| Home loan product | Interest rate | Comparison rate | Monthly repayment | ||
|---|---|---|---|---|---|
The monthly repayment is calculated on a loan amount of $550k over 30 years.
One of the few online-only lenders in Australia, UBank has been providing Australians with a wide range of banking products, including home and car loans plus savings and transaction accounts since 2007.
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. Because they are entirely online, their overheads are lower, meaning they can afford to provide borrowers with lower rates and fees.
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. For any branch-free bank, customer service has to be top notch, otherwise they won't survive.
They offer mortgages up to 30 year terms, and have won several awards from Money magazine and other finance industry watchers.
As borrowers can only apply for a loan online, it's important to make sure you have all the available information you'll need to apply for a loan. Be sure you have the following available:
Additionally, anyone looking to refinance will need to provide statements the last six months of their existing loans, and anyone looking for a construction loan will have to provide proof of sale, council approved plans, and building quotes.
| 2.09%p.a.Interest rate | 2.32%p.a.Comparison rate |
| 1.99%p.a.Interest rate | 1.99%p.a.Comparison rate |