ubank - Neat Variable Home Loan
Variable | Owner Occupied | Principal & Interest | LVR up to 60% | Borrowing between $80,000 and $5,000,000
The ubank Neat Variable Home Loan offers an advertised interest rate of 6.09% p.a. and a comparison interest rate of 6.11% p.a.. The ubank Neat Variable Home Loan is suitable for Owner Occupiers with Variable terms.
More ubank Neat Variable Home Loan details can be found below or visit ubank to learn more or apply.
A Variable rate loan for Owner Occupiers repaying the Principal & Interest with an advertised interest rate of 6.09% p.a. and a comparison interest rate of 6.11% p.a.
Advertised Rate
6.09% p.a. Variable
Comparison Rate
6.11% p.a. Variable
Application Fee
$250 one off
Loan To Value
60%
Interest
Rate Type
Variable
Advertised Rate
6.09% p.a.
Variable
Comparison Rate
6.11% p.a.
Variable
Calculation Frequency
Daily
Application Frequency
Monthly
Terms
Suitability
Owner Occupiers
Borrowing
$80,000 to $5.0m
Term
1 to 35
years
Loan To Value
60%
Repayment
Type
Principal & Interest
Frequency
Monthly, Weekly, Fortnightly
Extra Repayments
Yes
Fees
Application Fee
$250
one off
Ongoing Fee
$0
per year
Discharge Fee
$300
per event
Switch Loan Fee
$100
per event
Features
Redraw
Yes
Loan Offset
No
Loan Split
No
Loan Switching
Yes
Who is the product designed for?
The target market of this product are customers who are likely to have the following objectives, financial situation, needs and eligibility criteria. They are:
Objectives and Needs
- A person seeking a residential home loan with basic features.
- A person that wants an interest rate that varies with flexible
repayment options. - A person wanting the ability to pay down their loan faster by making additional repayments.
- A person wanting the ability to withdraw extra loan repayments that have been made.
- A person wanting the convenience of being able to conduct their banking when they want.
Financial situation
- A person that has access to sufficient income to meet repayment obligations.
- A person that has a defined exit strategy to pay any outstanding amounts due at the end of the loan term.
- A person that is seeking an owner occupied loan with principal and interest repayments, with at least 15% equity in their home.
- A person that wants to minimize repayments for a defined period by only repaying the interest due on the loan.
- A person that is able to repay increased principal and interest repayments after the defined interest-only period.
Eligibility Criteria
- Be individual(s), aged 18 years or older
- Meet ubank’s income and serviceability requirements.
- Be able to offer a first mortgage over established Australian residential property.
- Be living in Australia
- Be an Australian or New Zealand citizen, or permanent resident of Australia.
Visit ubank to view Target Market Determination Effective From: 2023-12-08.
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