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$4,000-$6,000 Refinance and Purchase Rebates (Min Loan $250,000 & LVR <= 80%) @ UBank

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Hi OzBargainers,

I hope everyone is keeping well!

UBank (NAB) have just advised us of a new PURCHASE & REFINANCE rebate effective tomorrow (09 November 2022).

UBank will be increasing their cashback amount for both Purchases and Refinances up to 80% LVR. See cashback breakdown below:

  • $250,000 / $1,000,000 = $4,000
  • $1,000,000+ = $6,000

Current Variable Rates:

Owner Occupied:
  • P&I Variable 60% LVR - 4.49% (Comp Rate: 4.56%)
  • P&I Variable 70% LVR - 4.54% (Comp Rate: 4.61%)
  • P&I Variable 80% LVR - 4.54% (Comp Rate: 4.61%)
Investment:
  • P&I Variable 60% LVR - 4.79% (Comp Rate: 4.86%)
  • P&I Variable 70% LVR - 4.84% (Comp Rate: 4.86%)
  • P&I Variable 80% LVR - 4.84% (Comp Rate: 4.91%)

Rebate offer is available on:

  • Owner Occupier and Residential Investment Home Loans
  • Principal & Interest and Interest Only Repayments
  • Own Home Loan (With Offset) and Neat Home Loan (Without Offset)

If you find the rates listed above are not competitive to elsewhere, UBank will consider pricing matching for the right deals.

If you would like an estimate of applicable rates please feel free to call/text/email the following information:
O,O or INV
P&I or IO
Loan Amount
Security Value

Further to UBanks offer I can confirm I would be happy to offer you a broker rebate based on the metrics below: (Rebates will be calculated on funds net of offset)

$500,000 - $750,000 = $500
$750,000+ = $1,000

Please feel free to email me at [email protected] or text/call me on 0422 699 383 and I would be happy to answer all finance related questions. We do work with a panel of over 40 lenders and will be able to find a home loan tailored to you.

Kind Regards,
Nicholas O’Sullivan
ACL: 389328
Azura Financial

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closed Comments

  • +2

    are rated above including 0.25% 1.11.22 rate increase?

    • They sure are jjj123!

      Worth noting UBank didn't pass on the full 0.25% either!

  • Is OO 60% LVR @ 4.49% with offset?

    • Hi Marty, if you would like an offset the rate would be 4.54%!

      • +2

        What is the cost of the offset? Annual package fee or monthly fee? Or just a higher rate?

        • HI El-Rhi,

          Package fee is $250pa. Happy to look at getting you a first years annual fee waiver though!

  • -1

    Loan advance fee $250.

    $4k cashback does sound pretty good despite the terrible internet banking UI.

    • +2

      Hi 1jwoz,

      Have you seen their systems since the merger with 86 400 happened?

      I think the platforms are great!

      • -2

        Yes, just logged in now and tried to transfer to another one of my accounts, didn't even have the option for osko. Will probably refinance to take their $4k and move on elsewhere.

        • +2

          Not sure what you are talking about, all transfers under 86400 has always been processed through Osko, unless the other bank doesn't participate in Osko

        • Yes, transfers are via Osko. Have done 2 in the last 2 days from my accounts on the old UBank platform to the new ubank (86 400) platform (just refinanced from another lender).

  • +2

    I remortgaged twice with Nick in the last 2 years. Super customer service, highly recommended.

    • +1

      Thanks so much Fozzie!

    • +1

      +1 about Nick - helped me with re-financing one of my investment property. He is genuinely willing to help.
      Nick, I might send you an email around Jan to re-finance my owner occupying.

  • Can you match freedomlend.com.au 4.15%?

    • Hi Thydzik,

      Please note, the 4.15% at Freedom Lend is exclusive of the last 2 rate hikes.

      • How can you tell?

  • Sorry NIck,
    Would you be will to entertain an IO loan of $250k and what would the rates be?

    • Hi GuniGuGu,

      For an Owner Occupied IO loan the rate would be 5.09%.

      • Morning @Gunigugu,

        If you would like to look at other lenders I'd be happy to go through this with you anytime!

  • rates are bad

    • What better offers have you seen?

      PS: would be good to confirm if this post latest interest rate hike

      • Confirming this is post November rate hike.

        Worth noting UBank have only passed on 15-20bps instead of the full .25% as well.

        Can't imagine anyone finding a much better deal that this considering the size of the rebates!

      • im at 4.09% with easystreet.

        even with the rebate and 1.2m loan would be paying more in no time gotto do your calculations

        • +1

          Hi Stahh,

          I've actually just spoken to EasyStreet and they have advised their rate is currently sitting at 4.34% (effective last week) as per the October rate hike. This will be increasing a further .25% in early December due to the RBA's decision to increase rates once again in November. This will take your new variable rate to 4.59%.

          Refinancing to UBank will definitely be of benefit in this instance as you'll walk out with $4-6,000 and a more competitive interest rate!

          Free to chat anytime today.

          • @Nick-AzuraFinancial: so with all the rate increases UBank will be less then 4.59 or has that gone up too? ill consider changing if rate is better and fees are waived.

            • @Stahh: Hi Stahh,

              Will be able to confirm rates and fee waiver eligibility if you could please send me an email with the below:

              • Owner Occupied/Investment
              • P&I/IO
              • Loan Amount:
              • Security Value
              • Require an offset?

              Can also confirm the rate of 4.59% is inclusive of the November rate hike!

