Unloan home loans

Unloan is a new online Australian lender and promises fast digital mortgage applications. It also charges no fees and discounts your rate by 0.01% each year. And it's owned by Australia's largest bank. Currently, Unloan is only lending to refinancers and not new borrowers.

Compare Unloan home loans for December 2023

1 - 2 of 2

Updated regularly

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

Close

Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupierRefinance	Interest Rate 5.74%	Comparison Rate 5.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to siteMore Info Compare
Unloan Variable Home Loan Principal & Interest20% min. depositInvestmentRefinance	Interest Rate 6.04%	Comparison Rate 5.95%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $905	Go to siteMore Info Compare

loading

Load More

Showing 2 of 2 results

Unloan home loan features

Here are the key features and details you need to know about Unloan's mortgage product.

How do I apply for an Unloan mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

When applying for an Unloan home loan, a borrower should generally meet the following criteria:

• 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 Unloan you may need 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:

• Property details. As a refinancer you will need your property's address. It should be a home in a metro area of NSW or Victoria.
• 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).

How to apply for a home loan

Lenders like Unloan

If you want to compare loans from similar lenders to Unloan then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:

• Ubank. An online bank backed by NAB.
• ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012. It's also owned by BOQ.
• Tic:Toc. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
• ING. This online bank is part of the global Dutch-based financial group of the same name.
• Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
• Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.

More home loan questions

• How do I compare Unloan home loans?

  To make sure you find the right Unloan loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:

  • Are you comfortable applying online or by phone? Because Unloan is an online lender you need to be comfortable completing the home loan process via the web.
  • What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan rate. Unloan has both.
  • Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes altogether?
  • What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.

• What is home loan pre-approval?

  Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.

• Are there any risks going with a smaller lender?

  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) or the Australian Securities & Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.

• Should I go with a fixed or variable rate?

  Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.

  A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.

• Do I need a mortgage broker?

  Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.