Ubank Neat Variable Home Loan

With competitive interest rates for home buyers and investors, this variable rate loan offers flexibility and affordability from a digital lender.

With unlimited extra repayments, the Neat Variable home loan from ubank offers both competitive interest rates and the flexibility to repay your home loan faster. Interest rates are lower for those with bigger deposits, and the loan is available for both home buyers and investors, with the choice to make interest-only repayments for a set period.

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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification.

Expert review

This variable rate loan has a number of flexible features designed for borrowers who are focused on keeping costs as low as possible and repaying their home loan sooner. It offers competitive rates, with rates dropping further for those with a larger deposit (a 40% deposit or more gets you the cheapest rate) and there are no ongoing fees.

About this loan

What are the features and benefits of the UBank Neat Variable home loan?

  • Accessible. The ubank Neat Variable home loan is available for both owner-occupiers (home buyers) and property investors. It has different rates for each. Borrowers can also choose interest-only repayments.
  • Loan-to-value ratio. You can borrow up to 85% of your property's value.
  • Features. This loan lets you make unlimited extra repayments, allowing you to funnel money into the loan to pay it off sooner. It also has a redraw facility, so you can access those extra repayments if needed.
  • Fees. The loan has an application fee, but there are no annual and ongoing fees.
  • Loan term. New owner-occupier purchasers can get loans with a longer term of up to 35 years.

How to apply

If you'd like to apply for this home loan or just get more information, click the green button and follow the application process to speak to an ubank mortgage specialist.

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    Default Gravatar
    May 2, 2023

    Is the cash back offer still going?

      May 15, 2023

      Hi Neeraj,

      Ubank’s cashback offer is no longer on offer. It was available for applications submitted by April 30.

    Default Gravatar
    March 25, 2023

    Currently on finder, there is a cashback offer for new customers.
    Is this only for refinancing? or does the cashback offer extend to new customers as well, who are just looking for a home loan?

      April 6, 2023

      Hi Simon,

      This offer is open to both buyers and refinancers.

      Cashbacks are available for purchasers and refinancers taking out Own and Neat home loans. Investors and owner-occupiers are eligible for the cashback.

      Borrowers taking out a new loan of at least $400,000 with an LVR of 80% or lower can get a $4,000 cashback.

      Borrowers taking out a new loan of at least $1,000,000 with an LVR of 80% or lower can get a $5,000 cashback.

      Hope this helps!

    Default Gravatar
    January 17, 2023

    When I look on the UBank website it says that the variable interest only up to 80% LVR comparison rate is 5.19%, through Finder here it says 4.94%, which is correct?

    Also what is involved in the cash back offer?

      January 27, 2023

      Hi Darren,

      Thank you for bringing this to our attention. Our page has been updated to avoid confusion. It’s our main goal to always provide accurate information to our users, so we really thank you for contacting us about this.

      There are currently no cashback offers available through Ubank.

      Kind regards,

    Default Gravatar
    September 22, 2022

    Hi, will refinancing a loan of 149,000 interest only qualify for the cashback offer?

      September 30, 2022

      Hi Loretta,

      I’m afraid to be eligible for the cashback offer your loan size needs to be at least $250,000.


    Default Gravatar
    July 5, 2022

    My home in ACT has a market value of about 750000 dollars. I still have 132000 dollars in loan from NAB. If I refinance that amount with variable rate with Ubank, can I do that and how long the application process will take?. Thanks

      July 6, 2022

      Hello Zulfiquar,

      The application process varies depending on your circumstances and the lender’s capacity to process applications. I suggest submitting an enquiry and asking for a rough estimate from the lender.

      I hope this helps.

      Kind regards,

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