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UBank UHomeLoan

UBank UHomeLoan

2.1 from 221 reviews · View Statistics

Reviews

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I'd give them ZERO, If zero stars was allowed

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
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A bit hard to contact but good rates

published

Could be hard to contact Ubank but got it sorted in the end. The interest rates are good. The website is easy to follow and the application process reasonably easy.

Customer Service
Timeliness
1 comment
UBank
Adi R.UBank

Thanks Rachel, we're happy to hear you're all sorted and we've passed on your feedback to improve the process for next time!

The reviewer stated that an incentive was offered for this review

Latte

LatteGreater Melbourne (Metropolitan), VIC

  • 7 reviews
  • 8 likes

So far so good

published

Approving the loan & paperwork takes a bit longer and a bit tedious process. However good customer service & friendly from UBank. Their mortgage manage by different organisation which makes transfer of money & any changes to homeloan takes longer but they do provide the cheapest interest rates so that I cannot complain. So overall I would say it’s so far been good & hopefully be the same in future. There I would recommend this product to everyone!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forFirst Home
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Home Loans

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Alexey Y.

Alexey Y.South East Queensland, QLD

  • 2 reviews

Great product and great bank

published

I have been with Ubank for several years. I am happy with their competitive home loan rates, with the quality of their support and with the website. I have not had any issues with them.
The support team is easy to get in touch with by making a call or by using a chat option on their website.
I have recommended Ubank home loan to my friends, and I plan to stay with them until the end of my mortgage.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateApril 2016
Loan used forFirst Home
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1 comment
UBank
Adi R.UBank

Thanks Alexey! We're really happy to hear you're having a great experience with UBank!

disappointed

disappointedSydney, NSW

Waste of time

published

Terrible process and poor customer service - very frustrating and a waste of time in the end. Worth choosing any other lender that knows how to process a home loan and replies to your phone calls and emails.

Transparency
Customer Service
Incentivised ReviewNo
SMA

SMASydney, NSW

  • 12 reviews
  • 7 likes

Think twice. Interest rate is good but you'll spend your time monitoring your accounts and chasing your money.

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeSplit
Loan Start DateJuly 2020
Loan used forRefinancing
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1 comment
UBank
Adi R.UBank

Simple mortgage product, but internet banking experience clunky

published
Transparency
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forRefinancing
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NiJi P.

NiJi P.Sydney, NSW

  • 2 reviews

It's been a month since I had the first phone call

published

The phone call went smoothly enough. The person who interviewed me was helpful and friendly. I sent in my ID documents the next day and was hoping to hear from her soon as I was told that there isn't any issues with my application. Then I didn't hear from her for two weeks. I emailed her but there was no reply. I emailed her one week later and I got an email apology saying that she was on leave and hadn't lodge my application yet! It's been over a month since the phone call. Now that I've read other reviews on this site, I see that there are many others who had the same issue.

Incentivised ReviewNo
1 comment
UBank
Adi R.UBank

Hi Niji P, we're very sorry to hear of this delay. Could you please private message your full name and application number so I can escalate this to a member of the team who can look into your application immediately? Thank you, Nicky

Stay away

published

Completely waste of time. We tried to refinance with them and it took them more than a month to conclude that we are not eligible. They could have told us to start with.

In terms of documents, it went back and forth for 5 rounds for them to say exactly what they need. The guidance on their website is more like a decoration.

Living expense is calculated without clarity. Case manager is very unresponsive and unprofessional and refuses to take calls.

The low rate comes with all pain!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeSplit
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1 comment
UBank
Adi R.UBank
Home Loans

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Steve H

Steve H

  • 2 reviews

Worst customer service- don't bother

published

Don't bother with these guys they clearly aren't interested. We filled in the online home loan form and scheduled a call to discuss the application. They didn't call at the appointed time and we had to use the online chat to communicate. The customer service was extremely poor on the chat, even initially indicating that we were mistaken in believing we had a call arranged for that time. Eventually after an hour on chat we were offered a call the next day with a notional apology.

The next day: no call at the appointed time. Not too sure what they are playing at but don't waste your time on an unprofessional company who would do well to do a basic course on customer service and frankly general common etiquette.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
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1 comment
UBank
Adi R.UBank

Hi Steve, we're very sorry to hear you've had this experience. Would you mind private messaging your full name so we can look into this further? This is definitely not the customer service we pride ourselves on.

