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.
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.
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!
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.
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!
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.
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.
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!
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.
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.
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.
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.
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.
Good rate, no bells and whistles.
They have a good interest rate and no exit fees. Customer service are reasonable if you are complaint enough.
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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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