People have lots of reasons for refinancing, but one of the most common is to help with cash flow by having lower repayments over a longer term. However you can also refinance to access equity in your property for purposes such as renovation or debt consolidation. Whatever your reason, whether it's to renovate your home, to lower your repayments or to consolidate debt, the UHomeLoan has been developed especially for people looking to refinance an existing home loan.

We offer a choice of fixed or variable rates. Check out our latest rates.

Sorry, we don't negotiate on the interest rates that you see displayed at ubank.com.au, but the good news is we're confident that we'll always have some of the best rates around - without you needing to negotiate.

Interest is calculated daily, and charged to the loan account on the last day of each calendar month.

The comparison rate combines the lender's interest rate and ascertainable fees and charges into a single rate to show the true cost of a home loan. It doesn't include fees and charges that are not ascertainable such as break costs.

A variable rate home loan is perfect if you're looking for a low, ongoing variable interest rate that's easy-to-manage and has no monthly fees. You can also increase your repayment frequency and make additional one-off repayments without paying additional fees, so you could save money and own your home sooner.

No. The good news is that we're keen to make your home loan work harder for you by keeping fees charged by UBank to a minimum, so UBank will not charge you any application fees when you apply for a variable UHomeLoan.

Please note that when you refinance with UBank you may still incur costs from your existing lender or other external legal expenses. Also with a fixed UHomeLoan, UBank will lock your rate at formal loan approval, charging a fee of $395 to guard against any rate changes between formal loan approval and settlement. If at any time during the loan you decide to lock the interest rate the $395 is applicable each and every time.

If a Fixed rate loan is not settled after 60 days after formal approval the loan defaults to the variable rate UHomeLoan.

No. The good news is that we're keen to make your home loan work harder for you by keeping fees to a minimum, so there's no regular account keeping fees when you take out a UHomeLoan.

If you refinance with a variable UHomeLoan and then decide, for whatever reason, to pay out your loan early or to switch to another lender we won't charge you an exit fee - yes that's right there are no admin fees charged by UBank if you pay out a variable UHomeLoan early.

Fixed rate exit fees do apply if all or part of a fixed UHomeLoan is paid out early or if a fixed rate UHomeLoan is changed to a variable rate UHomeLoan. These exit fees compensate UBank for loss incurred when pay out occurs prior to the fixed rate expiry date. Fixed rate exit fees vary and can be expensive, so we recommend that you contact UBank to discuss the details should you be looking to break a fixed rate loan.

There may be a fixed rate break cost (referred to as the Lender's Early Repayment Loss in the UHomeLoan contract) if a fixed rate UHomeLoan is partially or wholly paid out before the completion of the fixed rate interest period. (We also may apply break costs if you swap to a variable rate or another fixed rate before the end of a fixed rate period).

Fixed rate break costs will be our reasonable estimate of our loss arising from the repayment of part or all funds prior to the fixed rate expiration date. Such a loss usually arises as a result of changes in market interest rates between the start of the fixed rate period and when the economic cost event or repayment event occurs.

Please contact us if you would like more information regarding the fixed rate break cost and how it is calculated.

With a UHomeLoan you can make additional one-off repayments at any time on top of your regular repayments. There are no fees for making additional repayments on a variable rate UHomeLoan. However additional repayments on a fixed rate UHomeLoan incur fees which can be expensive, so we recommended that you contact UBank to discuss these fees prior to making additional payments on a fixed rate loan.

You can do this by using the 'Once Off Payment' option in My UHomeLoan or you can simply increase your regular repayment amount by selecting 'Ongoing Payment' in My UHomeLoan and adding the new payment details.

If you have a variable rate UHomeLoan, you can increase your regular repayments.

However increasing your repayments on a fixed rate UHomeLoan can lead to fees being incurred. We recommended that you contact UBank to discuss these fees prior to changing your repayments on a fixed rate loan.

Yes, if you have a variable rate UHomeLoan with available credit, you can redraw funds at any time, with no fees. The minimum redraw you can make is $1000.

The quickest way to redraw funds is by logging in to My UHomeLoan. Firstly, nominate an account for the redraw funds to be transferred and then input the amount you wish to redraw. If you request a redraw through My UHomeLoan by 11am EST, the funds will be transferred to your nominated account by the close of the same business day.

No, you can redraw as many times as you like for free, as long as you have available funds. The minimum redraw you can make is $1000.

Your available credit can be found on the Redraw tab in My UHomeLoan. The redraw amount is calculated by taking your total loan amount minus your current balance.

