UBank UHomeLoan (Fixed)

3.99% p.a.

4.15% p.a.

$0.00

3.99% p.a.

4.15% p.a.

$0.00

4.09% p.a.

4.53% p.a.

$0.00

UBank UHomeLoan (Fixed) Review

Rates and fees information correct as at 20 August 2017.

Review published: 24 July 2014

What's hot:

  • Competitive rates for range of fixed terms

  • Online application

  • Mozo's Experts Choice Award Winner 2017

What's not:

  • No redraw

Mozo snapshot:

Want to lock in a low home loan rate? Online lender UBank's UHomeLoan offers competitive rates for a range of fixed terms giving it top honours at this year's Mozo Experts Choice Awards for Best Value Low Cost Loan, Best Value Fixed Rate Investor Home Loan and Best Value Split Home Loan. You can apply for and manage your UHomeLoan totally online but there is a $395 application fee. 

Key features:

The UBank UHomeLoan fixed rate option comes in three varieties - 1, 3 and 5 years. The 1 year rate is a low 3.69% p.a., for 3 years the rate is 3.99% p.a and for 5 years the rate is 4.39% p.a.

With the fixed rate UHomeLoan there is a $395 application fee. You can borrow up to 80% of the property value and the loan is available for loans from $100,000 up to $1,000,000 up to a 30 year period.

One of the great benefits of choosing to get your home loan with an online lender is that you can apply for your home loan when it suits you and manage the whole thing from the comfort of your couch.

You can choose weekly, fortnightly or monthly repayments and while you can make extra repayments there isn't a redraw facility with the fixed rate loan so you won't be able to redraw the money again should you need it later on.

Who it's good for:

Those that want interest rate and repayment certainty for a set period of time and feel comfortable doing all the work over the web or via a call centre.

Any catches?

If you find yourself flushed with cash you can make extra repayments with the UHomeLoan fixed loan but just be aware that this is capped at $20,000 over the life of the loan.

While UBank is backed by NAB you don't have access to a branch network but 24/7 online and phone support should be all you need for securing and managing your home loan.

How are UBank home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
4.8

Based on 56
UBank home loans reviews

8.3 5.4 4.5 4.5 4.6

Read UBank home loan reviews by the Mozo community

Latest reviews of UBank UHomeLoan (Fixed)

UBank

UBank UHomeLoan (Owner Occupier, Principal & Interest) (Fixed) home loan review

Overall rating   9 / 10

Dependable

Took long time processing application, Cheapest interest rate, can withdraw money from loan

Took long time processing application, Cheapest interest rate, can withdraw money from loan

    Price   10 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Silda (QLD), reviewed over 1 year ago

UBank

UBank UHomeLoan (Owner Occupier, Principal & Interest) (Fixed) home loan review

Overall rating   10 / 10

Quality customer service!

Application process was simple, quick & efficient. Interest rates are competitive & redraw facilities are an added bonus.

Application process was simple, quick & efficient. Interest rates are competitive & redraw facilities are an added bonus.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Kerry (NSW), reviewed over 2 years ago

UBank

UBank UHomeLoan (Owner Occupier, Principal & Interest) (Fixed) home loan review

Overall rating   10 / 10

Online, on time and sublime!

They are froozling awesome, as they have the most bodacious interest rates, and wickedly super simple online services. Ubank are a force to be reckoned with... Ubank, Ubetcha!

They are froozling awesome, as they have the most bodacious interest rates, and wickedly super simple online services. Ubank are a force to be reckoned with... Ubank, Ubetcha!

    Price   10 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Aldo (VIC), reviewed over 3 years ago

UBank

UBank UHomeLoan (Owner Occupier, Principal & Interest) (Fixed) home loan review

Overall rating   10 / 10

Great product but customer service could improve

I have a split loan. The majority is fixed rate interest only and UBank had the lowest interest rate by far. Went from well over $600 per fortnight on a variable loan with my old bank to just over $600 per month with a split UBank loan....

I have a split loan. The majority is fixed rate interest only and UBank had the lowest interest rate by far. Went from well over $600 per fortnight on a variable loan with my old bank to just over $600 per month with a split UBank loan. Application process was very frustrating though. I loved the tracker but some of the pedantics with the documentation I needed to provide were unnecessary, and I was constantly phoning for clarification just to keep things moving.

    Price   10 / 10

    Features   10 / 10

    Customer service   6 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Mozo reviewer (QLD), reviewed almost 4 years ago

UBank

UBank UHomeLoan (Owner Occupier, Principal & Interest) (Fixed) home loan review

Overall rating   2 / 10

Good rates, service is friendly but not helpful

The rates were great, so looked at the 3 year fixed rate home loan. I've had savings and term deposits with U bank and been really happy, so thought it would flow through. The application questions were easy, but a bit too simple. It's a...

The rates were great, so looked at the 3 year fixed rate home loan. I've had savings and term deposits with U bank and been really happy, so thought it would flow through. The application questions were easy, but a bit too simple. It's a refinance only option - I wanted to move my existing home loan across and put a lump sum in as well (it was the lump sum that reduced the borrowing to be less than 80% of the value). The online application didn't cope with this in any form, so I called the call centre. Calls were picked up (can't say 'answered') promptly, and that was where the help ended. When I asked questions, I kept being told "I can't give you any advice". I work in the finance industry, I understand a general advice model and my questions could have been answered, but the help I got implied that it's easier to say nothing. In the end, because I couldn't get an answer on how to apply to do what I wanted, I refinanced with my existing bank - their staff COULD answer questions!

    Price   9 / 10

    Features   6 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   7 / 10

Less

Kay (SA), reviewed over 4 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.69% (4.15%*)

  • (*)

  • 3.99% (4.15%*)

  • (*)

  • 4.39% (4.29%*)

  • (*)

  • (*)

  • 4.17% p.a.

Fees

  • $395.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.69% (4.15%*)

  • (*)

  • 3.99% (4.15%*)

  • (*)

  • 4.39% (4.29%*)

  • (*)

  • (*)

  • 4.17% p.a.

Fees

  • $395.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits

  • $100,000

  • $2,000,000

  • none

  • 80.00%

Features

  • 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

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.99% (4.62%*)

  • (*)

  • 4.09% (4.53%*)

  • (*)

  • 4.39% (4.57%*)

  • (*)

  • (*)

  • 4.66% p.a.

Fees

  • $395.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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 4.46%. 3 and 5 year fixed rate terms revert to 4.36% inclusive of 0.10% p.a loyalty discount.

  • none

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.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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