Manage my UHomeLoan

The easiest way to manage your loan repayments is by direct debit from a linked account. That way, payments happen automatically and on time.

You would have nominated an account to link to your UHomeLoan when completing the loan contract, so this will be set up for you automatically in My UHomeLoan. The hard work is done!

There are a range of other repayment options to choose from if this method doesn’t suit you, but we’ll still need you to have a direct debit set up should your circumstances change.

Direct credit / electronic funds transfer (EFT)

When you open your account we’ll give you your BSB and Account Number.

You can then transfer funds from your chosen bank account to your UHomeLoan. Please check with your bank first as restrictions may apply.

How to change the Direct Debit account linked to your UHomeLoan

Simply complete the Direct Debit Request form and return it to us. Too easy!

Be sure to nominate a bank account that allows direct debits. USave savings accounts can’t be linked to your UHomeLoan account.

BPAY®

Transfer funds electronically using the BPAY® Biller Code and Reference Number specific to your UHomeLoan. You can find this enclosed in your Welcome pack and online in My UHomeLoan.

Salary credit

You can make repayments by having your salary credited to your UHomeLoan.

Provide your UHomeLoan BSB and account number to your employer and make sure your salary goes into the account at least two business days before your repayment is due.

If you’d like your salary to offset your repayments on your variable loan, please give us a call on 13 30 80.

If you are making principal and interest repayments on your variable or fixed¹ UHomeLoan, changing the frequency and amount of your ongoing repayments is quick and easy.

Log in to My UHomeLoan > Payments > Ongoing payments > Edit ongoing payment

Select the frequency of payments and your existing or new repayment value – that’s it, you’re done.

The change will take effect after the next scheduled payment.

If you wish to change the payment date, you will need to call us on 13 30 80 and we’ll get it sorted.

If you are making interest only repayments on a variable or fixed UHomeLoan, you can only make monthly payments.

¹ Break costs may apply if you repay all, or any part, of your fixed UHomeLoan early.

Paying more than the minimum repayment is a smart way to get on top of your home loan – you could save interest and reduce the life of your loan. You can easily increase the amount of your repayments at any time if you have a variable rate UHomeLoan.

Simply call us on 13 30 80 and we’ll arrange this for you.

If you have a fixed rate UHomeLoan, you may be able to increase your repayments but you could incur break costs. Please call us if you would like to discuss your options.

If you’ve made additional repayments on your variable rate UHomeLoan, you may have available credit that you can redraw funds from at any time, with no fees. However, note that your accumulated redraw amount available will reduce over the life of your loan to enable your loan to be repaid by the contracted final repayment date.

Redraw online by logging in to My UHomeLoan. Go to Payments > Redraw.

If you have a variable rate UHomeLoan, you can make additional repayments of any amount at any time. It may help you pay off your loan sooner.

Important: if you have elected to make regular minimum repayments only and you then make additional payment(s), your minimum repayments will decrease and your contracted final repayment date will stay the same.

If you’ve chosen a fixed¹ rate UHomeLoann, and your loan was formally approved on or after 28 September 2013, you can make up to $20,000 in additional repayments during the fixed term without incurring break costs. (Any more than this, and break costs may apply – call us on 13 30 80 to find out more.)

How to make an extra payment

• Arrange a direct debit from your nominated account directly to your loan account. Log in to My UHomeLoan > Payments > ‘One off payments’
• Direct credit / EFT from your chosen bank account to your UHomeLoan
• BPAY® using your Biller Code and Reference Number

Keep in mind, your next home loan repayment will continue to be debited as scheduled unless you have selected to offset your repayment. In addition, you do have the option to re-calculate your repayments to a minimum – call us on 13 30 80 for more details on these repayment options.

¹ Break costs may apply if you repay all, or any part, of your loan early.

If you have a variable rate loan and wish to

• change all, or part of, your loan from variable to fixed complete the Fixed rate conversion authority (variable to fixed) form
• change your repayment type to principal and interest, reduce your interest only term, split or consolidate splits, simply fill out the Change authority for a variable rate UHomeLoan form

If you have a fixed rate UHomeLoan¹ and wish to change all, or some, of your loan from fixed to variable, or make a one-off payment to your fixed rate loan, simply call us on 13 30 80 to request for the indicative fixed rate break costs.

¹ Break costs may apply if you repay all, or any part, of your loan early or if you “break” your fixed rate by changing all or part of your fixed rate loan to a variable or different fixed rate.

Whether you’re improving your home, buying a new car or planning a family holiday … you may be able to increase the size of your existing UHomeLoan to finance it.

The minimum loan increase amount is $20,000, subject to credit approval.

To request a top up, simply fill out the Loan Variation form.