8.4 / 10

based on 860 UBank reviews as rated by Mozo community

UBank home loans

UBank is an online bank backed by NAB. Having launched in 2008, UBank has since expanded its offerings from term deposits to home loans. As an online bank, UBank doesn’t have a branch network, but borrowers can seek assistance online or over the phone.

If you love the convenience of online banking, UBank could be a lender worthy of your attention. In fact, in 2020 UBank was named our Home Lender Bank of the Year in addition to picking up four separate Mozo Experts Choice Awards for: Low Cost Home Loan, Split Home Loan, Fixed Rate Home Loan and Investor Fixed Home Loan.

What home loans do UBank offer?

Rates and fees verified as correct at 12 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

With a fixed rate home loan from UBank, owner occupiers and investors can get repayment certainty for 1, 3 or 5 years on loans starting from $100,000 up to a maximum of $2,000,000. The UHomeLoan (Fixed) comes with no application or ongoing fees but you may be charged a different fixed rate depending on the purpose of your loan (i.e. home ownership vs investment) and whether you choose a principal and interest or interest-only repayment option. You have the option to make extra repayments during the fixed term of your loan (up to a maximum of $20,000 p.a.) but you won’t have the flexibility of a redraw facility should you need to free up funds later. There is also a rate lock feature available where you can secure the advertised interest rate up until the settlement of the loan if you’re losing sleep over possible interest rate rises in the future (fees apply).

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

2.09% p.a.

2.30% p.a.

$0.00

$0

Go to site

1.75% p.a.

2.22% p.a.

$0.00

$0

Go to site

p.a.

n/a

$0.00

$0

Go to site

2.09% p.a.

2.60% p.a.

$0.00

$0

Go to site

2.24% p.a.

2.64% p.a.

$0.00

$0

Go to site

Variable Rate Home Loans

UBank also offers a selection of variable rate home loans depending on whether you’re an owner occupier or an investor: the UHomeLoan - Discount Offer or UHomeLoan - Investor Extra Offer. UBank’s competitive variable offers are available on loans starting from $100,000 and you can borrow up to 80% of your property’s value. You won’t have to pay any application or ongoing monthly fees to access the full range of features available including extra repayment flexibility, a redraw facility if you’re ahead of your scheduled repayments and the choice between weekly, fortnightly or monthly repayments. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

2.34% p.a.

2.34% p.a.

$0.00

$0

Go to site

2.88% p.a.

2.55% p.a.

$0.00

$0

3.14% p.a.

3.01% p.a.

$0.00

$0

2.74% p.a.

2.74% p.a.

$0.00

$0

UBank home loan features in a glance

Home loan icon

Manage your home loan

Choosing a home loan with UBank means you can manage your home loan from the comfort of your own couch, or bed, or anywhere really. In case you’re not comfortable using a provider without a physical branch, head on over to our comparison tool and choose a provider with an extensive branch network.

Image of coins

No application or ongoing fees

As an online bank, UBank has passed on its cost savings to customers through no application or ongoing fees on any of its fixed or variable home loans, as well as some seriously competitive interest rates.

Deposit icon

Rate lock

When you sign up to UBank’s fixed rate you can use the optional rate lock feature as an added guarantee that you will be charged the advertised interest rate even if there is a rate rise before the loan settles. Be mindful you will be charged a fee to use this feature.

How are UBank home loans rated?

Mozo users have rated UBank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
UBank home loans
Overall
6.6/10
Price
Features
Customer service
Convenience
Trust

23 Reviews

Recent UBank home loan reviews

UBank Home Loan review
Overall 1/10
Disappointing

Currently using them for a home loan They simply do not answer your phone calls or emails Made approximately 15 each ! Causing enormous amounts of stress for us.

Read full review

Currently using them for a home loan They simply do not answer your phone calls or emails Made approximately 15 each ! Causing enormous amounts of stress for us.

Price
1/10
Customer service
2/10
Less
Brian, Victoria, reviewed 2 months ago
UBank Home Loan review
Overall 9/10
Very happy, but lacking an offset account.

UBank are very competitive in interest rates. Have been very happy with them as a lender. They could improve by offering offset accounts to the home loan.

Read full review

UBank are very competitive in interest rates. Have been very happy with them as a lender. They could improve by offering offset accounts to the home loan.

Price
10/10
Features
7/10
Customer service
6/10
Convenience
9/10
Trust
7/10
Less
Liana, South Australia, reviewed 3 months ago
UBank UHomeLoan - Investor Extra Offer review
Overall 1/10
Hideous customer service, unnecessarily difficult

We have been sent in circles for 3 months for a refinance. Resubmitted the same documents several times, customer service is disgusting. Would never recommend! Have now made 2 requests for details to lodge a formal complaint, but have not been forthcoming.

Read full review

We have been sent in circles for 3 months for a refinance. Resubmitted the same documents several times, customer service is disgusting. Would never recommend! Have now made 2 requests for details to lodge a formal complaint, but have not been forthcoming.

Price
8/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Katherine, Northern Territory, reviewed 3 months ago
UBank UHomeLoan review
Overall 10/10
Low rates, great communication and excellent app

The best interest rates. Such a simple application process, great communication the whole way through. App is super easy to use. They have passed on many interest rate cuts. Brilliant.

Read full review

The best interest rates. Such a simple application process, great communication the whole way through. App is super easy to use. They have passed on many interest rate cuts. Brilliant.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Louise, Tasmania, reviewed 5 months ago
UBank UHomeLoan review
Overall 3/10
UBank make everything difficult!

Good rates all looks good but once they have you, not much help! Can't even get a home loan account statement online to go somewhere else. Three months work refinancing I thought all was good, go to sign paperwork only to find the amount wasn't what was asked for, nor was I told why or how to improve the problem. Cant wait to go!

Read full review

Good rates all looks good but once they have you, not much help! Can't even get a home loan account statement online to go somewhere else. Three months work refinancing I thought all was good, go to sign paperwork only to find the amount wasn't what was asked for, nor was I told why or how to improve the problem. Cant wait to go!

Price
9/10
Features
9/10
Customer service
2/10
Convenience
1/10
Trust
6/10
Less
Paul, Queensland, reviewed 6 months ago

What do you need to apply for a UBank home loan?

To apply for a UBank home loan, you will need to complete and submit an online application. In order to finalise your home loan application, you’ll need to supply the following documents:

  • Personal details for each applicant (if necessary)
  • Contact details including a valid email address
  • Proof of salary (i.e. payslips) and evidence of other income including government payments and rental income
  • Statements for any liabilities including credit cards or other existing loans
  • A copy of your council rates notice
  • A copy of your driver's licence or passport
  • Home loan statements (if you’re refinancing)

Home loan quick links