Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
- Immediate cashback upon settlement
- $2000 for loans up to $700,000
- $4000 for loans over $700,000
ubank has been providing Australians with a wide range of banking products, including home loans, savings and transaction accounts since 2008.
ubank makes applying for a home loan fast and simple with 24-hour a day customer support. The company is backed by NAB, one of Australia's big four major banks. Because they are entirely online, their overheads are lower, meaning they can afford to provide borrowers with lower home loan rates and fees.
In May 2022, ubank officially absorbed the neobank 86 400, unveiling a new logo that features the 86 400's colour scheme, styling, and font.
ubank CEO Philippa Watson said the merger of the two entities is part of the broader strategy to enhance our customer experience and create more competitive banking alternative for Australian consumers.
“Together, we will develop a leading digital bank and create the next generation of simple, fast and mobile banking solutions for our customers,” she said.
While ubank has no branches for customers to visit directly, they have a great online banking presence, as well as a 24/7 call centre based in Australia.
Advantages of a ubank home loan
- Fast application – ubank boasts a fast and convenient application system that operates entirely online. ubank provides convenience by giving customers access to an online application tracker.
- Availability of support – Customers will be able to reach out to ubank’s local home loan experts to guide them in every step of the way.
- Flexibility and convenience in home loan products — ubank provides several home loan features that would fit particular circumstances.
- Low rates — With the reduced cost of operating online, ubank is able to provide some of the market’s lowest rates for home loans.
How to apply for a ubank home loan
To apply online through ubank's online digital application, applicants can:
- can only use one property as their security property
- can’t apply for owner occupied loans with interest only repayments
- can apply jointly with their spouse or de facto partner that they currently live with or intend to live with after settlement in the same household. (You and a sibling or parent wouldn’t be able to apply for a ubank home loan together).
Eligibility criteria includes:
There is a max of 2 applicants for a ubank home loan. To be eligible, each applicant will need to:
- be 18 years old or over
- be an Australian or New Zealand citizen, or a permanent resident of Australia
- live in Australia
- have a good credit rating (don’t worry, we’ll run the report for you)
- be listed on the property title.
Self-employed applicants will not be eligible. Other employment types (contract, permanent full-time or part-time, and casual are accepted).
ubank accepts PAYG income (at least one applicant has to have PAYG income to be eligible), rental or investment income, and certain Australian government payments, including pensions.