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UBank Home Loans

ubank

Since 2007, UBank has been providing Australians with a wide range of banking products, including home and car loans and savings and transaction accounts. UBank makes applying for a home loan fast and simple with 24 hour a day customer support. UBank is an online-only lender which is backed by NAB.

WHO IS IT FOR?

UBank products are suitable for full-time employees who have a good deposit saved and are looking to buy (or refinance) an established property.

Since UBank is an online bank, most of the interaction with them is electronic. Therefore, you should be comfortable with completing your application and sending through your documentation using online means, rather than visiting a branch. The fact that UBank is a branch-free bank means their overheads are lower, and that rolls down to their products. If avoiding fees and getting the best rate is your highest priority (rather than product features and face to face service) then UBank is a lender worth considering.

SPECIAL OFFER

UBank Value Offer

Enjoy a homeloan with $0 application fee, $0 ongoing fees and redraw facilities available. Min. 20% deposit required.

Frequently asked questions about UBank

Here are a few key questions some of our users have asked with respect to UBank. If you want to know more, you can read our expert review or contact UBank directly.

How is UBank’s customer service?

UBank has won numerous awards, including Money Magazine’s “Best of the Best” award, the BAI Financial Global Product Innovation Award for its refinance mortgage UHomeloan, and the 2012 Australian Lending Award for Best Online Operator. Home loan customers can contact UBank 24 hours a day by calling the customer support hotline (1300 822 630) or by using Skype.

Who owns UBank?

Although UBank offers the perks of a small lender, it is backed by one of the largest lenders in the home loan market, National Australia Bank (NAB).

What is the maximum loan term UBank allows?

UBank home loans allow loan terms of up to 30 years.

How can I make extra repayments with UBank?

UBank home loans do not offer an offset account. However, UBank home loans come with a redraw facility, enabling you to make as many extra repayments as you want, as well as fee-free redraws!

UBank fixed rate owner occupied loans


UBank variable rate owner occupied loans


UBank investor home loans


UBank mortgage repayment calculator

UBank Home Loan Reviews and Compare vs Big 4 Banks | RateCity

The UBank UHomeLoan Loan offers borrowers a low variable interest rate and no application or ongoing loan fees. This loan has a minimum borrowing amount of $100,000 and a maximum of $2,000,000. This loan gives customers the freedom to make additional loan repayments, which can be accessed at a later stage using the unlimited free redraw facility. This loan has a maximum term of 30 years and can lend you up to 80 per cent of the property value. Other loan features include a portability feature, interest-only payments, split loan option and 24-7 customer support. This loan has no offset facility.

View Home Loan Details

UBank Value Offer Loan

The UBank Value Offer Loan offers owner-occupiers a discount off the UHomeLoans Standard Variable Rate when this loan is used for owner-occupied properties with principal and interest repayments. Value Offer Loan gives borrowers a competitive interest rate which can be split across both variable and fixed rate home loans. This loan has no application or ongoing loan. Other loan perks include unlimited, fee-free redraws on variable rate loans, flexible repayment options and the ability to make extra loan repayments. This loan has a loan term of 30 years and customers can borrow up to 80 per cent of the property value with a maximum loan amount of $2,000,000. This loan has no offset facility.

View Home Loan Details

UBank Investor Extra Offer Loan

The UBank Investor Extra Offer Loan offers investors a discounted interest rate off the UHomeLoans Standard Variable Rate when this loan is used for investment properties and is combined with interest-only repayments. The Investor Extra Offer Loan offers borrowers a competitive interest rate which can be split across both variable and fixed rate home loans. This loan has no application or ongoing fees. Other loan perks include unlimited, fee-free redraws on variable rate loans, flexible repayment options and the ability to make extra loan repayments. This loan has a loan term of 30 years and customers can borrow up to 80 per cent of the property value with a maximum loan amount of $2,000,000. This loan has no offset facility.

View Home Loan Details

Home Loans from UBank

Pros
  • Flexible loan options.
  • Loans have no ongoing or application fees.
  • Fast application and turnaround process.
  • Some loans offer additional discounts.
Cons
  • No branch network.
  • Loans require a minimum deposit of 20 per cent or more.
  • Loans don’t offer offset accounts.
  • Not available for self employed
  • Not available for off the plan
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Customer Service

As UBank is an online-only lender, it does not have any branches or mobile lenders. Home loan customers can contact UBank 24 hours a day by calling the customer support hotline or by using Skype.

✓     Phone: 1300 822 630

✓     Mobile app: Android, iPhone

✓     Online banking

✓     customer_resolutions@ubank.com.au

Applying and Eligibility

Customers wanting to apply for a UBank loan can apply by filling out an online application form or by calling the bank. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Name and contact details of each borrower.
  • Proof of income and employment.
  • List of income and expenses including credit card loans and car loans.
  • Property details like the contract of sale.
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