UBank UHomeLoan (1 Year Fixed)

p.a.

n/a

$0.00

UBank UHomeLoan (1 Year Fixed)

p.a.

n/a

$0.00

Mozo Review   UBank UHomeLoan (1 Year Fixed) Review

Last updated: 29 October 2019.

What's hot:
  • Low fixed 2.74% interest rate (3.38% comparison rate*) for 1 year

  • Free extra repayments up to $20,000 (per year)

  • No service fee

What's not:
  • $395 application fee

Mozo snapshot:

If you’re looking to take advantage of a low 1 year fixed home loan rate, UBank’s UHomeLoan (1 Year Fixed) could be a good place to start and end your search. UBank offers a competitive fixed 2.74% rate (3.38% comparison rate*) in the first year as well as no ongoing fees throughout the life of your loan. Not only that, this loan gives borrowers the flexibility to make weekly, fortnightly or monthly repayments, as well as to make free extra repayments up to $20,000 a year.

Key features:

UBank’s UHomeLoan (1 Year Fixed) offers one of the lowest rates in Mozo’s database at 2.74% (3.38% comparison rate*) in the first year of your loan. You can borrow up to 80% of the property value, anywhere between $100,000 and $2,000,000. 

An attractive feature of the UBank UHomeLoan (1 Year Fixed) is that you can make repayments at a frequency that suits you, whether that’s weekly, fortnightly or monthly. 

But that’s not all. If you make your regular repayments on time, you’ll be able to make free extra repayments of up to $20,000 p.a. Make sure you tread with a bit of caution before you throw all your money at your home loan however. The UBank UHomeLoan doesn’t have a redraw facility, so you won’t be able to access those extra contributions if you need to later on. 

Not only do borrowers receive a low rate in the first year and flexible repayment options on this loan, there are no ongoing fees. Keep in mind though, UBank does charge a $395 application fee straight off the bat. 

Also remember that after the first year, your loan will revert from the 1st year fixed rate to a higher 3.85% interest rate.

Who it's good for:

The UBank UHomeLoan (1 Year Fixed) could be the perfect home loan for someone wanting both repayment stability and flexibility, but most importantly, a seriously competitive rate for the first year of the loan.

Any catches?

While there aren’t any ongoing fees on this home loan, keep in mind you will be charged a $395 fee when you first apply.

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
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.74% (3.38%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • 3.42% p.a.

Fees
  • $395.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $100,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $20,000 p.a.

  • no

  • no

  • none

  • yes

  • no

  • 1 year fixed rate reverts to 4.17%. 3 and 5 year fixed rate terms revert to 4.07% inclusive of 0.10% p.a loyalty discount.

  • 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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2.78% p.a.

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3.49% p.a.
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3.90% p.a.

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Smart Home Loan

2.88% p.a. variable

2.90% p.a.

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UHomeLoan - Discount Offer

2.84% p.a. variable

2.84% p.a.

$0

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3.24% p.a. variable

3.28% p.a.

$0

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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.

$0

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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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3.49% p.a.
fixed 3 years

3.90% p.a.

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3.20% p.a. variable

3.25% p.a.

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2.88% p.a. variable

2.90% p.a.

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UHomeLoan - Discount Offer

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.

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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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UHomeLoan - Discount Offer

2.84% p.a.

2.84% p.a.

$0

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2.88% p.a.

2.90% p.a.

$520

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3.24% p.a.

3.28% p.a.

$0

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Suncorp

Suncorp

Back to Basics

3.03% p.a.

3.04% p.a.

$0

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Newcastle Permanent

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3.19% p.a.

3.23% p.a.

$0

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Rate Buster High Lend Variable

2.77% p.a.

2.78% p.a.

$0

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CUA

CUA

Achieve Variable Home Loan

3.20% p.a.

3.25% p.a.

$835

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Tic:Toc

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2.84% p.a.

2.85% p.a.

$0

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2.69% p.a.
fixed 3 years

3.19% p.a.

$395

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Fixed Home Loan

2.99% p.a.
fixed 3 years

3.27% p.a.

$520

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Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.89% p.a.
fixed 3 years

3.70% p.a.

$0

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ANZ

ANZ

Fixed Rate (Breakfree Package)

2.98% p.a.
fixed 3 years

4.06% p.a.

$0

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Queensland Country Credit Union

Queensland Country Credit Union

RateSaver (Fixed)

3.49% p.a.
fixed 3 years

3.90% p.a.

$500

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IMB Bank

IMB Bank

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2.84% p.a.
fixed 3 years

3.44% p.a.

$799

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UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

$395

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CUA

CUA

Fixed Rate Loan

2.98% p.a.
fixed 3 years

4.29% p.a.

$835

*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.