Thumbnail icon for UBank

UBank Home loan reviews

Overall rating
7.4/10
Price
9.0/10
Features
6.1/10
Customer service
6.6/10
Convenience
5.9/10
Trust
7.1/10
Based on 16 reviews as rated by the Mozo community.

Featured home loan from UBank

UHomeLoan - Discount Offer

interest rate
2.49% p.a. variable
comparison rate*
2.49% p.a.

Promoted

Recent UBank home loan reviews

Sort reviews by: date | star rating
  • UBank Home Loan review

    Overall rating   2 / 10
    Consider with caution.

    I wouldn't encourage anyone to consider refinancing with UBank just because of their lower rate of interest. Had I have known how appalling their customer service was going to be, and how long you have to wait for someone to answer a phone call (average wait time 45 minutes), I would have stayed with my previous lender and happily paid a higher rate of interest. Some of their staff are really great but the majority lack knowledge and are unable to answer questions. The phone app and website are very clunky and not at all user-friendly. The other issue I have with UBank is that their statements are misleading and don't provide all the information you require to have an informed opinion about the state of your finances. They offer a redraw facility as opposed to an offset account which again for some strange reason fluctuates significantly which makes knowing exactly what your balance is very difficult.

    Price
    10 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Matthew, New South Wales, reviewed 18 days ago
  • UBank Home Loan review

    Overall rating   1 / 10
    Very poor customer assessment criteria

    Very poor customer service. They simply say no to customers with very limited information and without going in further detail. Trying to avoid the customers in a hurry. I'm still not convinced why they said I'm not eligible at the same time all other banks said I was eligible. Very poor criteria for assessment of customer credit rating.

    Price
    3 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Alan, South Australia, reviewed 26 days ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   9 / 10
    Lowest rates no frills

    Lowest home loan interest rate, no frills, underwritten by NAB. No branches, can take a while to set up with all the paperwork but once you do, you will be saving tens of thousands of dollars. Well worth the effort!

    Price
    10 / 10
    Features
    9 / 10
    Customer service
    7 / 10
    Convenience
    7 / 10
    Trust
    8 / 10
    Less
    Natalie, Western Australia, reviewed 2 months ago
  • UBank Home Loan review

    Overall rating   8 / 10
    Great rates and decent service

    After a couple of early challenges, UBank have won us back over by passing on almost all of the RBA rate cuts. They are online only which allows very competitive rates with no fills offering.

    Price
    9 / 10
    Features
    5 / 10
    Customer service
    4 / 10
    Convenience
    8 / 10
    Trust
    9 / 10
    Less
    Mick, Victoria, reviewed 3 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   7 / 10
    Fix redraw facility.

    Love this banks low rates. However I hate their redraw facility and how it seems to be in a constant state of recalculation. Payments are deducted from redraw before being debited from your account and the whole process takes too long to recalculate once you make payment. It takes weeks for accurate amounts to reflect and the money visible to the customer is always lower than what is actually in there. Needs to be fixed urgently.

    Price
    10 / 10
    Features
    4 / 10
    Customer service
    7 / 10
    Convenience
    7 / 10
    Trust
    7 / 10
    Less
    Nes, Victoria, reviewed 3 months ago
  • UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest) review

    Overall rating   9 / 10
    Excellent service and very competitive.

    UBank is a fantastic online bank. The process to approve the loan was simple and the two times I have called UBank my questions were answered promptly. Very satisfied. UBank has also passed on the rate cuts to variable rate home loan which was welcomed.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    7 / 10
    Trust
    9 / 10
    Less
    Daniel, Victoria, reviewed 3 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   10 / 10
    Great online bank with great customer service. A++

    When I had a mortgage, they had by far the best rate for a mortgage without an offset account (wasn't an investment property so didn't need it). None of the other banks could come close. Also got Aussie call centres so they provided great customer service. Can't really fault them besides not having an offset account.

    Price
    9 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    8 / 10
    Trust
    10 / 10
    Less
    Andrew, New South Wales, reviewed 5 months ago
  • UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest) review

    Overall rating   7 / 10
    Cheap rates with no fuss.

