Awful customer service. Very slow to deal with. String you along for a couple of weeks then find roadblocks to progress with loan application. You will loose contracts relying on this bank.
No frills home loan, low rates and flexibility to pay off extra. Only downfall is 30 yr term so best to pay it ahead if possible in this climate.
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!
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.
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!
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.
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!
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....
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
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.
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.
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.
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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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