Yes, you can BPAY® into your UHomeLoan using the BSB and account number that we'll provide you with at settlement. If you can't find these details, give us a call on 13 30 80 and we'll confirm them.

®Registered to BPAY Pty Ltd ABN 69079137518

Interest-only means you'll only be paying off the interest due on your loan for an agreed period of time. The principal (loan balance) will not reduce if you pay interest only. The interest only repayment option can only be applied for up to 10 years during the life of your UHomeLoan. With an interest-only UHomeLoan you can still make additional repayments on top of your regular repayments and this will reduce your loan balance.

This means your repayments will be structured to pay down both principal (loan balance) and interest (payable to lender) over the life of the loan.

If there are fluctuations in the market by the time your home loan is settled, the fixed interest rate you end up with may not be the same as when you applied. Therefore with a fixed UHomeLoan, UBank will lock your rate at formal loan approval, charging a fee of $395 to guard against any rate changes between formal loan approval and settlement (as long as this takes less than 60 days). If at any time during the loan you decide to lock the interest rate the $395 is applicable each and every time.

If the loan is settled 60 days after formal approval, the interest rate under your contract is the UHomeLoan variable rate.

Unless we say otherwise, with a UHomeLoan we'll reward you with a 0.10%p.a. Loyalty Discount off the variable interest rate when you've held a variable rate UHomeLoan product for 3 years. After which you'll earn the discount for the life of your UHomeLoan.

Alternatively, if after 3 years, you roll from fixed rate UHomeLoan product to a variable rate UHomeLoan product you will receive a Loyalty Discount on the variable rate product. See more FAQs on how the Loyalty Discount works.

(If we have a special discount offer, this ordinary discount may not apply. If that is the case, our terms for the special discount offer will explain that the ordinary discount will not apply.)

Yes. Your UHomeLoan needs to be linked to the BSB and account number of your nominated account to allow direct debiting of your scheduled instalments in addition to using it to receive redrawn funds and make additional payments via direct debit when requested. Salary crediting and BPAY® are ways of making additional payments and can be used for regular payments by prior arrangement, however redrawn funds can only paid to a linked account.

Unfortunately you can not link your USaver to a UHomeLoan as your nominated account as it is not a transaction account. You can however make additional repayments to your UHomeLoan from a USaver account.

You can split your UHomeLoan up to four times with a minimum split of $20,000. You can split your loan part variable and part fixed or you can decide for all splits to be either variable or fixed. Below are some examples of why you might decide to split your loan:

• Investment purposes - enabling you to keep separate records and statements for tax and accounting purposes.
• Own your home sooner - make extra payments on your variable split and you will reduce your loan balance.
• Lifestyle purposes - use the equity in your home to buy a car, renovate or to have a holiday.
• Peace of mind - split your loan between fixed and variable portions. The portion of the home loan that's fixed won't be impacted by fluctuating interest rates.

Unfortunately at the moment there are no offset facilities with a UHomeLoan. But you can pay your salary direct into your loan and then and redraw available funds. Please call us on 13 30 80 if you wish to chat further to one of our Direct Home Loan Specialists about this.

No, cash withdrawals and ATM access are not available with the UHomeLoan.

No, there is no overdraft facility with the UHomeLoan, but you can redraw any extra payments you've made to the loan.

You can choose to make payments weekly, fortnightly or monthly, whichever suits you.

Yes - if you pay a quarter of your minimum monthly payment weekly, or half the minimum monthly repayment fortnightly, you'll end up paying the equivalent of an extra month's payment over a year. But the saving's not just because you're paying more frequently - take a look at the effect of extra repayments by going to our UHomeLoan calculator.

You can apply online with our easy step-by-step application. You can even save a part-completed application and then finish it later.

We don't use a branch network so you can't walk in to a branch. Instead you can apply online and contact us over the phone, 24/7, if you have any questions.

No. The good news is that we're keen to make your home loan work harder for you by keeping fees charged by UBank to a minimum, so UBank will not charge you any application fees when you apply for a variable UHomeLoan.

Please note that when you refinance with UBank you may still incur costs from your existing lender or other external legal expenses. Also with a fixed UHomeLoan, UBank will lock your rate at formal loan approval, charging a fee of $395 to guard against any rate changes between formal loan approval and settlement fee. If at any time during the loan you decide to lock the interest rate the $395 is applicable each and every time.

The UHomeLoan is currently only available for people looking to refinance an existing home loan. And while we hope to create a variety of home loan options in the future, right now if you are purchasing a new property then you wouldn't be eligible for a UHomeLoan.

