Highlights
- Application fee: $0
- Legal fee: $0
- Loan is portable
- Service fee: $0 per annum
- Settlement fee: $0
- Valuation fee: $0
Other Features
- Able to split loan
- Comparison rate: 5.83%
- Exit fee: $0
- Extra repayments allowed
- Fortnightly repayments allowed
- Loan amount: $100,000 to $1,000,000
- Loan term: Up to 30 years
- Maximum interest only period (investment): 10 years
- Maximum interest only period (owner/occupied): 10 years
- Maximum loan to value ratio (LVR): 80%
- Redraw facility available (Minimum $1,000 per redraw)
- Repayment holiday available
- Variable interest rate: 5.83%
For a Limited Time UBank are offering a 0.20% Loyalty Discount on their Variable Rate UHome Loan to online applicants which means a variable interest rate of 5.83%. (This replaces the 3-Year Loyalty Discount)
About This Loan
The UBank Variable UHomeLoan offers low, ongoing variable interest which allows you to redraw extra cash if you're ahead on payments. You can split the UHomeLoan up to four times with a minimum split of $20,000.
Features & Benefits
No Bank Fees
No application or administration fees means you can save your money to pay off your loan, rather than wasting it on bank fees.
Additional Repayments
You can make additional repayments toward this home loan free of charge. This allows you to pay this loan off more quickly when you have extra money available to you at times during the loan term.
Interest Only Payments
You can access an ‘Interest Only’ option with this UBank home loan where you only pay the ‘interest amount’ on the loan for a period of time. During this time you won’t be making any repayments to the principal and will be paying interest on the entire principal amount every month.
Redraw
With this redraw feature, you can make unlimited cash re-draws back out of this home loan. This allows you to access funds that you have already paid into the loan so that you can draw these back out. When you redraw, you can only redraw additional amounts that you have paid into the loan above the standard monthly amounts.
Break Costs
No break costs if you pay out the variable loan early.
Other Information
Portability
If you buy another property, you could keep the same loan and secure it against the new property
Loyalty Discount
A 0.10% Loyalty Discount off the variable interest rate when you've held a variable rate UHomeLoan for 3 years. After which you'll earn the discount for the life of your loan.