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UBank UHomeLoan Fixed Rate

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The UBank UHomeLoan Fixed Rate can give you the security of knowing your interest rate won't change

One of the benefits of fixing in your interest rate is the certainty that your repayments can’t increase throughout the fixed term. This could be ideal for anyone who wants predictable repayments for a safe family budget. It could also be great for investors who want a level of assurance that their investment loan costs are fixed.

UBank offers a range of fixed rates for different terms, and is backed by the National Australia Bank (NAB), one of Australia's big four banks.

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About this loan

What are the features and benefits of the UBank UHomeLoan Fixed Rate?

The UBank UHomeLoan Fixed Rate loan is suitable for refinancing and new purchases. This means if you're currently paying a higher rate of interest with another lender, you could save money by refinancing with UBank. You'll reduce the amount of interest you pay on your mortgage, slashing your monthly repayments.

  • Split loan options: You're able to split your loan so that a portion of it is set at the fixed rate, while the remaining portion stays on a variable rate. UBank will allow up to four account splits, which can be great for people wanting separated payment or accounting arrangements for investment or personal uses.
  • No monthly account fees: This saves you over the course of the life of the loan.
  • No application fees: There are no application fees for the UBank UHomeLoan; however, you will have to pay a $395 fee to lock in your rates in case rates rise before your loan has settled.
  • Maximum loan-to-value ration of 80%: The minimum loan amount available is $100,000. The maximum loan amount is capped at $2,000,000.
  • Payments can be set to principal and interest: This means a portion of every payment you make covers the interest due and the remaining portion reduces your initial balance.
  • Repayment flexibility: Repayments can be made weekly, fortnightly or monthly. Making more regular repayments saves you more money in interest, and can better suit how you're paid.
  • Fees may apply: Keep in mind that break fees may apply if you pay off your fixed rate home loan early. This may include selling the property or refinancing your loan over to another lender before the end of the fixed term. If you know you're likely to sell your home within that time, you may benefit by choosing a shorter fixed rate term or remaining on a variable rate so you can avoid break fees.
  • Additional repayments: If your loan was approved on or after 28 September 2013, you can make up to $20,000 in additional repayments during the fixed term. For all other loans you may be charged break fees for making additional payments into your fixed rate home loan. If you want to make additional repayments you may want to consider choosing a split facility. If you make additional repayments on the variable rate portion of your loan, you can apply to have your remaining payments recalculated. This may be a considerable benefit if you happen to receive a large lump sum that you want to pay into your mortgage. UBank will work out your reduced repayment amounts and the remaining loan term based on your new balance.
  • Accessibility: You can access your home loan account at any time using UBank's secure online banking portal. You can log in and view your statements, as well as see any payments you've made and interest amounts charged. You can also change your payment frequency via your online banking account.

Information button Note: There is no redraw facility available on a fixed rate home loan with UBank. The redraw feature is only available on variable rate home loans, so if you wish to use this facility you may need to think about splitting your loan.

What fees and charges come with this loan?

  • Break costs Varies $. You will need to pay break costs if you intend to repay all or any part of your loan early.
  • Application fee $395. This fee is charged to protect against any interest rate change.

How to apply

If you would like to apply for this loan, please click 'go to site' to be safely redirected to the application page. The online application form is secure so your information is always kept completely confidential. You must be over 18 years of age at the time you apply, and you need to be a permanent resident of Australia. If you're currently an American resident, UBank advises that you get in touch with them directly to start an application.

Eligibility

  • You have an Australian residential address
  • You're currently receiving PAYG income from an employer as your primary source of income. Please note that rental income, unemployment benefits, superannuation, pension and family payments are not considered as a primary source of income.
  • You have never been declared bankrupt and you've never committed a financial crime

You will need to provide

  • Your mobile phone number and email address. If you're opening a joint application, both applicants will need to have different email addresses.
  • If you intend to refinance, a recent home loan statement
  • Details about your income, assets and expenditures

You can track your application process online to see whether your application is being assessed, whether further information is required or if it's moved on to the approval stage.

