UBank Home Loans

Read on to compare some of UBank’s key home loan interest rates and the key features they have.

UBank is an online-only lender launched in 2008 as a division of National Australia Bank (NAB). As an online bank, UBank has no physical branches.

Other than mortgages, UBank also offers other financial products and services such as savings accounts, term deposits and SMSF accounts.

Read on to learn more about some of UBank’s key home loans and features.

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Compare UBank Mortgage Rates

Lender
Advertised rate Comparison rate* Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details

Discount Offer Variable Home Loan OO P&I (LVR < 80%)

VariableMore details

Discount Offer for Investor Variable P&I Rate

VariableMore details

Discount Offer Variable Home Loan OO P&I (LVR > 80%)

VariableMore details

UHomeLoan - Standard Variable OO (Principal and Interest)

VariableMore details

Discounted Variable Rate (Owner Occupied Interest Only) (LVR > 80%)

VariableMore details

Inv UHomeLoan Variable (Interest Only)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of January 22, 2022. View disclaimer.

What home loans does UBank offer?

UBank has a range of mortgages for both owner-occupiers and property investors, offering fixed and variable rates as well as principal & interest and interest-only repayment options.

UBank home loan interest rates

You can find a complete list of UBank's home loan rates here:

Some of UBank's key home loan products include: 

  • Variable UHomeLoan: A variable mortgage with unlimited redraws and no application fees or ongoing fees
  • Fixed UHomeLoan: A fixed-rate mortgage for one to five years with no ongoing fees and 20% minimum deposit.

UBank home loan features

UBank offers a variety of mortgage features, such as:

  • No ongoing fees: UBank variable mortgages have no ongoing fees or application fees
  • Flexible payments: You can make weekly, fortnightly, or monthly loan repayments on a number of its loans 
  • Split loans: You can split your mortgage between fixed and variable interest rates up to four times with a minimum split of $20,000
  • Unlimited redraws: UBank's variable mortgages have no limit on redraws of extra repayments
  • Flexible & convenient online banking: There are a range of online features for your convenience, including an online application tracker and a "digital human" application assistant called Mia 
  • Discounts for loyalty: If you've held your mortgage for three straight years (or stay after your fixed-rate expires), you can get a 0.10% point loyalty discount off your variable rate. 

UBank home loan features

UBank offers a variety of home loan features, such as:

  • No ongoing fees: UBank variable home loans have no ongoing fees or application fees
  • Flexible payments: UBank allows you to make weekly, fortnightly, or monthly loan repayments on a number of its loans
  • Split loans: You can split your home loan between fixed and variable interest rates up to four times with a minimum split of $20,000
  • Unlimited redraws: UBank’s variable home loans have no limit on redraws of extra repayments
  • Flexible & convenient online banking: UBank offers a range of online features for your convenience, including an online application tracker and a “digital human” application assistant called Mia
  • Discounts for loyalty: If you’ve held your UBank home loan for three straight years (or stay after your fixed-rate expires), you can get a 0.10% point loyalty discount off your variable rate.

How to apply for a UBank home loan

Eligibility criteria

To apply for a UBank home loan you must meet their lending criteria:

  • You must be 18 years of age or older
  • You must be an Australian or New Zealand citizen or Australian
  • Permanent Resident
  • You must be residing in Australia and have an Australian mobile number
  • You must have an email address
  • You must be outside your probationary period of employment
  • You must be buying a house or unit that’s 50 square metres or greater (including balconies, car parking and storage cases)
  • Or 40 square metres or greater (excluding balconies, car parking and storage cases)
  • You must be purchasing or refinancing an established property

Since UBank is an online-only lender, you can apply for a UBank home loan via their website

Documents needed

Applying for a UBank home loan will require you to submit certain documents such as:

  • Proof of identity validating your name, address and birth date. This can be your passport, Medicare card, driver’s license etc.
  • Details of your ongoing monthly expenses such as food expenses, childcare, clothing, transport etc.
  • Saving accounts statements
  • Proof of ongoing rent or board
  • Assets and liability documents
  • If you are an employee they will typically require two recent payslips and the most recent payment summary or tax return
  • If you are self-employee they will typically require the last two years’ of company tax returns

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Lender
Advertised rate Comparison rate* Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
VariableMore details
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of January 22, 2022. View disclaimer.