CUA Fresh Start Basic Variable Loan


This is a basic no-frills mortgage, which will appeal to both first time home buyers and those who want to refinance their existing home loan for a ‘fresh start’. The CUA Variable Loan moves with the market, so you’re not locked into the gambling against rate changes.

The Fresh Start Basic Variable Home Loan offers a competitive interest rate and the freedom to pay the way you want, offering monthly, fortnightly or weekly repayment options to suit your financial circumstances. Borrowers can choose between principal and interest or interest only repayments, though interest only payments must be monthly.

If you are keen to own your home faster and reduce interest costs, CUA doesn’t charge fees for making extra repayments. There is also a redraw facility, so you have access to any excess repayments if you need it. However customers should keep in mind there is no offset facility, but that may not make much difference to the cost of your loan if you don't have a huge amount of savings to offset your home loan principal.

Customers can borrow up to 80 per cent of the property value. 

To be eligible for the Fresh Start Basic Variable Loan, you must already have or be willing to switch your everyday banking to CUA. This means having your salary deposited into an everyday bank account, having a linked debit card to this everyday bank account and being registered for online banking.

Who is the CUA Fresh Start Basic Variable Loan good for?

The low rate and low fees on the Fresh Start Basic Variable Home Loan may suit owner-occupiers, including first home buyers, and also investors who are on a tight budget. Despite the lack of an offset account, if you don't have too much cash sitting around, then this is no drawback at all. There are other ways you can reduce interest on your loan such as making free extra repayments as often as you can.

Review - What RateCity says

The CUA Fresh Start Basic Variable home Loan offers a competitive interest rate and it's largely fee free once you pay the upfront costs. You can make unlimited free extra repayments and redraw for free, so it has good basic features to offer. However, this would need to be weighed up against the costs involved in switching your everyday banking to CUA, which may involve other fees with your existing bank, so you'd need to check this. However, the switch could be worth it for those who are daunted by the sometimes high fees charged by other home lenders. While it is a basic package, it offers the features that you need to keep your interest costs down on your home loan.

CUA Fresh Start Basic Variable Loan Options

To find out if the CUA Basic Variable Loan is right for you, explore the options in the links below.

Advertised rate
Comparison rate*
Monthly repayment
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Variable Rates from


Advertised rate


Comparison rate
  • Low variable rate.
  • Free redraw.
  • No fee for extra payments.
  • No offset account option.
  • Few bank branches.
  • Income must be paid into CUA account.

Over 18 years of age.

Permanent Australian resident.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Estimated upfront fees: $195 - $795
  • Discharge fees: $200
  • Ongoing fees: $0

The CUA Fresh Start Basic Variable Home Loan has a relatively high establishment fee. A security administration fee and other fees may also apply. But after that, there are no monthly or annual fees and no redraw fees. So overall, it's a low-cost home loan.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About CUA

Customers of CUA are the ones who own the bank and have a right to vote on the governance of the largest customer-owned financial services provider. CUA has eight branch locations in NSW and an ATM network country-wide.

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