UBank Home Loans

Enjoy competitive home loan rates from UBank, with the security of one of the big four banks in Australia and the convenience of a 100% online lender.

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UBank

On this page you can find information about UBank home loans. Skip ahead to the full table of products or read more about the lender.

Compare UBank home loans

Here are rates for three different UBank mortgage products. Hit the "Load more" button to compare a bigger selection of products and hit "Go to site" to go to Ubank's website for the selected home loan.

Rates last updated August 23rd, 2019
$
Loan purpose
Offset account
Loan type
Repayment type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.09%
3.09%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.49%
3.49%
$0
$0 p.a.
80%
Get a discounted, low-fee investor loan from a convenient online lender. 20% deposit required.
2.99%
3.63%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.

Compare up to 4 providers

UBank lender profile

  • UBank is an online-only lender backed by the National Australia Bank (NAB).
  • UBank’s deposits are covered by the Government Guarantee (up to $250,000 per person, per institution).
  • UBank does not have any physical branches in Australia but its representatives can be contacted online, or via phone or Skype.
  • UBank also won Best Online Customer Service at the 2017 Finder awards.

UBank mortgage features

UBank has multiple home loans for investors and owner occupiers, with fixed and variable rates.

FeatureDetails
Deposit sizeYou can borrow up to 80% with a UBank mortgage.
Split rateMost UBank mortgages allow you to split your loan into fixed and variable portions.
Interest onlyThe The UBank Fixed Home Loan has interest only rates for investors and owner occupiers.
RedrawThere is no redraw facility on the UBank Fixed Rate loan, but there is on the UBank Variable Rate loan.

How do I apply for a UBank mortgage?

Clicking "Go to Site" on UBank's comparison table will start your application process and redirect you through to UBank’s website.

Eligibility

Each Ubank product have specific eligibility criteria but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Ubank you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

  • Identification documents. You will need identification such as a driver's license, passport or birth certificate.
  • Proof of income documents. Recent payslips can establish your income.
  • Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

Detailed guide to home loan applications and paperwork

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Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.09% p.a. and a 3.09% p.a. comparison rate.

Logo for Athena Variable Home Loan - Refinance (Owner Occupier, P&I)
Athena Variable Home Loan - Refinance (Owner Occupier, P&I)

Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.

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34 Responses

  1. Default Gravatar
    RoslynApril 16, 2018

    Do you offer loans for an investment property?

    • Default Gravatar
      JoelApril 17, 2018

      Hi Roslyn,

      Thanks for leaving a question on finder.

      I checked on their website and YES they do business loans as well. If you are looking to compare companies who do business loans, please go HERE.

      Cheers,
      Joel

  2. Default Gravatar
    DanniApril 15, 2016

    I am interested in your current fixed rates 3.99 % for 1& 3 yrs. I currently have a home loan with CBA .
    The balance ATM is $220,000 variable rate ,considering refinancing.
    I have read some the previous posts & unclear. When you state 20% deposit is required of the value of the property to refinance with you-
    Do you mean the valuation the bank originally did , the valuation of the property on my rates notice or what I originally borrowed from CBA ??
    Danni

    • Avatarfinder Customer Care
      MarcApril 22, 2016Staff

      Hi Danni,
      thanks for the question.

      For the purposes of refinancing, borrowers must have 20% equity in their home to be eligible for this home loan. This refers to the amount of the property you own e.g the property value minus the current loan on the property. UBank will find out your property value using either a virtual valuation or with a physical inspection to verify this, not using the other figures you’ve mentioned.

      I hope this helps,
      Marc.

  3. Default Gravatar
    NginJanuary 25, 2016

    I want to know more about.

    • Avatarfinder Customer Care
      MarcJanuary 27, 2016Staff

      Hi Ngin,
      thanks for the question.

      You can find out more about UBank home loans by comparing them in the table on this page, and clicking the ‘More info’ link. Alternatively, if you wish to speak to UBank directly, you can click the green ‘Go to Site’ button.

      I hope this helps,
      Marc.

  4. Default Gravatar
    janetJuly 28, 2015

    Could you please tell me the understanding of:

    1. variable loan

    2. variable interest loan

    3. principle interest loan

    thank you

    • Avatarfinder Customer Care
      MarcJuly 28, 2015Staff

      Hi Janet,
      thanks for the question.

      Here is a basic rundown of each term, for more information you can check out our comprehensive home loans guide.

      1. A variable loan is a home loan with an interest rate which can change from time to time over the course of the loan term. How often the rate changes will depend on your bank and the economy. This is different to a fixed rate home loan, where you lock in a rate for an agreed amount of time, during which the rate doesn’t change.

      2. A variable interest loan is the same as the variable loan mentioned above. It can also be called a variable rate home loan.

      3. A principal and interest loan refers to a loan where some of your repayment goes towards paying the interest due each month, and some of it goes towards the actual amount you have borrowed – known as the principal. As the years go on you will slowly pay off the principal (the loan amount you borrowed) so that there is no amount remaining.

      I hope this helps,
      Marc.