    I like this bank because their rates are very low. A con is they take a long time 2-3 business days to return emails.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    2 / 10
    Convenience
    3 / 10
    Trust
    6 / 10
    Less
    Craig, Queensland, reviewed 8 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   7 / 10
    Good rate, no bells and whistles.

    Good rate, no bells and whistles.

    Price
    9 / 10
    Features
    3 / 10
    Customer service
    7 / 10
    Convenience
    4 / 10
    Trust
    7 / 10
    Less
    Tanya, Victoria, reviewed 8 months ago
  • UBank Home Loan review

    Overall rating   9 / 10
    Good interest rate.

    They have a good interest rate and no exit fees. Customer service are reasonable if you are complaint enough.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    8 / 10
    Convenience
    6 / 10
    Trust
    7 / 10
    Less
    Trevor, New South Wales, reviewed 10 months ago
  • UBank Home Loan review

    Overall rating   7 / 10
    Low rate, no frill home loan and no monthly fees.

    I like this bank because it is a part of NAB and because it is a no frills bank, meaning you get a much cheaper rate and no monthly fees. However, because of this there is no shop front to walk into. Everything is done online and it can take a little longer to get a hold of then your mainstream banks. This is a sacrifice I am willing to accept for better value and reducing the cost of what is the most expensive thing you will pay for in your life, that being your home loan. The only con to this is they do not have, as yet, an offset account that can be attached to your home loan. To counteract it they do have unlimited redraw facility with no fees. This means you do have to keep a closer eye on how much you are redrawing if you are putting in your saving to not eat into the principal you are paying off the mortgage.

    Price
    9 / 10
    Features
    2 / 10
    Customer service
    8 / 10
    Convenience
    5 / 10
    Trust
    8 / 10
    Less
    Alyssa, Queensland, reviewed 10 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   10 / 10
    I would use them anytime for a home loan.

    Customer service is outstanding. I can send them a message in Facebook messenger and they will call me back to discuss my issues. UBank was really easy to apply for a home loan over the net.

    Features
    9 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Matt, Queensland, reviewed 11 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   8 / 10
    Good rates.

    Easy to redraw.

    Price
    10 / 10
    Features
    7 / 10
    Customer service
    8 / 10
    Convenience
    9 / 10
    Trust
    7 / 10
    Less
    Nigel, Queensland, reviewed 11 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   8 / 10
    Friendly bank

    Great bank for your everyday needs and for your home loans. We have two home loans and two accounts with them and no fees at all. Very friendly service. However they have longer than normal approval times for loans I found compared to NAB who are really quick at approvals.

    Price
    10 / 10
    Features
    5 / 10
    Customer service
    10 / 10
    Convenience
    4 / 10
    Trust
    9 / 10
    Less
    Adam, New South Wales, reviewed 11 months ago
  • UBank UHomeLoan (Owner Occupier, Principal & Interest) review

    Overall rating   8 / 10
    Ubank is awesome.

    Easy to apply and customer service is always quick and great.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    7 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Mei, New South Wales, reviewed 11 months 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.

    Home loan comparisons on Mozo - rates updated daily

    • Mortgage Simplifier

      interest rate
      2.49% p.a. variable
      comparison rate*
      2.52% p.a.

      Promoted
    • Fixed Home Loan Special Offer Home Package Plus

      interest rate
      2.29% p.a.
      fixed 2 years
      comparison rate*
      3.28% p.a.

      Promoted
    • Fixed Rate Home Loan

      interest rate
      2.09% p.a.
      fixed 2 years
      comparison rate*
      2.98% p.a.

      Promoted
    • Smart Home Loan 80

      interest rate
      2.48% p.a. variable
      comparison rate*
      2.50% p.a.

      Promoted
    • UHomeLoan - Discount Offer

      interest rate
      2.49% p.a. variable
      comparison rate*
      2.49% p.a.

      Promoted

    *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.

    Want more? Compare all 545 home loans in the Mozo comparison engine.

    Compare more home loans

    About Mozo community reviews

    Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.