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 October 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.
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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 542 Finder guides across topics including:
What is your best rate 4 yr fixed? 69% LVR. $810k. No annual fees no app fee no valuation fee.
Finder
ShirleyJuly 2, 2013Finder
Hi Martin,
Thanks for your comment.
I’ve emailed you about your request.
Cheers,
Shirley
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What is your best rate 4 yr fixed? 69% LVR. $810k. No annual fees no app fee no valuation fee.
Hi Martin,
Thanks for your comment.
I’ve emailed you about your request.
Cheers,
Shirley