UBank home loan repayment calculator

Thinking about taking out a home loan with UBank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how UBank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 3.09 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible loan options.
  • Loans have no ongoing or application fees.
  • Fast application and turnaround process.
  • Some loans offer additional discounts.
  • No branch network.
  • Loans require a minimum deposit of 20 per cent or more.
  • Loans don’t offer offset accounts.
  • Not available for self employed
  • Not available for off the plan

UBank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

3.09%

Variable

$0

3.09%

$0
UBank
More details

3.19%

Fixed - 5 years

$395

3.44%

$0
UBank
More details

2.99%

Fixed - 3 years

$395

3.45%

$0
UBank
More details

3.49%

Variable

$0

3.49%

$0
UBank
More details

3.67%

Variable

$0

3.60%

$0
UBank
More details

2.99%

Fixed - 1 year

$395

3.63%

$0
UBank
More details

3.14%

Fixed - 3 years

$395

3.85%

$0
UBank
More details

3.49%

Fixed - 5 years

$395

3.85%

$0
UBank
More details

3.29%

Fixed - 3 years

$395

3.89%

$0
UBank
More details

3.96%

Variable

$0

3.89%

$0
UBank
More details

3.64%

Fixed - 5 years

$395

3.91%

$0
UBank
More details

3.94%

Variable

$0

3.94%

$0
UBank
More details

3.14%

Fixed - 1 year

$395

4.09%

$0
UBank
More details

4.16%

Variable

$0

4.09%

$0
UBank
More details

3.29%

Fixed - 1 year

$395

4.10%

$0
UBank
More details

UBank customer service

As UBank is an online-only lender, it does not have any branches or mobile lenders. Home loan customers can contact UBank 24 hours a day by calling the customer support hotline or by using Skype.

✓     Phone: 1300 822 630

✓     Mobile app: Android, iPhone

✓     Online banking

✓     customer_resolutions@ubank.com.au

How to Apply

Customers wanting to apply for a UBank loan can apply by filling out an online application form or by calling the bank. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Name and contact details of each borrower.
  • Proof of income and employment.
  • List of income and expenses including credit card loans and car loans.
  • Property details like the contract of sale.

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including:

  • the amount owing on your mortgage
  • the value of your property
  • your current interest rate
  • name of existing lender
  • property address

We’ll compare this information to the home loan options in the RateCity database, and show you which home loan products you may be eligible to apply for.

You couldn’t beat my current rate – how do I claim my reward?

If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*

To do this, on your results page you’ll need to securely upload a bank statement or similar home loan document that can be used to confirm the home loan details you provided. We’ll keep your information private and confidential and only use your document to confirm your entry.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

What is the difference between offset and redraw?

The difference between an offset and redraw account is that an offset account is intended to work as a transaction account that can be accessed whenever you need. A redraw facility on the other hand is more like an “emergency fund” of money that you can draw on if needed but isn’t used for everyday expenses.

What is a standard variable rate (SVR)?

The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.

A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).

How safe will my information be?

We use encryption so you can safely and securely enter your personal and financial information on our website.

We keep all information entered on our site private and confidential. We will not pass your information on to people outside RateCity without your consent. 

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

Mortgage Calculator, Deposit

The proportion you have already saved to go towards your home. 

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by lenders such as BCU, Teacher’s Mutual Bank and Pepper. Even though these loans exist on the market, they are not overwhelmingly popular as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

What does going guarantor' mean?

Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.

Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

Why do I need to enter my contact details?

We ask for your contact details so we can get in touch with you if you are our winner!

We may also use your information to keep you up to date on future RateCity initiatives and news, if you select this option. You can opt out at any time.

If, after checking how much you could save on a lower home loan rate, you choose to get more help from a home lender or mortgage broker, you can choose to let us pass your contact details directly on to this lender or broker so they can contact you.

Why do I need to enter my current mortgage information?

We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.

For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.