This depends on your individual circumstances, but to help give you an idea, we have our UHomeLoan calculator you can use to estimate how much you may qualify for. Please note that the minimum loan amount for the UHomeLoan is $100,000 and the maximum amount is $1 million, subject to approval.

The last thing UBank wants to do is put anyone in a position of financial hardship. So in some circumstances we'll ask a borrower 60 years of age and over to obtain independent financial advice before proceeding with a UHomeLoan application.

Yes if you're aged 60 or over then we strongly recommend that you obtain independent financial and legal advice. We will ask you to provide evidence of legal advice to UBank and how you intend to repay the homeloan, before we can determine if the UHomeLoan product may be suitable for you.

Refinancing is simply replacing your existing loan with a new one. When you refinance with UBank we'll work with you to get your new loan settled quickly without any fuss. And what's even better is that you can do everything online with minimal paperwork. In summary there are seven easy steps that we'll work through with you:

• 1. Apply: Apply securely online with our easy step-by-step application at ubank.com.au. The first step is to give us information about you and the loan you're applying.
• 2. Approval to proceed to the next stage: Once we have reviewed your information, we'll confirm in as little as 30 minutes whether you are eligible to proceed to the next stage of the process.
• 3. Verification: This is where we ask you to send us some documents so we can check the details you provided on the application form. Don't worry it's quick and easy - we've developed a tool that lets you upload your documents securely online or you can always post them to us.
• 4. Valuation: We'll organise an independent valuation of your property as security for your loan.
• 5. Assessment: We'll review your needs, financial position and objectives and offer you a UHomeLoan if it's right for you.
• 6. Approval: It's official!! If we think a UHomeLoan is right for you, we'll confirm your loan is approved and send you a Contract Pack to read, sign and send back to us.
• 7. Settlement: The big milestone - congratulations!! Your new UHomeLoan is now up and running - and it's time to sit back, relax and enjoy all the benefits (and savings) of having a UHomeLoan.

This depends on how quickly we receive all the relevant paperwork from you. From application until settlement, we'll send you regular email updates confirming where you're at and the next steps. And what's even better is that you can do most things online with minimal paperwork.

We generally require the following documents once you have completed the UHomeLoan application. We may also need you to complete a 100 Point ID Check to confirm your identity.

• Income evidence (generally your 2 most recent pay slips and most recent PAYG summary);
• Rental income evidence if you have an investment property;
• Loan statements for the loan(s) we are refinancing; covering the last 6 months.
• A recent copy of your council rates notice.

Please note that you can upload these documents securely online to the Application Tracker or you can mail them to us. Photocopies of original documents are fine and they do not need to be certified copies. We've even created a checklist so you can ensure you've got all the right documents.

UBank's first home loan product, the UHomeLoan, is available to employees only. So if you're self-employed we won't be able to accept your application at this stage. But please stay tuned for more loan options from UBank in the near future.

Sorry, not at the moment. The maximum number of borrowers is two. This is something we'll look at in the future as we develop a broader range of home loan products and services.

Sorry, not at the moment. This is something we'll look at in the future as we develop a broader range of home loan products and services.

Yes, in order to finalise your UHomeLoan, we'll conduct an onsite valuation on your property to confirm its market value. But don't worry UBank won't charge you anything to complete the valuation and someone will call you to organise a time that works for you.

The UHomeLoan is currently only for people looking to refinance an existing home loan. So if you own your property outright and are looking for a loan to only access equity in your property then we won't be able to accept your application at this stage. But please stay tuned for more loan options from UBank in the near future.

After applying we can confirm, in as little as 30 minutes, whether you've been approved to proceed to the next stage of the process. If you do proceed to the next stage, we'll request a few documents from you and then we'll review your needs, financial position and objectives and approve the loan if it is right for you.

We've developed an online "Application Tracker" allowing you to keep track of your application status, giving you full visibility of the process from start to finish. So you're not kept in the dark at any point, we'll also send you regular email updates informing you where you're at and the next steps.

There are two stages of the loan process where we'll require documentation:

• 1. When we're assessing your application, we'll ask you to supply us with a few documents to confirm the information you provided in your application. You can upload these documents quickly and easily online. We've even created a checklist so you can ensure you've got all the right documents.
• 2. After approval, you'll receive a Contract Pack. We need you to review and sign the Contract Pack documents, and post it back to us.

Settlement happens when your previous home loan has been discharged and your new UHomeLoan is formally in place.