UBank Home Loans

UBank wins Canstar Outstanding value award

UBank is a provider of home loans, savings and transaction accounts, term deposits, and SMSF accounts.

Compare UBank Home Loans

Here’s a snapshot of UBank’s home loans currently on offer for a purchase value of $600,000 in NSW, with links direct to the providers website. Please note that this table is formulated based on paying both principal and interest whilst being sorted by comparison rate (lowest to highest). To compare other home loans, please click here.

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The inclusions below represent a selection of the features available with a standard variable rate home loan for an owner-occupier. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Please ensure that you read the product disclosure statement (PDS) to determine all the current loan terms and conditions for the product you are considering.

UBank variable home loan features

  • Redraw facility available.
  • Repayments may be made weekly, fortnightly, or monthly.
  • Lump sum repayments and additional repayments are available.
  • No establishment fee or ongoing fees.
  • Top up facility available.
  • Accessible online through My UHomeLoan portal.

What types of home loans does UBank offer?

At the time of writing, UBank offers the following types of home loans:

  • Variable rate home loan
  • Fixed rate home loan
  • Investment home loan

Find out about how different types of home loans work here.

See our comparison tables for details of UBank home loans:

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UBank FAQs

You can apply for a UBank home loan by clicking on the UBank home loan product of your choice in the Canstar home loan comparison tables. Follow our applying for a home loan checklist, and if you need help applying, you can call UBank on 13 30 80 or use their live chat on the UBank website.

Yes, UBank allows extra repayments on both their variable and fixed-rate home loans. However break fees (a.k.a. break costs) may apply for fixed rate loans. Terms and conditions apply; contact your lender for details.

UBank offers a redraw facility on their variable rate home loans. Fees and charges may apply to use of a redraw facility; contact your lender for details.

UBank lets you make home loan repayments via direct debit, salary credit, BPAY, or bank transfer. Additionally, they let you make payments either weekly, fortnightly, or monthly.

If you’re in the market for a home loan, compare your home loan options with Canstar:

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UBank was launched as a start-up division of NAB in 2007 and they opened Australia’s first online-only mortgage in 2011. As an online-only bank, UBank has no branches and therefore faces fewer costs than traditional banks. They pass these savings to customers in the form of better interest rates, and Australian-based customer support.

Applying for a home loan and getting help with that loan is quick and easy, as you can chat to a customer service representative online or over the phone, 24/7. Contact options on offer include phone, Skype, or the National Relay Service for Deaf customers (includes TTY, speech-to-speech relay, and internet relay).

With their research showing that just 16% of Aussies know what interest rate they’re paying on their home loan (UBank, 2015), UBank offers the My UHomeLoan online portal to help people track their home loan more easily. They also offer customers a stack of budgeting and savings tools online and in their mobile banking app, as well as savings graphing tools and calculators.

UBank and Andrew Daddo have teamed up in the 1-hour TV episode All I Need to show how the ever-expanding “Australian dream” only leads to debt and stress, while a simpler life with a smaller mortgage really can give you more for less. Find out more by watching this thought-provoking social experiment on UBank’s YouTube channel.

Source: UBank

Head of Digital at UBank, Jeremy Hubbard, says of the first digital mortgage, “There was some debate around whether or not this feature would be used. It was a sizeable investment for UBank at the time and we had a choice to make; we could either stay safe like all of the other banks were doing at the time or we could trust our instincts.

“Within the first two months of launching our digital mortgage to the market, more than 90% of our customers were uploading their documents online.

“So my advice is to get out of your own way, trust your instincts and don’t be bound by the way it has always been done in your organisation or industry.”

How UBank supports the community

Cerebral Palsy Alliance: UBank partners with Cerebral Palsy Alliance to help the organisation provide family-centred therapies, life skills coaching, equipment, and support for people living with cerebral palsy and their families.

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Written by: TJ Ryan | Last updated: May 24, 2018