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  • UHomeLoan
    from 3.59% p.a.[06]
    Owner-occupier loans over $200K

    Refinance and enjoy no annual or ongoing fees

    [06] Variable & comparison rate for new Owner Occupier Principal & Interest loans over $200,000. Includes discount offer. Terms & Conditions apply.

Getting started

Choosing to refinance your home loan can be confusing. We’re here to help.

We’ve put together key information to make your choice easier.

  

Navigate your way to refinancing with UBank

Things to consider

Your current situation

Refinancing gives you an opportunity to take stock of your current financial situation and determine if there’s a better loan available. 

Make sure you know:

  • Your current interest rate and repayments
  • If you’re paying any monthly fees
  • If your loan type, fixed or variable, works for you
  • If your repayment type - principal and interest or interest only, meets your requirements
  • If there are any other features that are important to you
  • Whether your current lender will charge you for leaving them

Why refinance?

Before you go ahead, you need to have a clear objective as to why you’re refinancing.

Do you want a better rate on your mortgage? Are you looking for better customer service? Or do you want to reduce or consolidate your monthly loan repayments?

At the end of the day, by refinancing, you may end up making your loan term longer or you may choose to borrow additional funds. Either way, you need to weigh up the pros and cons.

Compare the costs

When comparing loans, you need to take into account all the fees and costs that may be applicable. These may include exit fees, break fees, valuation fees, settlement fees and any government fees and charges.

Make sure you use the comparison rate to get a better idea of the total cost of the loan.

Ultimately, you need to weigh up the costs and benefits.

Home loan features

Make sure you check the product features of any new home loans before you make the switch.

If you find something in your current loan useful, such as redraw, you want to ensure your new loan offers that too.

Some home loan features have the ability to save you a lot of money over the life of your loan, so it’s important to weigh these up and apply them to your own goals.

Explore how the numbers add up

  

Features

We have some great features that should put us top of your list when thinking about refinancing.

No ongoing fees

Did you know some lenders application fees can be over $1,000 and some home loans have annual fees of over $350?

If you refinance your mortgage with us, you’d have no monthly account fee, no annual fee and no ongoing costs (except your regular loan repayment). The only fee we charge is a rate lock fee if you choose a fixed rate loan.

Redraw

On a variable rate loan, you have an unlimited number of redraws so you can easily access extra cash if you’re already ahead of your scheduled repayments.

Banking at your fingertips

Our online banking is flexible and convenient and includes an online application tracker to keep you updated with everything you need to know from submitting your refinance application to approval.

Great customer service

Our Australian-based customer service team is ready to help 7 days a week.

About the application process
  • Apply


    Kick off your application in as little as 4 minutes. A home loan specialist will call you by the next day.

  • Documents & Valuation


    We’ll need some documents to verify your situation and we’ll also do a valuation on your property.

  • Loan Assessment


    Before a loan is approved, we need to assess your application.

  • Loan Contract


    We’ll send you a Contract Pack that contains all the legal documents we’ll need to settle your loan.

  • Settlement


    After you’ve returned all relevant documents, our settlement agent will arrange settlement with your current loan provider.

Ready to get started?