  5. Default Gravatar
    JohnNovember 27, 2014

    Hi,
    I want to refinance 300k .Currently I am with CBA .
    Can you please tell me the process?
    how long it will take?
    is there any application fees or valuation charge?.
    Is there any ongoing fees?
    Will I be able to get an offset a/c?.
    What will be the interest rate?.
    Is there any early termination fees?.
    Regards
    John

    • Avatarfinder Customer Care
      ShirleyNovember 27, 2014Staff

      Hi John,

      Thanks for your question.

      If you’d like to refinance to UBank, the first step would be to choose and enquire for the UBank home loan you’d like. The duration of the process is hard to say because it depends on UBank, the borrower and CBA. It could take a few weeks, depending on how smooth the paperwork goes.

      The fees and charges applicable to your UBank home loan depends on the loan your choose. If you click through to our reviews and head into the ‘fees’ tab, you can see what foreseeable fees and charges will apply to your loan. Again, your offset account, early termination fees and interest rate will depend on the specific loan your choose.

      If you’d like anymore information, please let us know.

      Cheers,
      Shirley

  6. Default Gravatar
    jenelleNovember 5, 2014

    Hi
    could you tell me please what LVR stands for and also if you are paying extra money weekly off a variable loan does the amount of years you take the loan over make a difference?

    • Default Gravatar
      jenelleNovember 10, 2014

      hi
      We currently have a variable home loan with ANZ for$130,000
      would we be eligible for the U Bank variable rate of %4.45 if we change over and also would we have to provide 20 percent deposit?

    • Avatarfinder Customer Care
      ElizabethNovember 10, 2014Staff

      Hi Jenelle,

      Thanks for your question.

      The UBank UHomeLoan is available for refinancing applications, so if you meet the eligibility criteria you’ll be able to apply. The 20% deposit related to the value of your property, so if your property is worth $130,000 and you’re looking to take out a $130,000 loan, then you would need to provide a 20% deposit. If your home is worth more (having paid off some of your loan with ANZ) then you may not need to pay the deposit, as long as you’re taking out a loan that is less than 80% of the value of your property.

      I hope this has helped.

      Thanks,

      Elizabeth

    • Avatarfinder Customer Care
      ShirleyNovember 5, 2014Staff

      Hi Jenelle,

      Thanks for your question.

      LVR stands for loan the value ratio.

      If you’re paying extra money on a weekly basis, it tends to reduce your loan term though it does depend on much you’re paying off as well. If you opt for a loan term that is too long and you pay it offer early, you could be liable for an early discharge fee though this mainly depends on the home loan and lender.

      Cheers,
      Shirley

  7. Default Gravatar
    FredAugust 22, 2014

    I would like to borrow money for a house through my self managed super fund do you lend for this type of loan and do I
    Require a 20% deposit before I can apply

    • Avatarfinder Customer Care
      ShirleyAugust 22, 2014Staff

      Hi Fred,

      Thanks for your question.

      Unfortunately to be eligible for this home you need to be looking to purchase a residential property or refinance your current home loan.

      If you’d like, you can compare SMSF home loans on this page.

      Cheers,
      Shirley

  8. Default Gravatar
    HeatherJuly 12, 2014

    Hi there,
    My father has offered to pay mortgage insurance for my husband and myself, instead of being a guarantor for the loan. Approximately how much (based on a $350,000 home) would we need to have as a deposit to get our foot in the door?

    • Avatarfinder Customer Care
      ShirleyJuly 14, 2014Staff

      Hi Heather,

      Thanks for your question.

      The UBank UHomeloan requires a 20% deposit, so deposit of $70,000 will be required.

      Cheers,
      Shirley

  9. Default Gravatar
    KevinJune 25, 2014

    Hi, Im looking at refinancing with Ubank. I am a customer with Ubank already. I saw that the minimum loan term for a variable rate home loan is 3 years. Does that mean i can’t pay off the loan sooner if some extra money comes to hand which allows me to pay off earlier than 3 years. If i can, will their be fees involved in paying it off earlier. Also, if i decide to purchase another property and borrow from ubank, does it become one loan or two separate loans and will i have to borrow less than 80% to avoid any fees.

    • Avatarfinder Customer Care
      ShirleyJune 27, 2014Staff

      Hi Kevin,

      Thanks for your question.

      In the terms and conditions it states that, ‘you may pay an additional amount in repayment of the Facility at any time provided that You give Us at least two Business Days notice of your intention to make the early repayment. You must not pay an amount under the Facility before it is 12.due and payable. We are not obliged to accept such a payment.’

      There is likely to be fees involved, up to the discretion of UBank. If you intend to purchase another property, then generally it becomes two separate loans.

      Borrowing under 80% LVR means you can avoid LMI, but the standard fees still apply such as application, establishment fees etc. if applicable.

      Cheers,
      Shirley

  10. Default Gravatar
    GregMay 22, 2014

    Hi, does Ubank offer home loans to investors? I am already a Ubank customer. Cheers, Greg

    • Avatarfinder Customer Care
      ShirleyMay 23, 2014Staff

      Hi Greg,

      Thanks for your question.

      UBank currently offers one home loan, the UHomeLoan.
      At the moment, it’s only available to borrowers looking to purchase a residential property or refinance a current home loan.

      Cheers,
      Shirley

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