UBank's new variable UHomeLoan now 6.99%p.a. with no

3 March 2011

From today, UBank's new online home loan solution, UHomeLoan, has a variable rate of 6.99%p.a. (6.92%p.a. comparison rate) for home owners looking to refinance.

UBank doesn't charge customers any bank fees to set up and run a variable UHomeLoan, which means no application, account keeping, administration or early exit fees.

Customers will receive a 0.10%p.a. Loyalty Discount on the variable interest rate, for the life of their loan, once they've held a variable UHomeLoan for three years or longer.

Alex Twigg, General Manager of UBank, says UHomeLoan is a hassle-free, low-cost home loan, for people looking to refinance and get a better deal on interest rates and fees.

"At UBank, we're putting control in the hands of our customers and rewarding them for their loyalty, with no gimmicks and great everyday value.

"UHomeLoan is a quick and simple online solution, which takes refinancing out of the ‘too hard basket'," said Alex.

It takes less than 30 minutes to lodge a UHomeLoan application, via ubank.com.au or over the phone. Partly completed applications can be saved and completed at a later time.

Once completed, customers can expect settlement in as little as 10 business days. UBank customers can track the progress of their home loan from application to settlement entirely online, with the innovative UHomeLoan Application Tracker tool.

UHomeLoan customers are able to borrow up to 80% of the value of their property.

UBank's Australian based Direct Banking Centre operates 24/7 on 13 30 80 or via Skype (account: ubank.com.au).

Media contact:

Jessica Forrest
UBank (NAB Corporate Affairs)
0457 536 958 or jessica.a.forrest@nab.com.au