Ubank Home Loan Rate Difference between New and Existing Customers

No on 08/07/2015 - 20:40
Last edited 08/07/2015 - 21:39

I have had a ubank home loan since they first started doing them. I seem to recall my discount being 0.25 when I signed up, today I am paying slightly more than the advertised rate on the website.

For reasons other than this I am refinancing to my main bank. They instructed me to call and ask for a authority to discharge form from ubank, the first guy I spoke to at ubank offered me the new customer rate then he got some people to call me the next day who also offered the new customer rate. I am continuing with my refinance anyway.

If you have a ubank home loan and you are not paying the rate advertised on the website, ring up and say you need a Loan Discharge form because you are refinancing. See what they offer you! Have a name of a new bank and the rate on hand, they will ask you who you are moving to. I suspect the people who called back the next day might be able to do something better than the guy I spoke to on the 13 number.

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Comments

  • hashtagbargain on 08/07/2015 - 21:24

    Thank you for this information!

  • Geewhizz on 09/07/2015 - 06:05

    If the rate you are paying is only slightly higher than that being offered to new customers, is it not possibly going to cost you more than it's worth to change?

    • No on 09/07/2015 - 12:09

      In my case the fees for the refinance total about $400 and I am refinancing for reasons other than the interest rate. But if someone is continuing with ubank its worth a try threatening to leave to get the lower rate. They don't actually have to refinance.

  • gwong on 10/09/2015 - 19:15

    Has anyone else had success with this? I just saw they have dropped it down to 3.99 now, which is 0.18 lower than what I am paying.

    • gordcorp on 18/09/2015 - 22:01
      +1

      Yep I called on Monday, was on 4.17% but have been put onto 3.99% now.

  • LoCure on 21/09/2015 - 11:03

    It differs if you occupied the place or rent, l called and was ask about this and they told me 3.99% is for new application only, l am told to get a call back to discuss further though, will see.

  • Mamaof3 on 21/09/2015 - 18:51

    There's a few 3.99% standard variable offers going around….one lender even offering 3.94% fixed for 2yrs. Otherwise if you're looking to refinance there's Bank of Melbourne/Bank SA offering $2K cashback for refinances….or NAB who's offering $1500 cashback for refinances….even Westpac has a cashback offer at the moment which pretty much means refinancing will cost you next to nothing.

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