This loan from UBank offers a great low rate and low fees. Its competitive price means it doesn’t offer a huge range of features however it does allow you to make extra monthly and lump sum repayments to help you get ahead on your mortgage.
It also offers a redraw facility so if you are ahead on your repayments and you need access to some cash, you can redraw this money.
The ‘offer’ rate that you get with this loan is a discount off the standard variable rate, making it a cheaper option than most variable rate home loans, however to be eligible for this discount you will need to have at least a 20 per cent deposit.
Be aware, being on a variable rate does mean you will be subject to rate changes, so the variable option can make it harder for people to budget.
Who is the UBank Value Offer Loan good for?
The UBank Value Offer Loan is ideal for anyone looking for a competitive low rate who has a decent deposit saved up, or for people looking to upgrade to a bigger home.
It’s a great option for those who are looking for lots of flexibility in repayments, as there are no penalties for paying off your home loan ahead of time on the variable rate.
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UBank is an online lender, backed by one of Australia’s biggest banks – NAB. This means it can offer no-frills banking products such as home loans, savings accounts and term deposits without charging high fees.
UBank doesn’t have branches, so you would have to be comfortable dealing with the bank online and over the phone however they do provide a 24-hour call centre and Skype options.
UBank Value Offer Loan Options
Read more about the Value Offer Loan from UBank at the provided link.