UBank UHomeLoan - Discount Offer
This product is available in different versions. Pick the right version for you here.
The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $199,999 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $200,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $2,000,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $100,000 | $199,999 |
| | Owner Occupier | Principal & Interest | < 80% | $200,000 | |
| | Owner Occupier | Interest Only | < 80% | $100,000 | $2,000,000 |
-
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $100,000 $199,999
-
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $200,000
-
Owner Occupier (Interest Only)
LVR < 80%
Loan: $100,000 $2,000,000
UBank UHomeLoan - Discount Offer
UBank UHomeLoan - Discount Offer
3.63% p.a.
3.63% p.a.
$0.00
UBank UHomeLoan - Discount Offer
3.63% p.a.
3.63% p.a.
$0.00
3.63% p.a.
3.63% p.a.
$0.00
Mozo Review UBank UHomeLoan - Discount Offer Review
Last updated: 2 August 2019.
What's hot:
3.09% variable interest rate for loans over $200,000 (3.09% p.a. comparison rate*)
Free extra repayments and redraw facility
No annual fees
Two 2019 Mozo Experts Choice Awards
What's not:
No offset account available
Mozo snapshot:
The 2019 Mozo Experts Choice Award winning UBank UHomeLoan is available for refinancing and new purchases. For a limited time you can get a Discount Offer which knocks 0.43% off the standard variable rate for loans below $200k, taking the UHomeLoan rate to just 3.24% (3.24% comparison rate*) for owner occupier, principal and interest loans. For loans over $200k, the rate is even better at 3.09% (3.09% comparison rate*). The loan also offers free extra repayments and a free redraw facility, plus UBank is also backed by NAB so you have the security of a big bank.
Key features:
The UBank UHomeloan comes with competitive low rate tiers and no upfront or ongoing fees. You must apply for the home loan online, in fact the entire home loan is online - so get your digital skills ready. You'll get 24 hour Australian-based phone support if you need it and once you've applied you can keep track of your application with the online 'Application Tracker', so you know just where you are in the approval process.
Once you've been approved for the home loan, the flexibility on offer will not disappoint. There's a split account feature, which gives you the option of splitting your home loan up to 4 times, with a minimum split amount of $20,000. The UBank UHomeLoan also has a interest only payment option for an agreed period. While this may reduce your financial pressure, you won't be paying off the principal, so only do this for a short time.
Get paid weekly? Well, you'll be happy to hear that you have the option to choose between weekly, fortnightly and monthly repayments. When your finances are booming, you can make extra repayments through direct debit, salary crediting, BPAY and EFTPOS. But if you ever need to get that cash back, the home loan has a redraw facility over the phone.
Who it's good for:
The UBank UHomeLoan is made for anyone looking to switch to a low variable interest rate home loan, with the added benefit of extra repayments.
Any catches?
The Discount Offer is only available on new variable rate UHomeLoan applications, so if you already have a UHomeLoan you wont be eligible.
Details
Rates and fees information correct as at 18 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
3.24% p.a.
-
n/a
-
n/a
-
n/a
-
3.24% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$0.00
-
$0.00
Other financial bits
-
$100,000
-
$199,999
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none
-
80.00%
Features
-
Owner Occupier
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
no
-
yes
-
$0.00
-
yes
-
no
-
none
-
none
-
none
Details
Rates and fees information correct as at 18 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
3.09% p.a.
-
n/a
-
n/a
-
n/a
-
3.09% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$0.00
-
$0.00
Other financial bits
-
$200,000
-
none
-
none
-
80.00%
Features
-
Owner Occupier
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
no
-
yes
-
$0.00
-
yes
-
no
-
none
-
none
-
none
Details
Rates and fees information correct as at 18 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
3.63% p.a.
-
n/a
-
n/a
-
n/a
-
3.63% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$0.00
-
$0.00
-
$0.00
-
n/a
-
$0.00
-
$0.00
Other financial bits
-
$100,000
-
$2,000,000
-
none
-
80.00%
Features
-
Owner Occupier
-
Interest Only
-
Weekly, Fortnightly, Monthly
-
yes - free
-
no
-
yes
-
$0.00
-
yes
-
no
-
none
-
none
-
none
Customer Reviews
How are UBank home loans rated by the Mozo community?
Latest reviews of UBank UHomeLoan - Discount Offer
- Overall0/10
Cheap and nasty.
Twice bitten, thrice shy. I should have remembered how terrible UBank was from the last time we...
Read full review
Twice bitten, thrice shy. I should have remembered how terrible UBank was from the last time we used them. With a few exceptions, the customer service is non-existent. We had to upload documents multiple times and then they took so long in processing everything we had to supply updated documents. Within a month of doing the finance, they changed the terms of the loan (which legally they are entitled to) and increased our interest rate by 0.2%. We had such a negative experience sorting that out, we decided to refinance to a different provider and that was a ridiculously long and drawn our process - basically, UBank did as little as possible, as slowly as possible to allow the refinance. It ended up taking over a month to get it done. We will never deal with them again.
Price1/10Features0/10Customer service0/10Convenience0/10Trust0/10Less
Paul | New South Wales
reviewed over 3 years ago
- Overall1/10
Ridiculously slow. Bad processes.
Ubank is terribly slow. Do not go with ubank. Their system is just so bad. The staff are ok...
Read full review
Ubank is terribly slow. Do not go with ubank. Their system is just so bad. The staff are ok but if you are looking for a lender who can get the job done then don't waste time with these guys. My application is clean and highly serviceable. Low risk. Because of ubank I have missed out on an important auction. Wished I'd gone with another lender. Time wasters.
Price6/10Features6/10Customer service4/10Convenience0/10Trust5/10Less
Jesse | Queensland
reviewed about 4 years ago
- Overall6/10
Great rate but that's it
Good rates, but basically crap at everything else. Crap app, and have to relog in to another site...
Read full review
Good rates, but basically crap at everything else. Crap app, and have to relog in to another site to access mortgage.
Price8/10Features3/10Customer service5/10Convenience0/10Trust4/10Less
Cliff | New South Wales
reviewed about 4 years ago
- Overall8/10
Competitive rates
Pros:Great interest rate, 24hr call centre and easy online access to accounts. Cons:Slow...
Read full review
Pros:Great interest rate, 24hr call centre and easy online access to accounts. Cons:Slow application process, bad customer service and it's only an internet bank.
Price10/10Features7/10Customer service5/10Convenience7/10Trust5/10Less
Thi | Victoria
reviewed about 4 years ago
- Overall10/10
Great interest rate and customer service
I am very impressed with UBank. I have been with them for some years, they are efficient and...
Read full review
I am very impressed with UBank. I have been with them for some years, they are efficient and friendly and offer 24 hour phone support. Applying for the loan was a bit tiresome, but after that they have been great.
Price10/10Features5/10Customer service10/10Convenience10/10Trust10/10Less
Pam | South Australia
reviewed about 4 years ago
About UBank
UBank is a new direct bank which is backed by NAB, one of Australia's big four banks. UBank launched in 2008 with a competitive term deposit product, which customers can apply for and manage online. As a direct bank, UBank doesn't have a branch network but it does have a 24-hour, seven day a week 'person to person' phone banking centre for those wanting to speak to a real person. Cost savings are passed onto customers in the form of higher rates and lower fees. UBank now has a range of competitive term deposits, super and savings accounts. In 2011, it launched UHomeloan for refinancing its first home loan product.
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