These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Ubank is an online Australian lender owned by NAB. Ubank has home loans for investors and owner-occupiers, including fixed and variable rates. Check out the full table of ubank products below or read more about the lender and its loans.
Compare ubank home loans for November 2024
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.
{"userFilters":[{"componentType":"MULTI-SELECT CHECKBOX","options":{"comparator":"contains","includeAllSelection":false,"defaultMatcher":"ANY","values":["Owner-occupier","Investor"],"fields":[{"label":"Owner-occupier","value":"Owner-occupier","comparator":"contains"},{"label":"Investor","value":"Investor","comparator":"contains"}]},"dataSelector":{"recordType":"VARIANT","fieldCode":"DETAILS.LOAN_PURPOSE"},"dataType":"TEXT","label":"Loan Purpose","queryParameter":"loanpurpose","order":0},{"componentType":"MULTI-SELECT CHECKBOX","options":{"comparator":"contains","includeAllSelection":false,"defaultMatcher":"ANY","values":["Fixed","Variable"],"fields":[{"label":"Fixed","value":"Fixed","comparator":"contains"},{"label":"Variable","value":"Variable","comparator":"contains"}]},"dataSelector":{"recordType":"PRODUCT","fieldCode":"DETAILS.PRODUCT_TYPE"},"dataType":"TEXT","label":"Loan type","queryParameter":"loantype","order":1},{"componentType":"MULTI-SELECT CHECKBOX","options":{"comparator":"contains","includeAllSelection":false,"defaultMatcher":"ANY","values":["5","10","20","30","40"],"fields":[{"label":"less than 5%","value":"5","comparator":"lte"},{"label":"10%","value":"10","comparator":"eq"},{"label":"20%","value":"20","comparator":"eq"},{"label":"30%","value":"30","comparator":"eq"},{"label":"40% or more","value":"40","comparator":"gte"}]},"dataSelector":{"recordType":"VARIANT","fieldCode":"DETAILS.MIN_DEPOSIT"},"dataType":"PERCENTAGE","label":"Min. deposit","queryParameter":null,"order":2},{"componentType":"SINGLE-SELECT CHECKBOX","options":{"fields":[{"label":"Offset account","fieldCode":"FEATURES.MORTGAGE_OFFSET","comparator":"eq","value":"1"},{"label":"Redraw facility","fieldCode":"FEATURES.FACILITY_REDRAW","comparator":"eq","value":"1"},{"label":"Extra repayments","fieldCode":"FEATURES.EXTRA_PAYMENTS","comparator":"eq","value":"1"},{"label":"Cashback","fieldCode":"GENERAL.CASHBACK","comparator":"eq","value":"1"},{"label":"Finder award winner","fieldCode":"GENERAL.FINDER_AWARDS_WINNER","comparator":"eq","value":"1"}]},"dataSelector":{"recordType":"VARIANT","fieldCode":null},"dataType":null,"label":"Features","queryParameter":"features","order":3},{"componentType":"PROVIDER","options":null,"dataSelector":{"recordType":"PRODUCT","fieldCode":"GENERAL.PROVIDER_ID"},"dataType":"UUID","label":"Lender","queryParameter":null,"order":4},{"componentType":"FULL MARKET COMPARISON","options":null,"dataSelector":{"recordType":null,"fieldCode":null},"dataType":null,"label":"Finder Partners","queryParameter":null,"order":5}],"niche":{"currencySymbol":"$","decimalPoint":".","decimalPlaces":"2","thousandsSeparator":","},"prefilled":false,"experimental":false}
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. This means you can borrow up to 80% with a ubank mortgage. There are no loans for borrowers with low deposits (that is, deposits below 20%). Some loans require larger deposits.
Fees
Ubank loans have very low fees, including no application or ongoing fees. This could save you hundreds of dollars in loan costs.
Most ubank mortgages allow you to split your loan into fixed and variable portions.
How do I compare ubank home loans?
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:
Are you comfortable applying online? Because ubank is an online lender you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
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 at all?
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.
"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. "
Joe Waller
Finder crew member
How do I apply for a ubank 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
Each ubank product have specific eligibility criteria but some will apply to all products. For example:
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 ubank you are required 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: 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 license, 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).
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.
Lenders like ubank
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:
Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
Tiimely Home. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
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.
ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
ING. This online bank is part of the global, Dutch-based financial group of the same name.
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
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:
Are you comfortable applying online? Because ubank is an online lender you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
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 at all?
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.
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.
Pre-aproval is not something every lender offers, but many do.
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.
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.
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.
What is Finder Score?
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.
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), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 553 Finder guides across topics including:
Regarding the Upfront Discount Offer (on your advertised Home Loan of 4.62%), how long does that offer apply for? Does it get withdrawn after 3, 6 or 12 months? Or does it stick around for the life of the loan?
Regards,
Craig.
Finder
MarcApril 3, 2014Finder
Hi Craig,
thanks for the question!
This discount sticks around for the life of the loan, although bear in mind that this is a variable rate loan, so your loan rate could be higher or lower depending on the movements of the official cash rate.
