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

  • 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

2.99% p.a.

2.99% p.a.

$0.00

UBank UHomeLoan - Discount Offer

2.99% p.a.

2.99% p.a.

$0.00

2.84% p.a.

2.84% p.a.

$0.00

UBank UHomeLoan - Discount Offer

2.84% p.a.

2.84% p.a.

$0.00

3.38% p.a.

3.38% p.a.

$0.00

UBank UHomeLoan - Discount Offer

3.38% p.a.

3.38% p.a.

$0.00

Mozo Review   UBank UHomeLoan - Discount Offer Review

Last updated: 29 October 2019.

What's hot:
  • 2.84% variable interest rate for loans over $200,000 (2.84% 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 and it's sure to impress. For loans over $200k, borrowers can snag seriously competitive rates as low as 2.84% (2.84% 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 from as little as 2.84% (2.84% comparison rate*) for borrowers taking out a loan of $200,000 or more, as well as 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 14 November 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
  • 2.99% p.a.

  • n/a

  • n/a

  • n/a

  • 2.99% 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

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 14 November 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
  • 2.84% p.a.

  • n/a

  • n/a

  • n/a

  • 2.84% 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 - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 14 November 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
  • 3.38% p.a.

  • n/a

  • n/a

  • n/a

  • 3.38% 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 - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*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.

Customer Reviews

How are UBank home loans rated by the Mozo community?

Overall customer rating
8.4/10
Price
9.5/10
Features
6.8/10
Customer service
8.2/10
Convenience
7.6/10
Trust
8.2/10
UBank

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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2.84% p.a.

$0

Promoted

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3.24% p.a. variable

3.28% p.a.

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3.03% p.a. variable

3.04% p.a.

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Rate Buster High Lend Variable

2.77% p.a. variable

2.78% p.a.

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Newcastle Permanent

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Real Deal Home Loan

3.19% p.a. variable

3.23% p.a.

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Queensland Country Credit Union

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RateSaver (Fixed)

3.49% p.a.
fixed 3 years

3.90% p.a.

$500

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Achieve Variable Home Loan

3.20% p.a. variable

3.25% p.a.

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2.84% p.a. variable

2.84% p.a.

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Rate Buster High Lend Variable

2.77% p.a. variable

2.78% p.a.

Promoted

Suncorp

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Back to Basics

3.03% p.a. variable

3.04% p.a.

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ANZ

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Simplicity PLUS

3.24% p.a. variable

3.28% p.a.

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2.84% p.a.

2.84% p.a.

$0

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loans.com.au

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Smart Home Loan

2.88% p.a.

2.90% p.a.

$520

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ANZ

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Simplicity PLUS

3.24% p.a.

3.28% p.a.

$0

Promoted

Suncorp

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Back to Basics

3.03% p.a.

3.04% p.a.

$0

Promoted

Newcastle Permanent

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Real Deal Home Loan

3.19% p.a.

3.23% p.a.

$0

Promoted

Reduce Home Loans

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Rate Buster High Lend Variable

2.77% p.a.

2.78% p.a.

$0

Promoted

CUA

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Achieve Variable Home Loan

3.20% p.a.

3.25% p.a.

$835

Promoted

Tic:Toc

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2.84% p.a.

2.85% p.a.

$0

Promoted

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UHomeLoan (Fixed)

2.69% p.a.
fixed 3 years

3.19% p.a.

$395

Promoted

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Fixed Home Loan

2.99% p.a.
fixed 3 years

3.27% p.a.

$520

Promoted

Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.89% p.a.
fixed 3 years

3.70% p.a.

$0

Promoted

ANZ

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Fixed Rate (Breakfree Package)

2.98% p.a.
fixed 3 years

4.06% p.a.

$0

Promoted

Queensland Country Credit Union

Queensland Country Credit Union

RateSaver (Fixed)

3.49% p.a.
fixed 3 years

3.90% p.a.

$500

Promoted

IMB Bank

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2.84% p.a.
fixed 3 years

3.44% p.a.

$799

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UHomeLoan (1 Year Fixed)

n/a

n/a

$395

Promoted

CUA

CUA

Fixed Rate Loan

2.98% p.a.
fixed 3 years

4.29% p.a.

$835

Promoted

loans.com.au

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Smart Home Loan

2.88% p.a.

2.90% p.a.

$0.00

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.84% p.a.

2.84% p.a.

$0.00

Promoted

Reduce Home Loans

Reduce Home Loans

Rate Buster High Lend Variable

2.77% p.a.

2.78% p.a.

$0.00

Promoted

Tic:Toc

Tic:Toc

Variable Home Loan

2.84% p.a.

2.85% p.a.

$0.00

Promoted

Bank of Sydney

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BOSBasic Home Loan

2.96% p.a.

3.01% p.a.

$0.00

*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.