You might know Up from its everyday banking and savings products, but did you know its offering home loans as well? With competitive interest rates, handy features, and low fees that can help take the sting out of regular repayments.
With a single variable rate of 5.95% p.a. and a comparison rate* which is the same rate at 5.95% p.a., Up Home aims to take out the need to negotiate your rates.
You can get Up’s home loan with a deposit of at least 10% of the property's value. Just keep in mind that, if you do have a deposit below 20%, you’ll still need to pay lenders mortgage insurance.
What about fees? You won’t pay any application, setup, monthly, annual, redraw, or discharge fees—although, you may have to pay some of the valuation cost as Up only pays the first $400, but this is usually enough to cover most properties.
Want to know what money saving features you’ll get with Up Home? For starters, you can make unlimited free extra repayments and make use of a redraw facility. Also, if you’ve got a savings and spending account (Up’s joint account), you automatically get them converted into offset accounts for free. In fact, you can get up to 50 free offset accounts!
Up Home could be a good option if you’re an owner-occupier intending to purchase a property in a major city. Also, if you’re looking to make use of offset accounts and free extra repayments, Up’s home loan could be a useful choice.
Up’s home loan is only intended for capital cities and major regional centres. So, if you’re buying regional, you might not get access to this loan. While Up Home lets you take out a loan with a 10% deposit, bear in mind that you would have to lenders mortgage insurance with a deposit less than 20%.
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5.95% p.a. |
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n/a |
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n/a |
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n/a |
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5.95% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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$50,000 |
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$10,000,000 |
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none |
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90.00% |
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Owner Occupier |
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Principal & Interest |
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Monthly |
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yes - unlimited |
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no |
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yes - free |
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none |
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no |
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yes |
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If valuation over $400, Up will cover the first $400. Must hold an Up everyday account. |
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none |
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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.
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Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Elevate
6.09% p.a. variable
6.20% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Basic Home Loan (Fixed)
6.09% p.a.
fixed 3 years
6.19% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
First Home Buyer Loan
5.90% p.a.
5.93% p.a.
$0.00
Basic Variable Home Loan
5.94% p.a.
5.99% p.a.
$0.00
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.
