UBank home loan reviews

Very competitive variable rate. Easy to apply online and helpful staff.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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I have dealt with Banks and sought approvals for years. I have never experienced an incompetent bank like Ubank ever before. The application process so far has taken 5 months. They keep asking you to upload document after document. They then question everything you have submitted and are suspicious of you. The call centre staff never know anything and always say they will get someone senior to call you but they never ring. I have substantial assets and had a high income from my job as a lawyer - but they always had an issue with my loan ratio. Even though they told me my expenses were average they were still suspicious about why I dont spend more. I am sick of wasting my time with them and am going to withdraw my application. No bank has ever questioned me as much as Ubank. I wish I never dealt with them.

Price   5 / 10

Features   3 / 10

Customer service   0 / 10

Convenience   0 / 10

Trust   0 / 10

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Took long time processing application, Cheapest interest rate, can withdraw money from loan

Price   10 / 10

Features   9 / 10

Customer service   8 / 10

Convenience   9 / 10

Trust   8 / 10

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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

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I'm very impressed with Ubank. Searching Online for a better home loan rate, I found Ubank, 4.17%. I applied and processed the loan MYSELF online. I was sent the documents to read and sign. The transfer of loan was efficient and easy, Saving myself $400 a month. When people are talking homeloans, I tell them about Ubank.

Price   10 / 10

Features   8 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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Twice bitten, thrice shy. I should have remembered how terrible UBank was from the last time we used them. With a few exceptions, the customer service is non-existent. We had to upload documents multiple times and then they took so long in processing everything we had to supply updated documents. Within a month of doing the finance, they changed the terms of the loan (which legally they are entitled to) and increased our interest rate by 0.2%. We had such a negative experience sorting that out, we decided to refinance to a different provider and that was a ridiculously long and drawn our process - basically, UBank did as little as possible, as slowly as possible to allow the refinance. It ended up taking over a month to get it done. We will never deal with them again.

Price   1 / 10

Features   0 / 10

Customer service   0 / 10

Convenience   0 / 10

Trust   0 / 10

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Ubank is terribly slow. Do not go with ubank. Their system is just so bad. The staff are ok but if you are looking for a lender who can get the job done then don't waste time with these guys. My application is clean and highly serviceable. Low risk. Because of ubank I have missed out on an important auction. Wished I'd gone with another lender. Time wasters.

Price   6 / 10

Features   6 / 10

Customer service   4 / 10

Convenience   0 / 10

Trust   5 / 10

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Good rates, but basically crap at everything else. Crap app, and have to relog in to another site to access mortgage.

Price   8 / 10

Features   3 / 10

Customer service   5 / 10

Convenience   0 / 10

Trust   4 / 10

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Pros:Great interest rate, 24hr call centre and easy online access to accounts. Cons:Slow application process, bad customer service and it's only an internet bank.

Price   10 / 10

Features   7 / 10

Customer service   5 / 10

Convenience   7 / 10

Trust   5 / 10

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I am very impressed with UBank. I have been with them for some years, they are efficient and friendly and offer 24 hour phone support. Applying for the loan was a bit tiresome, but after that they have been great.

Price   10 / 10

Features   5 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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Good and cheap - don't understand what more people want in a home loan.

Price   9 / 10

Features   7 / 10

Customer service   6 / 10

Convenience   5 / 10

Trust   9 / 10

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I was paying out half my salary a few years ago to service a home loan with NAB so I decided to look for something cheaper. I noticed that Ubank was "backed by NAB" which should have been a warning but I was stupidly tempted by the low rates. Anyway I sought refinancing through them and started jumping through the ridiculous hoops they make you go through, many more than NAB itself does. Everything has to be done with Ubank online and with email. It's possible to get them to call you back but because you don't have an allocated account manager no one is familiar with your case or seems to have any authority to resolve an issue. Anyway my application dragged on for months with documents sitting in their online system and me making endless calls to Ubank officers who weren't empowered to help and seemed to be totally at sea. I should have known better. After four months of this nonsense I tried another online home loan company, got allocated a manager which I dealt with over the phone and had the refinance loan in place in a fortnight. Ubank seems to be where NAB parks its trainees and hopes the low rates will make up for all the rest. If you want a time wasting service offered by kids on trainer wheels it is the place to go.

Price   0 / 10

Features   0 / 10

Customer service   0 / 10

Convenience   0 / 10

Trust   0 / 10

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Application process was simple, quick & efficient. Interest rates are competitive & redraw facilities are an added bonus.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   8 / 10

Trust   8 / 10

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Absolutely terrible. I applied for a home loan in early Feb 2015 after buying a property, with a 45 day settlement. For the next 4 weeks they wanted me to jump through every possible known hoop possible, including: - Stat declaration because my name on the application included my full first and middle name, whilst my bank statement did not include my middle name. - At the time of application I forgot to include that I had a spare $1000 credit card (it was a no annual fee card which I kept as backup but never used). They made me write a letter saying why I did not include this card on the application. As if a CC with a $1,000 limit will affect a $400,000 loan. - Confirmation statement from a credit card company of a card that I had cancelled over one year ago (apparently their credit check still sees the card as listed as active). - Proof of my superannuation (my employer pays super monthly, so my 2 recent payslips did not show the super contributions). - Required me to reduce my current credit card limit (even though I had declared the limit at pre-approval which went through without issue). The frustrating thing is they request additional documents from you ONE AT A TIME (instead of all at once), so every 2-3 days I was submitting an additional document. Their customer service is lousy, and there's always a different person answering the phone, so you have to explain your situation all over again to each customer rep. Each time, you are told that 'this document will be the last'. 4 weeks later, I received a phone call from them saying they are unable to service my loan. This came as a complete shock, as I already got a pre-approval from them (and I got pre-approvals from other banks for $700,000). After demanding to speak to the manager, I was put through to someone senior, who said 'we aren't able to service your loan as your income of $xx,xxx is too low'. The only issue with this statement was that my actual income is actual more than double of xx,xxx! THEY HAD RECORDED MY SALARY WRONG! At this point, it was 1 week before settlement, and I told them to forget it. Visited CBA that afternoon and walked up with a signed loan contract after 90min. And unbelievably, after cancelling the home loan application 1 week prior to settlement, the UBank contract arrived in the mail on the day of settlement. Seriously, if you are going to do home loan, at least record your customer's salary correctly.

Price   7 / 10

Features   1 / 10

Customer service   0 / 10

Convenience   0 / 10

Trust   0 / 10

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I applied for refinancing an existing a home loan, first I tried their online calculator and all was fine then an online request and next day somebody called me and again everything was fine. I uploaded several document on my online profile on the ubank website , but they did not read them carefully or did not accept them, they were asking for some documents that never existed and just wasting your time with asking different documents, they do not know what they are looking for and also their approval criteria is not clear. Anyway my application got through to next step to be approved by assessor and send me the contract but again a back movement and asking for some additional documents. Finally I decided to withdraw my application. They made me tired of their vague requests for some documents that even they do not know what is it. The connection with them is very difficult, just secure email and every time a different person replies you. Even in one case they used a wrong name to reply me.

Price   8 / 10

Features   8 / 10

Customer service   2 / 10

Convenience   2 / 10

Trust   2 / 10

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