5.9/10

Based on 9 Unloan product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Unloan home loans

Unloan, the digital home loan built by CommBank, combines great rates and innovative technology to give refinancers a simple and streamlined home loan experience. There’s plenty of flexibility on offer, such as the ability to access a redraw facility and change certain terms of your loan (repayment date, frequency and amount). The online signup is designed to be as quick as possible, and you’ll be able to manage your loan via the Unloan app.

What home loans do Unloan offer?

Rates and fees verified as correct at 22 June 2024. Other information correct at the time of writing. Advertiser disclosure.

Variable Rate Home Loans

Unloan currently only offers variable rate loans, with options available for both owner occupiers and investors. Borrowers will be able to make extra repayments should they choose, as well as access a redraw facility at any time if they decide they want some of those funds back in their pocket. There are zero fees and an automatic discount of 0.01% p.a. will be applied to your current interest rate each year.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

5.99% p.a.

5.90% p.a.

$0.00

$0

Go to site

6.29% p.a.

6.20% p.a.

$0.00

$0

Go to site

Unloan home loan features in a glance

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Yearly rate discount

Loyal customers are rewarded with a 0.01% p.a. interest rate reduction each year they hold their loan, up to a maximum discount of 0.30% p.a. The discount will be applied to your current interest rate. 

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No upfront or ongoing fees

There are no application, service, or exit fees to worry about with Unloan. Even late fees and transaction fees have been scrapped. You might, however, encounter some third party fees, government charges, and exit fees from your previous lender.

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Redraw facility

If you’ve been making repayments above the minimum required amount, you’ll be able to retrieve those extra funds whenever you like at no cost. To make a redraw, select the ‘Transfer money’ option on your home loan account screen and follow the prompts. Just keep in mind that redrawing on your loan will increase your outstanding balance and add to your interest costs.

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Simple online application

Throughout the online application process, Unloan uses advanced technology to make sure you progress through each step with as little stress as possible. All you’ll need to do is provide your details, upload all your income documents and verify you are who you say you are using the biometric identity check feature.

How are Unloan home loans rated?

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

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Unloan home loans customer reviews
Overall
5.9/10
Price
7.8/10
Features
5.3/10
Customer service
6.7/10
Convenience
6.8/10
Trust
6.4/10
Based on 9 Unloan product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Unloan home loan reviews

Unloan Variable
Overall 7/10
Great all round no frills mortgage.

The app is easy to use for transferring money in and out of mortgage account. The rates are competitive in the mortgage market. I haven’t experienced any negatives having my mortgage with Unloan. Customer service is good also.

Read full review

The app is easy to use for transferring money in and out of mortgage account. The rates are competitive in the mortgage market. I haven’t experienced any negatives having my mortgage with Unloan. Customer service is good also.

Price
6/10
Features
6/10
Customer service
9/10
Convenience
9/10
Trust
8/10
Less
Mark, Queensland, reviewed 3 months ago
Unloan Variable
Overall 9/10
Love

Quick and easy, very simplistic to swop over. App can improve to reflect true withdrawal amounts allowed. Overall happy with my transition and comparison rate.

Read full review

Quick and easy, very simplistic to swop over. App can improve to reflect true withdrawal amounts allowed. Overall happy with my transition and comparison rate.

Price
8/10
Features
8/10
Customer service
8/10
Convenience
9/10
Trust
9/10
Less
Kylie, Queensland, reviewed 6 months ago
Unloan Variable
Overall 2/10
Don't refinance if you access to your equity

Advised at time of borrowing that I would require access to more of my equity in future, advised it wasn't an issue. Went to increase loan a month after refinancing with them and they don't do it. After many communications was advised only way to get access to any of my $800k in equity was to refinance elsewhere. Firstly that's going to cost me a lot in fees and secondly virtually no lenders will refinance if within first three months with current provider even though I've had a mortgage for 17 years. So they are happy to refinance other lenders loans but not their own. Brokers have advised me they have seen this a bit and don't advise going with unloan if you want access to your equity in your house in the future.

Read full review

Advised at time of borrowing that I would require access to more of my equity in future, advised it wasn't an issue. Went to increase loan a month after refinancing with them and they don't do it. After many communications was advised only way to get access to any of my $800k in equity was to refinance elsewhere. Firstly that's going to cost me a lot in fees and secondly virtually no lenders will refinance if within first three months with current provider even though I've had a mortgage for 17 years. So they are happy to refinance other lenders loans but not their own. Brokers have advised me they have seen this a bit and don't advise going with unloan if you want access to your equity in your house in the future.

Price
7/10
Features
2/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Mark, Victoria, reviewed 2 months ago
Unloan Variable
Overall 10/10
Unloan - Home Loans

Great interest rates for home loans and excellent customer service. I've switched to Unloan and never looked back. Highly recommended.

Read full review

Great interest rates for home loans and excellent customer service. I've switched to Unloan and never looked back. Highly recommended.

Price
10/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Chris, Western Australia, reviewed 9 months ago
Unloan Variable
Overall 8/10
Fast and easy to switch and save!

I like the fact that even though it is strictly an online platform and no physical branch, the refinance of my home loan was a fast and and easy process (as long as you are digitally capable). Instant and ongoing communication from customer service and any queries are instantly uploaded on their app and responded to efficiently. Their interest rate continues to stay lower than others even though it has had some increases since joining and the discounted yearly rate is a good incentive but it will be interesting to see if their rate stays competitive in order for the yearly discount to be worthwhile. Although initially hesitant about going digital with my home loan, I felt at ease knowing they are backed by the CBA. Not good if you aren’t digitally savvy as all transactions are done online including downloading of statements and transferring funds. Downside of downloading statements is that they can’t be exported into different formats such as excel spreadsheets. I feel the platform of the app could still be in the process of being refined as it matures considering it’s a new facility and the customers needs. Very happy with it so far!

Read full review

I like the fact that even though it is strictly an online platform and no physical branch, the refinance of my home loan was a fast and and easy process (as long as you are digitally capable). Instant and ongoing communication from customer service and any queries are instantly uploaded on their app and responded to efficiently. Their interest rate continues to stay lower than others even though it has had some increases since joining and the discounted yearly rate is a good incentive but it will be interesting to see if their rate stays competitive in order for the yearly discount to be worthwhile. Although initially hesitant about going digital with my home loan, I felt at ease knowing they are backed by the CBA. Not good if you aren’t digitally savvy as all transactions are done online including downloading of statements and transferring funds. Downside of downloading statements is that they can’t be exported into different formats such as excel spreadsheets. I feel the platform of the app could still be in the process of being refined as it matures considering it’s a new facility and the customers needs. Very happy with it so far!

Price
10/10
Features
5/10
Customer service
10/10
Convenience
9/10
Trust
9/10
Less
Anna, Victoria, reviewed 9 months ago

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

Home loan quick links