ubank FAQs

Info on current ubank products

This FAQ is related to a current ubank product. Head to our help centre if you want info about original ubank products that new customers can no longer access.

What fees will apply if I pay my loan off early?

Congratulations on paying your loan off early! If you’re on a Neat variable or Own variable loan, you won’t be charged for paying off your loan early.

If you’re on an Own fixed loan, you may be charged break costs if you pay your loan off early during your fixed term. You can make additional payments up to $20K during your fixed term at no charge. If you are looking to pay more than $20K during your fixed term, ring us on 13 30 80 to know exactly what your break costs will be.

Give us a call on 13 30 80 if you’ve already paid your loan off so we can arrange for a Discharge Authority form to be sent to you. This form will remove your lender from your property title. Once we’re ready to discharge your loan, you might get an email from First Mortgage Services (FMS) outlining any outstanding amounts you need to pay to finalise the release. We recommend that you pay down your loan prior to lodging your form with us. You will also need to pay a $300 discharge fee for each property that we discharge.