UBank UHomeLoan Review
Making the right decision when it comes to financing or refinancing your home is vital to the stability of your monetary position for years after you purchase your property. With so many old and stale products on the market, not offering much value to consumers, the home loan market was in serious need of a shake up. Well, the UBank UHomeLoan has just produce a bigger shake up than most would have expected with their exceptional new home loan product.
Regardless of whether you want to refinance your home to pay off or consolidate your debts, take a long deserved holiday, or perhaps to make your monthly repayments cheaper, this loan will be able to offer you both value and flexibility. Let’s have a look at exactly what this great new product offers.
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 UBank UHomeLoan (Variable Rate) |
One of the market leading variable interest rates. | 5.83% | 5.83% | $0 / $0 | 80% | $100,000 / $1,000,000 |
 
|
UBank UHomeLoan – 1 Year Fixed Rate |
1 Year Fixed Rate home loan from UBank. | 5.97% | 6.40% | $395 / $0 | 80% | $100,000 / $1,000,000 |
|
UBank UHomeLoan – 3 Year Fixed Rate |
A competitive 3 Year Fixed Rate home loan. | 6.08% | 6.28% | $395 / $0 | 80% | $100,000 / $1,000,000 |
|
UBank UHomeLoan – 5 Year Fixed Rate |
Lock in certain repayments for 5 Years. | 6.64% | 6.47% | $395 / $0 | 80% | $100,000 / $1,000,000 |
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UBank UHomeLoan Features
Choose from fixed or variable rates- UBank gives you the flexibility to select or fixed or variable interest rate for your loan. If you prefer the security of knowing your rate will be protected from any steep rises in base rates then you can currently fix your UBank loan for a competitive rate.
If you would rather go the variable route in the hope that rates stay lower, then you will be able to take advantage of one of the cheapest rates available.
No Fees- With the UBank UHomeLoan there are no application fees to worry about, and there are no regular administration fees to think about meaning that you are only going to pay for what you borrow!
Make Over payments- Some lenders will force you to stick to your minimum payment, even if you had money spare that you wanted to pay toward your loan. The idea being that the lender gets their full share of the interest charges with no way out for you.
UBank let you make as many over payments as you want so you can get your loan paid of faster, as well as saving money on your interest costs.
Flexible Payment Terms- You can choose how often you make your regular payments to UBank. If you get paid monthly and want to pay your loan monthly you can. If you get paid weekly and would find it easier to manage weekly payments then no problem! Let UBank know and they will set you up for weekly payments.
There is even the option to make the loan interest only for a period of time if you are in a situation where money is tight.
The Loan Is Portable- If you decide to move home you will not lose the loan or have to pay a penalty. The product is fully portable and can be secured on your new home, giving you the full freedom to move as you wish.
Generous Loan To Value Rate- At present you can borrow 80% of your property value, giving you plenty of room to manoeuvre.
UBank UHomeLoan Security And Loan Accessibility
One of the biggest worries many consumers have at the present is the security of their lender. With so many financial institutions struggling to survive they want to know they are in safe hands. UBank is backed by giant NAB so you know you are dealing with a company with years of experience and expertise.
The NAB customer service trait is present too, with a special dedicated 24 hour customer service team who are there to help you whatever time of day or night.
Easy To Apply
The application process is very quick and simple with this product. In fact you can apply online and receive an answer within minutes. As long as you are within the following criteria you can apply today:
- You must be an Australian resident over the age of 18 years old.
- You must have a permanent address in Australia
- You have to be employed. You will not accepted you if self employed
- You are refinancing your home vs a new buy
- The maximum loan to value your require is 80%
If you fill these requirements then you can either apply via the website, or over the telephone where a helpful member of staff will go through the whole process with you.
Once you have filled out all of the application they will then let you know whether you are approved to move onto the next step.
You will then have to verify the details you have given to UBank by sending copies of supporting documents. There is no need to worry about the time factor here because there is even a function that allows you to upload your material so you get a quicker response.
With great rates, flexibility, and support from a major player in finance the UBank UHomeLoan could just be the best new home loan product to hit the markets for some time. Demand will be high so if you are looking for the best refinancing option for you…
Related posts:
- UBank UHomeLoan (Fixed Rate)
- UBank UHomeLoan (Variable Rate)
- UBank Home Loans
- 30 Year Fixed Rate Home Loan
- St.George Three Year Fixed Plan
- ANZ Three Year Fixed Rate Home Loan
- 3 Year Fixed Rate Home Loans Comparison
- ANZ Five Year Fixed Loan
- HomeStar Home Loans Review and Comparison
- 5 Year Fixed Rate Home Loans Comparison
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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