as titled.T+C apply.see website for details.i'm not very lucky with this. applied before that… good luck.
Please check Terms and Conditions before applying.
Referrer and referee each receive $30 after referee makes 5 settled card purchases within 30 days.
Yep this seems dodgy. It says apply for a ubank homeloan, and give them all your details and documentation.
"Apply for a UHomeLoan by 30 November and we'll give you a $1,000 gift card."
but the T&C says to get the $1000 your application must be:
"Unconditionally approved within six (6) weeks from the date of the online application (your
application is unconditionally approved when you receive an email from us that states it has
been approved); "
Which is a shame, I noticed there was no age restriction so my two toddlers were going to apply :-)
yes. and pray they dont drag the process out to after 30/11 :)
There is a maximum of 200 gift cards available. If more than 200 customers are eligible to receive
a gift card, gift cards will be awarded to the first 200 eligible customers based on date of
application.
Tsk tsk.
If you read the reviews aroudn the internet for this homeloan, you will find they are very very strict with criteria, a lot of people have been annoyed by the application process. I believe they actually have a very low success rate as they have extreme criterias for acceptance. It's all part and parcel of offering such a low rate - reduce effort by making the customer run the yards, strict acceptance criteria and only selecting 'extra safe' loans.
I've given it a go. Whats the worst that can happen? :)
Best case scenario, free $1000 and a better home loan!
yeah.that's what ubank told me. have nothing to lose..
just need to apply before 30/11,and can be approved later.upload all documents within 5 days. which is for someone can be very challenging, as ubank is quite picky with the documents.
T&C: loans with a loan amount of less than $300,000 are not eligible
Well, that's a crock.
I guess it just goes to show that its never worth paying more than the minimum off your "home loan" account - get a pair of offset accounts instead: use one for savings and one for tracking extra payments off your home loan
That way it's paid off just as fast and you always get the bonuses.
Also I heard paying off the homeloan rather than the offset affects ability to gear later with a second home? Not sure about that, I'm not lucky enough to afford two places.
Having an offset account, makes it simpler to claim a deductible interest payment.
Financial advisers often claim that without an offset account, you will not be able to distinguish your deductible and non-deductible interest payments. Thus you will need to pay a premium for an offset account, which often includes a commission that is passed onto the mortgage broker or homeloan provider… or the financial adviser himself.
However, I'm not 100% sure that the financial advisers are telling the truth…
I have a feeling that anyone who attempts to redraw to the value of >$300k, or appears to have the ability to pay down the loan quickly, will be turned down.
I went ahead with the $500 gift card offer a few months ago. Yes the application process can be a little torturous (more than a little), but I'm glad I stuck with it and saw it through. I'm very happy with the loan and I did get the gift card without having to chase it up.
We refinanced a year ago, with the $500 gift card deal..but only if approved within 6weeks..we got it approved within 5 weeks, but we were very quick in returning documents (the following day from receiving)..if anyone is trying for the 6 week approval, ensure EVERYTHING is triple checked before sending it (prevents any document returns, etc), and send promptly, no delay .
Worth the effort, has saved us thousands already, and the $500 card was mailed out as they said it would (it did take at least 6 weeks from memory though)
I just want to say, that I originally submitted my request to refinance back in Aug-13 and im still waiting for finalisation of my loan today. Pretty annoyed at how long its taking. Im also expecting a giftcard from a voucher i collected at a home & property expo for signing up with them.
They are quite strict about who they want to accept.
i assume you actually have to have the loan approved before you get the $1000 :)