UBank UHomeLoan - Offer

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 between $200,000 and $699,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $700,000 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 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 $699,999

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $700,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $100,000 $2,000,000

3.74% p.a.

3.74% p.a.

$0.00

UBank UHomeLoan - Offer

3.74% p.a.

3.74% p.a.

$0.00

3.59% p.a.

3.59% p.a.

$0.00

UBank UHomeLoan - Offer

3.59% p.a.

3.59% p.a.

$0.00

3.59% p.a.

3.59% p.a.

$0.00

UBank UHomeLoan - Offer

3.59% p.a.

3.59% p.a.

$0.00

4.13% p.a.

4.13% p.a.

$0.00

UBank UHomeLoan - Offer

4.13% p.a.

4.13% p.a.

$0.00

Mozo Review   UBank UHomeLoan - Offer Review

Last updated: 8 August 2018.

What's hot:
  • 3.59% variable interest rate for loans over $200,000

  • No annual fees

  • Free extra repayments and redraw facility

What's not:
  • No offset account available

Mozo snapshot:

The 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 3.74% for owner occupier, principal and interest loans. For loans over $200k, the rate is even better at 3.59%. 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 24 September 2018.

Rates
  • 3.74% p.a.

  • n/a

  • 0 Months

  • none

  • 3.74% 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

  • none

  • $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

  • $0.00

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 24 September 2018.

Rates
  • 3.59% p.a.

  • n/a

  • 0 Months

  • none

  • 3.59% 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

  • none

  • $0.00

  • $0.00

Other financial bits
  • $200,000

  • $699,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 24 September 2018.

Rates
  • 3.59% p.a.

  • n/a

  • 0 Months

  • none

  • 3.59% 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

  • none

  • $0.00

  • $0.00

Other financial bits
  • $700,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 24 September 2018.

Rates
  • 4.13% p.a.

  • n/a

  • 0 Months

  • none

  • 4.13% 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

  • none

  • $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

Customer Reviews

How are UBank home loans rated by the Mozo community?

Overall customer rating
5.2/10
Price
8.4/10
Features
5.4/10
Customer service
4.5/10
Convenience
4.7/10
Trust
4.9/10

Latest reviews of UBank UHomeLoan - Offer

  • Overall
    0/10
    Cheap and nasty.

    Twice bitten, thrice shy. I should have remembered how terrible UBank was from the last time we...

    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.

    Price
    1/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10

    Paul | New South Wales

    reviewed almost 3 years ago

  • Overall
    1/10
    Ridiculously slow. Bad processes.

    Ubank is terribly slow. Do not go with ubank. Their system is just so bad. The staff are ok...

    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.

    Price
    6/10
    Features
    6/10
    Customer service
    4/10
    Convenience
    0/10
    Trust
    5/10

    Jesse | Queensland

    reviewed about 3 years ago

  • Overall
    6/10
    Great rate but that's it

    Good rates, but basically crap at everything else. Crap app, and have to relog in to another site...

    Good rates, but basically crap at everything else. Crap app, and have to relog in to another site to access mortgage.

    Price
    8/10
    Features
    3/10
    Customer service
    5/10
    Convenience
    0/10
    Trust
    4/10

    Cliff | New South Wales

    reviewed about 3 years ago

  • Overall
    8/10
    Competitive rates

    Pros:Great interest rate, 24hr call centre and easy online access to accounts. Cons:Slow...

    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.

    Price
    10/10
    Features
    7/10
    Customer service
    5/10
    Convenience
    7/10
    Trust
    5/10

    Thi | Victoria

    reviewed over 3 years ago

  • Overall
    10/10
    Great interest rate and customer service

    I am very impressed with UBank. I have been with them for some years, they are efficient and...

    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.

    Price
    10/10
    Features
    5/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Pam | South Australia

    reviewed over 3 years ago

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.

See UBank home loans

*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.