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UBank

Value Offer - 20% Deposit Minimum

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UBank is a division of NAB - one of Australia's largest banks. Even though UBank is part of the National Australia Bank, it's philosophy and brand is unique.
The name says it all - UBank is all about you.  Banking with UBank is simpler and better value - so you can concentrate on the important things in life.

UBank offers a new level of online banking and phone service for their direct customers focusing on home loans, savings accounts and term deposits. To keep things simple to understand and hassle free UBank have eliminated any hidden fees, financial lingo and false promises so you’ll be able to administer your savings when it suits you best. Not having a branch network means that UBank has lower costs which can be passed on to customers with very competitive rates. 

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Company UBank
Initial Monthly Repayment $1,192.10 per month
Total Repayment $429,154.54
Introductory Rate N/A
Advertised Rate 3.99% Variable
Comparison Rate 3.99%
Rate Type Variable
Introductory Ongoing Fees $0
Ongoing fees after intro/fixed period $0
Estimated Up Front Fees $0
Max LVR 80%
View Repayment Schedule

Product Features

Split Loan Available
This home loan feature offers the ability to have a portion of the loan charged at a fixed rate of interest and the balance attracts a variable rate of interest (eg 30% fixed and 70% variable)
Additional Repayment
Regular additional payments allowed as in weekly or fortnightly
Lump Sum Repayments
Additional bulk repayment allowed, usually on an ad hoc basis
Has Construction Facility
Is this loan available for construction purposes?
Has Mortgage Portability
A mortgage that allows you to release one home and substitute another using the same documentation, usually to reduce stamp duty costs
Has Progressive Drawdown
The interest is charged only on the amount that is progressively drawn
Redraw Facility
A redraw facility gives you the flexibility to put more money towards the loan when you have cash available, whilst knowing you can access your extra repayments later on if you wish to.
First Home Buyer Only
Product is restricted to First Home Buyers
Mortgage Offset Account
Does this loan allow for a partial or full offset deposit account facility?
Full Mortgage Offset
Does this loan allow for full offset?
Introductory Rate Available
Mortgages with an introductory rate usually offer a discounted interest rate for an introductory period. Be sure to check what the revert rate is so you don't get stung by an unexpected interest rate rise.
Has Reverse Mortgage
Reverse mortgages are typically available to seniors who convert the equity from their home into cash. The money obtained through a reverse mortgage is usually used to provide people with financial security in their retirement years.
Has Line Of Credit
This type of loan can be like an overdraft facility that is secured against your existing property, where interest is charged only on what you have used and is charged to your account on a monthly basis.
Allows Low Doc
Low doc loans and are a type of mortgage that is available for borrowers who cannot prove their income and cannot provide all of the regular paperwork required for standard home loans such as tax returns and pay slips.
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