Rates and fees verified as correct at 24 January 2022. Other information correct at the time of writing. Advertiser disclosure.
With a fixed rate home loan from UBank, owner occupiers and investors can get repayment certainty for 1, 3 or 5 years on loans starting from $100,000 up to a maximum of $2,000,000. The UHomeLoan (Fixed) comes with no application or ongoing fees but you may be charged a different fixed rate depending on the purpose of your loan (i.e. home ownership vs investment) and whether you choose a principal and interest or interest-only repayment option. You have the option to make extra repayments during the fixed term of your loan (up to a maximum of $20,000 p.a.) but you won’t have the flexibility of a redraw facility should you need to free up funds later. 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).
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments | |
|---|---|---|---|---|---|---|
| 2.74% p.a. | 2.35% p.a. | $0.00 | $395 | Go to site | ||
| 2.94% p.a. | 2.51% p.a. | $0.00 | $395 | |||
| 2.49% p.a. | 2.29% p.a. | $0.00 | $395 | Go to site | ||
| p.a. | n/a | $0.00 | $0 | Go to site | ||
| 2.69% p.a. | 2.45% p.a. | $0.00 | $395 | |||
| 2.64% p.a. | 2.44% p.a. | $0.00 | $395 | Go to site | ||
| 2.79% p.a. | 2.47% p.a. | $0.00 | $395 | Go to site |
UBank also offers a selection of variable rate home loans depending on whether you’re an owner occupier or an investor: the UHomeLoan - Discount Offer or UHomeLoan - Investor Extra Offer. UBank’s competitive variable offers are available on loans starting from $100,000 and you can borrow up to 80% of your property’s value. You won’t have to pay any application or ongoing monthly fees to access the full range of features available including extra repayment flexibility, a redraw facility if you’re ahead of your scheduled repayments and the choice between weekly, fortnightly or monthly repayments.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments | |
|---|---|---|---|---|---|---|
| 1.99% p.a. | 1.99% p.a. | $0.00 | $0 | Go to site | ||
| 2.34% p.a. | 2.34% p.a. | $0.00 | $0 | |||
| 2.88% p.a. | 2.46% p.a. | $0.00 | $0 | |||
| 3.03% p.a. | 2.61% p.a. | $0.00 | $0 | |||
| 2.60% p.a. | 2.52% p.a. | $0.00 | $0 | Go to site | ||
| 2.34% p.a. | 2.34% p.a. | $0.00 | $0 |
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.
As an online bank, UBank has passed on its cost savings to customers through no application or ongoing fees on any of its fixed or variable home loans, as well as some seriously competitive interest rates.
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.
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.
32 Reviews
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 reviewAwful 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.
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 reviewNo 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.
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 reviewThe 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!
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 reviewDo 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.
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 reviewI 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!
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: