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- UBank cuts mortgage rates by 10 basis points
UBank cuts mortgage rates by 10 basis points
UBank has unveiled a home loan special offer that involves both an interest rate cut and cashback.
Owner-occupiers who apply for a variable principal-and-interest UHomeLoan can qualify for the following discount:
| Loan amount | Old rate | New rate |
|---|---|---|
| $200,000 to $700,000 | 3.69% | 3.59% |
| $700,001 and above | 3.62% | 3.59% |
Eligible borrowers will also receive a $1,000 cash payment into a USaver account, which must be opened by settlement.
UHomeLoan applications must be made by 6 August and must be approved and settled by 28 September.
This offer excludes fixed-rate borrowers, owner-occupiers who choose interest-only and investors.
The key features of a UHomeLoan include:
- Maximum loan-to-value ratio (LVR) of 80 per cent
- No application fees
- No ongoing fees
- Redraw facility (but no offset account)
- Unlimited additional repayments
The home loan with the lowest interest rate may not be the best home loan for every borrower. Before making a decision, consider comparing your options and consulting a financial adviser.
Disclaimer
This article is over two years old, last updated on July 18, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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