I hope this helps,
Marc.
LindsayFebruary 10, 2014
Do you offer bridging finance?
Finder
MarcFebruary 11, 2014Finder
Hi Lindsay,
Thanks for the question.
While UBank currently only offers loans for refinancing or purchasing a new property, you may find more information about bridging home loans from our guide or speak with a licensed mortgage broker that can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
Cheers,
Marc
SteveJanuary 31, 2014
I am looking at bidding on an investment property in Brisbane. I have retired a year ago and we have approx. $500,000 in Aust Shares, 2 Commercial properties valued at $1.8Mill (generating $120K net per annum) and a 3bdrm Holiday Unit in Maroochydore in the Holiday Rental Pool. We own our 5 brm home in Buderim ( valued $880,000) and have no debt apart from credit card that we clear each month.
Can you advise what the repayments on $500,000 loan for the Brisbane Unit would be on 1/ Interest only &
2/ P & I
over 30 years please.
I would use the Brisbane Unit as security.
Regards,
Steve
Finder
ShirleyJanuary 31, 2014Finder
Hi Steve,
Thanks for your comment.
According to our home loan repayment calculator, you will have a monthly repayment of $1925 with interest only repayments and with the principal and interest repayments, it will be around $2569.20.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
SYPDecember 5, 2013
Can you please advise if you provide finance for a knock down and rebuild. The current home valuation is $480k. The land is approx $350k. With the rebuild costing $350k. Would you use an end valuation of $700k for your LVR calc? Assuming I would like a loan of 80% will you be able to provide finance up to $560k?
I need $120k for an investment loan into shares secured against the home and $350k to commence the building work. Thank you
Finder
ShirleyDecember 5, 2013Finder
Hi Syp,
Thanks for your comment.
You’ll need to ask this question directly to Ubank as all home loans that require construction or ‘works’ are handled on a case by case basis. Ubank may also use their own valuation services, up to their discretion depending on your situation. There have been some reviews quoting that Ubank generally doesn’t approve construction loans.
Hope this helps,
Shirley
LennyAugust 16, 2013
Hi, with $600K loan at 80% LVR, what is your best variable rate at the moment? Thanks.
Finder
ShirleyAugust 16, 2013Finder
Hi Lenny,
Thanks for your comment.
Ubank products are suitable for refinancing and new purchases. If you are looking to refinance, you may want to have a look at UBank UHomeLoan (Variable Rate). Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
Cheers,
Shirley
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Hi,
Regarding the Upfront Discount Offer (on your advertised Home Loan of 4.62%), how long does that offer apply for? Does it get withdrawn after 3, 6 or 12 months? Or does it stick around for the life of the loan?
Regards,
Craig.
Hi Craig,
thanks for the question!
This discount sticks around for the life of the loan, although bear in mind that this is a variable rate loan, so your loan rate could be higher or lower depending on the movements of the official cash rate.
I hope this helps,
Marc.
Do you offer bridging finance?
Hi Lindsay,
Thanks for the question.
While UBank currently only offers loans for refinancing or purchasing a new property, you may find more information about bridging home loans from our guide or speak with a licensed mortgage broker that can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
Cheers,
Marc
I am looking at bidding on an investment property in Brisbane. I have retired a year ago and we have approx. $500,000 in Aust Shares, 2 Commercial properties valued at $1.8Mill (generating $120K net per annum) and a 3bdrm Holiday Unit in Maroochydore in the Holiday Rental Pool. We own our 5 brm home in Buderim ( valued $880,000) and have no debt apart from credit card that we clear each month.
Can you advise what the repayments on $500,000 loan for the Brisbane Unit would be on 1/ Interest only &
2/ P & I
over 30 years please.
I would use the Brisbane Unit as security.
Regards,
Steve
Hi Steve,
Thanks for your comment.
According to our home loan repayment calculator, you will have a monthly repayment of $1925 with interest only repayments and with the principal and interest repayments, it will be around $2569.20.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
Can you please advise if you provide finance for a knock down and rebuild. The current home valuation is $480k. The land is approx $350k. With the rebuild costing $350k. Would you use an end valuation of $700k for your LVR calc? Assuming I would like a loan of 80% will you be able to provide finance up to $560k?
I need $120k for an investment loan into shares secured against the home and $350k to commence the building work. Thank you
Hi Syp,
Thanks for your comment.
You’ll need to ask this question directly to Ubank as all home loans that require construction or ‘works’ are handled on a case by case basis. Ubank may also use their own valuation services, up to their discretion depending on your situation. There have been some reviews quoting that Ubank generally doesn’t approve construction loans.
Hope this helps,
Shirley
Hi, with $600K loan at 80% LVR, what is your best variable rate at the moment? Thanks.
Hi Lenny,
Thanks for your comment.
Ubank products are suitable for refinancing and new purchases. If you are looking to refinance, you may want to have a look at UBank UHomeLoan (Variable Rate). Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
Cheers,
Shirley