          • @Nick-AzuraFinancial: just received letter our rate is 4.340 effective 17th Nov

  • Hi Nick - what’s the application deadline and settlement date requirements?

    • Hi LittleTicket,

      Application has to be lodged by 23 Feb and settled by 30 April

      • Tempering but loan is fixed until Feb mid. Probably will need to engage you in early Feb.

          • was supposed to say "Tempting"
          • @Ash-Say: Morning Ash,

            Loan contracts are valid for a period of 90 days.

            If you'd like to look at getting the ball rolling sooner than later we can advise UBank that we'd like to settle this in Mid Feb once your fixed rate expires!

  • What is the rate for 80% LVR with offset?

    • Hi Sandy, is this for an owner occupied property or investment?

  • How long are application timelines at the moment?

    • Hi Dasher, assessment times are sitting at 4 hours currently.

      I submitted an application on Friday last week and received formal approval and loan contracts on the Monday.

      Assessment times may blow out due to the industry leading rebate so I'd recommend getting an application in ASAP

  • When does ubank have offset?

    • Hi helnandez,

      Confirming UBank most certainly does have an offset!

    • Since after merger with 86:400 bank

  • Hi @Nick-AzuraFinancial, do you know if ubank still allow redraw facility like credit line where customer can lower the repayment to minimum when ahead of payments? Thanks

    • Any update for me? @Nick-AzuraFinancial

      • Hi Spedohero,

        I can confirm UBank most definitely have a redraw facility on both the Neat and Own Home product!

        Happy to discuss this over the course of the day if you have a couple of minutes?

  • Assuming they are excluding refinancing from NAB?

    • Hi EdgeCrusher,

      Yes that is correct however ANZ & STG/BOM/BankSA are all offering $4,000 rebates if this is of interest?

  • How many times would a refinance (within a year) is deemed reasonable by a bank? and probably not a flight risk.

    • +1

      Hi Chinawa111,

      I personally wouldn't recommend refinancing more than twice in a calendar year.

      • Hi Nick, why is that? Cheers

        • -1

          Morning Padawan,

          This is because it can have an impact on your credit score.

  • Hi, I am with Westpac for only two months. I got basic variable rate. Is it better to refinance with UBank? Thanks

  • Hi Zozuc,

    What is your current basic variable rate at Westpac?

    • Hi, currently it is 4.24%.

      • Hi Zozuc,

        Would definitely look at refinancing as Westpac are yet to increase rates after the September rate hike.

        The interest rate won't be significantly different however you will be 4-6000 off from then day of settlement.

        • Just check, it is 4.34% with no offset. Any risky to refinance after only 2 months with Wespac? If not, I will send my documents you shortly you have a look. Thanks

  • I am checking its website, so the fee cannot be waived?

    Loan advance fee —$250 — is this like settlement fee?

    • +1

      Hi Baron,

      I can definitely look at having this waived for you!

      • Please waive for me as well. Will try to send documents this week. Thanks

  • Absolutely Zozuc! Look forward to hearing from you soon!

    EDIT This can be subject to strength of application so please get in touch and I'll see what I can do

    • Hi Nick, I sent all documents yesterday. When you have time, please have a look and let me know if you need more details. Thanks

  • Hi Nick, when would the broker rebate be paid out? Also, what sort of setup and ongoing fees are there for a Owner Occupied loan with an LVR of less than 80%? Thanks
    Edit: Scratch that, I am with Citi so I wouldn't get the cashback anyway. Cheers

    • Hi Padawan,

      If I were you, I'd be looking at moving your lending over to St George/BOM/Bank SA.

      This group of lenders are offering $4,000 cashback for all lending over $250,000 as well.

      I'd be more than happy to honour the broker rebate I've advertised here as well. This would be paid out once we are paid our commission from the lender. This tends to happen about a month post settlement

  • Might shoot you an email - paying 5.7%~ at Adelaide Bank and it's killing me… Would appreciate some assistance

    • +1

      Hi Lach,

      Look forward to hearing from you soon!

  • +2

    @Nick-AzuraFinancial for the O/O variable (P&I) with offset (4.54% up to LVR 60%) the fees are as follows:

    Loan advance fee - $250
    Annual fee - $250 per year

    Are you able to get these waived?

    • +2

      I'd be interested in this too. Also, is this an introductory rate?

      Lendi are recommending Westpac for me, but their competitive rate is introductory only (rises 0.40% after 2 years). Thanks

      • Hi @Nick, I would like to know about this too. Thanks in advance.

        • Hi Grazer and David!

          Confirming this is not an intro variable rate!

    • Can definitely look at getting the loan advance fee waived.

      If you'd like a first years annual fee waiver this would also be easy enough to organise!

  • How long do they process applications?

    • +1

      I sent documents last week. Nick and team still check application. Hopefully, I can get outcome next week.

  • +2

    Pretty straight forward process, I applied directly with ubank and it was approved in 5 business days. The data scraping was new to me but made the whole process very simple and I changed all my passwords after it had completed all of its checks.

    This is my 3rd refinance with $4k cashback each time and will be number 4 when I do another refinance in the new year.

  • How long does it take to get paid?

    • +1

      Says they'll pay 14 business days after settlement

  • +1

    Are there any existing ubank customers here who can comment on how their interest rates have gone up over the last couple of months?

    the trend I'm seeing is that most banks offer lesser interest rates for new customers, however, they seem to raise the rate for the existing customers at the same rate as the cash rate increase.

  • Looks like rates have increased on the ubank website?

    • Still coming up as 4.45/4.54 for me?

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