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.
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.
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.
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).
UBank home loans allow loan terms of up to 30 years.
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 loans rates
Go To Site
Fixed - 3 years
Fixed - 3 years
- Flexible loan options.
- Loans have no ongoing or application fees.
- Fast application and turnaround process.
- Some loans offer additional discounts.
- 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
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
How to Apply
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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Real Time RatingsTM looks at your individual home loan requirements and uses this information to rank every applicable home loan in our database out of five.
This score is based on two main factors – cost and flexibility.
Cost is calculated by looking at the interest rates and fees over the first five years of the loan.
Flexibility is based on whether a loan offers features such as an offset account, redraw facility and extra repayments.
Real Time RatingsTM also includes the following assumptions:
- Costs are calculated on the current variable rate however they could change in the future.
- Loans are assumed to be principal and interest
- Fixed-rate loans with terms greater than five years are still assessed on a five-year basis, so 10-year fixed loans are assessed as being only five years’ long.
- Break costs are not included.