayment
    $3,075
    Go to site

  • Flex Home Loan

    • Investor
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.24 % p.a.
    Variable
    Comparison rate
    6.48 % p.a.
    Initial monthly repayment
    $3,075
    Go to site

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ubank home loan ratings

Overall customer rating for ubank home loans

2.9
Based on 40 product reviews.

Customer reviews

Important disclosures

ubank products

FAQs about ubank home loans

Who owns ubank?

Ubank is owned by NAB and operates under the Big Four’s banking licence.

Does ubank have branches?

Ubank does not have bank branches, but does have a customer service team you can speak to if you have any issues.

Does ubank have an offset account?

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.  

What is the maximum LVR that ubank will accept?

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.  

Does ubank offer interest-only home loans?

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. 

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* 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.