Hit the "Load more" button to compare a bigger selection of products and hit the green button to go to ubank's website to start an enquiry or learn more about the loan.
Here are the key features and details you need to know about ubank's mortgage products.
| Feature | Details |
|---|---|
| Minimum deposit | Most ubank loans have 80% maximum LVRs, which means you can borrow up to 80% with a ubank mortgage. But they do offer some low deposit loans, from 10% deposit/90% LVR. |
| No LMI | Ubank waives LMI for eligible borrowers taking out a Neat or Flex variable home loan with a low deposit of 10% for new borrowers and 15% equity for refinancers. |
| Fees | Ubank loans have very low fees, including no application or ongoing fees. This could save you hundreds of dollars in loan costs. |
| Repayment options | Both ubank's fixed and variable rate loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans. |
| Split rate | Most ubank mortgages allow you to split your loan into fixed and variable portions. |
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, 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).
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To make sure you find the right ubank loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
"Make sure to check that the amount you want to borrow is within the amount that ubank are prepared to loan. I did not do this, and got to the end of a 30 minute application process only to be told that my application was denied because they did not loan the amount of money I wanted to borrow. "
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA). Because ubank is owned by NAB, it is considered an authorised deposit-taking institution (ADI). This means customers with money deposited in a ubank savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000. Even if the bank itself collapses.
This doesn't affect home loan borrowers, of course. Once your lender loans you the money at settlement they can't take it back.
If you want to compare loans from similar lenders to ubank then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
This flexible variable rate home loan offer from a digital lender is suitable for both home buyers and investors.
What is your best rate 4 yr fixed? 69% LVR. $810k. No annual fees no app fee no valuation fee.
Hi Martin,
Thanks for your comment.
I’ve emailed you about your request.
Cheers,
Shirley