Unloan variable home loan

Unloan is backed by the Commonwealth Bank. This home loan is for refinancers only and has a low variable rate with a built-in discount.

Unloan is an online lender backed by the Commonwealth Bank. This online home loan offers refinancers a low variable rate and a quick online application. It has rates for investors and owner-occupiers.

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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) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

Unloan's digital mortgage is a good pick for refinancers who are looking for a low rate above everything else, and a quick online application. It's especially suited to borrowers who don't need offset accounts and just want to focus on a cost-effective mortgage they can manage online.

About this loan

What are the features and benefits of the Unloan variable home loan?

  • Loan purpose. The Unloan variable home loan is available for borrowers who are refinancing an existing owner-occupier or investor loan.
  • Rate discounts. Unloan applies a 0.01% rate discount every year of the loan. This works out to be a 0.30% discount in the final year of a 30-year term.
  • Loan-to-value ratio. You can borrow up to 80% of your property's value.
  • No fees. Unloan doesn't charge any fees, although you may have to pay a mortgage registration fee to the government at settlement.
  • Extra repayments and redraw. This loan lets you make unlimited extra repayments and redraw.

How to apply

To apply for this home loan or learn more about it, click the green button and follow the steps to connect with Unloan and start an application.

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    Default Gravatar
    November 8, 2023

    Hi if you have started to work for yourself how long is it advised to wait till applying for refinancing a loan?

      November 9, 2023

      Hi there, Usually banks and lenders like to see at least 2 full financial years’ worth of financial documents. However your ability to a loan approval depends on a number of factors, so it’s worth contacting the lender and asking what your options are. They may be able to assess you without properly processing the loan application, therefor not impacting your credit rating.

      Hope this helps!

    Default Gravatar
    August 20, 2023

    Hey can you advise when the date mixed to its current 5.74%? Does this include the latest rate rise movement from the RBA? (It would be really handy to see a graph of the interest rate for each loan so it were easy to follow timing of movements to make comparisons easier)

      August 21, 2023


      Yes the current rate includes the most recent cash rate increase.

    Default Gravatar
    June 16, 2023

    I applied for a loan about two weeks ago. Have asked for an update but have received nothing. Please can someone provide me with an update.

      June 16, 2023

      Hi Catherine,

      This is a review site, we’re not affiliated with Unloan. You’ll need to contact their customer support team directly for an update on your loan:
      You can chat them live any time between 8am – 8pm (AEDT), 7 days a week via their website.
      Or Call anytime on 1300 630 000 to request a callback.

      Hope this helps!

    Default Gravatar
    June 13, 2023

    Hi team, just wondering about the redraw facility, which is available, and the offset account is not available. Does a redraw facility work as efficiently as the Offset account in terms of putting extra repayments to reduce the principal amount, therefore paying less interest? Thanks.

      June 16, 2023

      Hi there,

      Offsets and redraws are very similar. The main difference is that some banks have a minimum amount you can redraw (eg $500).

      With unloan, the minimum amount you can redraw is $1. You will be initially set up with a default maximum ($20,000 per day limit), but you can increase this limit up to $100,000 per day if you wish.

      You can make redraw transactions through the app.

      Hope this helps!

    Default Gravatar
    June 5, 2023

    Do you need to refinance a loan to be eligible for this investment loan? …..or can you start a new loan with LVR of approx 72%

      June 8, 2023

      Hey Kez,
      I’m afraid that at the moment Unloan doesn’t offer new loans, you must be refinancing from an existing loan.

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