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get $4,000 cashback (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

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16 Comments

  1. Default Gravatar
    Peter
    April 28, 2018

    UBank site says they only provide 30 year loan terms, I am after 25 year term. Your site says terms vary from 10 years to 30 years. Is your info correct? Is there a way to get 25 year loan with ubank?

    • Avatarfinder Customer Care
      Jeni
      April 29, 2018

      Hi Peter,

      Thank you for getting in touch with finder.

      It is true that all of their UHomeLoan terms are 30 years however if you have a variable rate UHomeLoan, you can make additional repayments of any amount at any time completely fee free so you can repay in less than 30 years.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      I suggest that you get in touch with UBank for more info on home loans and other financial products they offer.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  2. Default Gravatar
    Jelly
    April 23, 2016

    Who are the mortgage brokers, who deal with U bank investment loans, I am interested in one to give me a ring? Thanks

    • Avatarfinder Customer Care
      Marc
      April 26, 2016

      Hi Jelly,
      thanks for the question.

      Unfortunately we’re currently unaware of any mortgage brokers who include UBank on their lending panel, but most mortgage brokers should be aware of their product and can help answer questions about whether or not it would suit you.

      I hope this helps,
      Marc.

  3. Default Gravatar
    Sew
    April 18, 2016

    How much is the exit fee/termination fee of this 3 year fixed rate loan?

    • Avatarfinder Customer Care
      Belinda
      April 20, 2016

      Hi Sew,

      Thanks for reaching out.

      The break fee for the Ubank UHomeLoan Fixed Rate will vary depending on the economic conditions at the time, the loan size, and when exactly in the loan period you request the break.

      As an estimate, it may start at around a few hundred dollars but it does depend on a range of factors as mentioned above.

      If you would like to be quoted a figure for this fee, please get in touch with Ubank directly.

      Kind regards,
      Belinda

    • Default Gravatar
      Sew
      April 20, 2016

      Will there be any valuation fee for the 3 year fixed rate loan?

    • Avatarfinder Customer Care
      Marc
      April 22, 2016

      Hi Sew,
      thanks for the question.

      There are no valuation fees for the 3 year fixed rate UHomeLoan.

      I hope this helps,
      Marc.

  4. Default Gravatar
    Sajid
    December 19, 2015

    Dear Sir, / Madam,
    I need home loan for construction of a new home. I live in Pakistan so please send me the process for a loan.
    Sajid

    • Avatarfinder Customer Care
      Marc
      December 22, 2015

      Hi Sajid,
      thanks for the question.

      Unfortunately this loan is only available to purchase Australian property.

      Cheers,
      Marc.

  5. Default Gravatar
    sjeve
    November 17, 2014

    Can I have a fixed rate 3 year investment loan with a trust with individual trustees holding the property?

    • Avatarfinder Customer Care
      Shirley
      November 17, 2014

      Hi Sjeve,

      Thanks for your question.

      Unfortunately UBank only have a facility for personal accounts at this time.

      Cheers,
      Shirley

  6. Default Gravatar
    John
    July 24, 2014

    Current loans $16k left on home loan.
    Home value $650k
    LOC loan $28,000
    Investment loan $452K
    Property worth $430k
    Want to refinance.
    Combine home loan and LOC New loan $44k Interest and principal
    Investment property loan $452k Interest only.

    What is the best you can do for us?

    Thanks,

    John

    • Avatarfinder Customer Care
      Shirley
      July 25, 2014

      Hi John,

      Thanks for your question.

      Unfortunately you’ve come through to finder.com.au, an online comparison service. We are not directly affiliated with UBank, so we can’t make offers on their behalf.

      If you would like to see what UBank can offer you, please click “enquire now” to be safely redirected to their enquiry page.

      Cheers,
      Shirley

  7. Default Gravatar
    Shiu
    November 21, 2013

    how much fee to split loan . Is there any annual fee

    • Avatarfinder Customer Care
      Shirley
      November 22, 2013

      Hi Shiu,

      Thanks for your comment.

      Opening a split account is free with this home loan there is also no annual fee.

      Hope this helps,
      Shirley

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