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UBank Home loan reviews

Overall rating
Price
Features
Customer service
Convenience
Trust
Based on 30 home loan reviews as rated by the Mozo community.

Featured home loan from UBank

UHomeLoan

interest rate
1.95% p.a.
fixed 3 years
comparison rate
2.27% p.a.

Promoted

Recent UBank home loan customer reviews

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  • UBank Home Loan

    Terrible app

    The worst app I've ever used for banking. I will leave this bank purely on the failure of the mobile app. Terrible and clunky, never updated. The Perks of a budget bank!

    Price
    6 / 10
    Features
    3 / 10
    Customer service
    3 / 10
    Convenience
    2 / 10
    Trust
    4 / 10
    Less
    Fiona, Victoria, reviewed 24 days ago
  • UBank Home Loan

    U Bank very band customer service complex process

    Do not recommend to apply for home loans there. I have applied for refinance and they ask for too much of information which does not make sense. I have been asked to provide a letter from The company confirming my position and annual salary even though i have provided with pay slips and a contract letter clearly saying all details requested. The home loan specialists are non reachable and not customer focused. Unnecessary delays. Would not recommend.

    Price
    4 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Ashraful, New South Wales, reviewed about 1 month ago
  • UBank Home Loan

    AVOID! There is a reason their rates are low.

    I refinanced to Ubank a bit over a year ago, I am now trying to leave, that should tell you everything you need to know about this mob. They are an online only bank which you would think would mean their processes are built from the ground with modern features but they are so far behind it's not funny. There was no option to pay my mortgage myself, it had to be direct debited when they wanted to do it and if I wanted to change the account that came from, I had to print out and complete a form, scan it and send it back for processing! I am now refinancing elsewhere and again need to physically sign a discharge form which means getting a print out, scanning it and sending it back. Their features are garbage also. Interest get's added to the loan on a daily basis so the loan amount is constantly fluctuating and it generally takes 2 or 3 days for the amounts to reflect from the date they took the money and the redrawn appears be impacted every time the mortgage is due, then 2 or 3 days later it goes back to what you actually have in redraw. Their rates were once a main draw card but they are no longer that competitive and with the awful service experience, there is no benefit in staying with them. Steer clear of this company, if you must go for a more competitive lender, try anyone else with systems and processes based in this century!

    Price
    6 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    2 / 10
    Less
    Andrew, New South Wales, reviewed about 1 month ago
  • UBank Home Loan

    Horrendous service and incompetent staff

    Home loan specialist was unbelievably incompetent and absent during what is obviously an urgent and stressful process for the customer. Hotline consultants were useless in providing further assistance and addressing formal complaints. Management was equally indifferent and non-responsive in dealing with the issue, no wonder their staff are the absolute worst. Just proves the business has no accountability and does not value customers at all. Do not use this bank, unless you want to end up punching a wall. Never mind the low interest rate promise, everything else about them is a joke. Beyond pathetic.

    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    First home buyer, Victoria, reviewed 2 months ago
  • UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    Below par customer care and service.

    UBank will initially process new loan applications in an acceptable industry standard time frame. Once they secure your business they will drop you like a brick and expect that you will be satisfied with a low interest rate and zero customer Service. Over a month ago I submitted a loan variation form/request and must presume that it was deleted or thrown in the bin as there was no response at all. On one of the rare occasions that I was fortunate enough to speak with someone over the phone my request was met with “we are unable to provide that service, the big 4 banks would, but we can’t”. I think that probably sums it up!

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    2 / 10
    Trust
    2 / 10
    Less
    Michael, New South Wales, reviewed 29 days ago
  • UBank Home Loan

    Be Mindful

    People be mindful when refinancing with ubank, put aside their competitive interest rate, their response time is tribble. I currently waiting for refinancing, it took their settlement agent MSN to say the building insurance name needs to be amended 35 days from the day I provided them with a copy. A few more documents that each took a few weeks to respond to the acceptance. frustrating....

    Price
    6 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Orson, Western Australia, reviewed 3 months ago
  • UBank Home Loan

    Ubank Ufailed Me

    I have a government job,,,I have near enough cash to pay for next loan without a loan. I have a excellent credit record. I have a home loan with Ubank. They still are extremely slow and no direct voice to voice contact with decision makers...they are impossible. I rang plus emailed many times to increase my loan ...I waited and in the end there was no response from decision maker.. They lost me as a customer,,,,they still advertise, ,I think ,spend money on improving your customer service then you will keep existing customers instead of finding new customers. Or you think your so big you dont need to do customer service? I now have refinance quicker with ING...now the slow pace of discharge by Ubank,,,customer service...forget UBANK..There dealing is difficult.. Its a shame,,,I fully cannot recommend Ubank...I recommend staying away from Ubank.. Do not believe their adverts,,,,smoke and mirrors

    Price
    5 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Andrew, New South Wales, reviewed 3 months ago
  • UBank Home Loan

    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.

    Price
    1 / 10
    Customer service
    2 / 10
    Less
    Brian, Victoria, reviewed 6 months ago
  • UBank Home Loan

    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.

    Price
    10 / 10
    Features
    7 / 10
    Customer service
    6 / 10
    Convenience
    9 / 10
    Trust
    7 / 10
    Less
    Liana, South Australia, reviewed 6 months ago
  • UBank UHomeLoan - Discount Offer for Investor (Principal & Interest, Investment)

    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.

    Price
    8 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Katherine, Northern Territory, reviewed 7 months ago
  • UBank

    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.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Louise, Tasmania, reviewed 9 months ago
  • UBank

    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!

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

    Great bank, most features of big banks

    Wait lines on the phone can be a bit extensive, however, everything during COVID is. The app doesn’t have the feature to manage your home loan through it- it takes you to a website, if this feature was available, I would not have any complaints what’s so ever.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    6 / 10
    Trust
    8 / 10
    Less
    Shari, Queensland, reviewed 10 months ago
  • UBank Home Loan

    Never again.

    Completely waste of time. We tried to refinance with them and it took them more than a month to conclude that we are not eligible. They could have told us to start with. In terms of documents, it went back and forth for 5 rounds for them to say exactly what they need. The guidance on their website is more like a decoration. Living expense is calculated without clarity. Case manager is very unresponsive and unprofessional and refuses to take calls. The low rate comes with all pain!

    Price
    1 / 10
    Features
    2 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Freya, Victoria, reviewed 10 months ago
  • UBank Home Loan

    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 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

    • Smart Booster Home Loan

      interest rate
      1.85% p.a.variable for 24 months and then 2.25% p.a. variable
      comparison rate
      2.21% p.a.

      Promoted
    • UHomeLoan

      interest rate
      1.95% p.a.
      fixed 3 years
      comparison rate
      2.27% p.a.

      Promoted
    • Celebrate Variable Home Loan

      interest rate
      1.99% p.a. variable
      comparison rate
      1.99% p.a.

      Promoted
    • Variable Home Loan

      interest rate
      1.99% p.a. variable
      comparison rate
      1.99% p.a.

      Promoted
    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 3 years
      comparison rate
      2.32% 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 502 home loans in the Mozo comparison engine.

    Compare more home loans

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    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.