Blake W.

Blake W.Greater Melbourne (Metropolitan), VIC

Perfect process

published

I recently got a new investment loan and UBank did a great job meeting my timeframes including the subject to finance date. The case manager was always available and guided me through the process. As long as you’re quick at getting your documentation ready, the UBank team are quick at getting the loan approved and contract generated.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forInvestment Property
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1 comment
UBank
Adi R.UBank

Thanks for taking the time to review us, Blake!

Good overall experience refinancing

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forRefinancing
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1 comment
UBank
Adi R.UBank

Thank you for your review, Shane! We've noted your feedback on the app and are always looking for ways to improve our customer experience.

Travis W.

Travis W.

  • 2 reviews

Don't bother wasting your time

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
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Loan Process A Total Farce

published

Antiquated ID verification. The loan assessment part is not just extremely lengthy and uncertain, it’s more like psychological torture. I think they have a small money pool, hence the strict criteria. Stay away from UBank if you want keep your sanity or after loan approval.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
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Terrible Customer Service - Borderline Threatening

published

I just had the worst customer service experience with UBank. Whilst going through the application over the phone, the home loan 'specialist' was very rude and tried to intimidate me into not submitting my application. I tried to explain my situation, but she cut me off and made snark comments. I'll take this as a sign to avoid such a dodgy and incapable loan provider.

Customer Service
Application Process
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
Home Loans

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Dmytry

DmytryGreater Melbourne (Outer), VIC

  • 6 reviews
  • 2 likes

Very happy with Ubank

published
Transparency
Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
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Nyssa

NyssaGreater Melbourne (Outer), VIC

  • 3 reviews
  • 1 like
  • Verified customer

Waste of time for a home loan

published

Applying for an investment loan. Applied on Feb 5th and its now Feb 26th- Still have not had a response on if they'll even give me the loan or not. Apparently it is in 'queue' and will take 5-7 business days. Even though I told them I need to know by March 2nd. Looks like I'll be taking my business elsewhere.
Additional information- I asked if the house valuation was done or scheduled as I hadn't heard anything back. Was informed that yes it was done and I'll get an email that afternoon to confirm.... 2 days later I sent another email asking for an update as I did not get the email they said they would send.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
See all answers
MelJ8

MelJ8

  • 3 reviews

Competitive interest rate and no fees

published

I’ve had a UHomeLoan for about a year now and am stoked that in that time UBank have passed on the full RBA interest cuts to customers (albeit with some delay). There’s also no fees. These factors make my home loan pretty stress free so I’m very happy with UBank and would highly recommend to others.
There was some delay getting the home loan approval in the first place, which caused some stress early on. After approval, I haven’t needed to contact UBank for any reason so haven’t really put their customer service to the test, but I’m happy not to have to.
The app is shockingly bad though for an online bank. It useable, but only just. To do anything other than see your current balance you need to leave the app and log in to the webpage.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
Kunal

KunalPerth, WA

  • 5 reviews
  • 2 likes

5 times contacted over a period of 1 month. No call back. Useless

published

No call back from anyone from Ubank after one initial call for home loan.
Never sent any correspondence. Never answered questions and terrible customer service.
I called 2 times and spoke to [Name Removed] from Ubank and he was very apologetic and good to talk to and assured Lisa will call back. No call backs after a month.
I am not going to contact you guys anymore.

You aren't professional.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
Stephen A.

Stephen A.Canberra 2600, ACT

Could not find an more incompetent bank.

published

We have been waiting to top up our mortgage for two months now and still do not have the money.
This has been the most agonising and frustrating process and full of incompetence, bad systems, bad service, appalling communication and a complete lack of any sense that their customer is important to them.
Coupled with the incompetence of MSA National, Ubanks 'settlement partner' we have finally given up having zero faith in this bank or their product.
What you save in low interest rates, you pay for in time and effort.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan used forRefinancing
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Questions & Answers

Bear

Bearasked

I got a contract from them saying that I had to pay their solicitors fees for attending settlement. Same if I leave them. They did not give a value for this fee. Did anyone else have this clause in their contract? If so how much did it cost? It seems they lie in their advertisement because they said no settlement or discharge fees but here we are. I don't want to sign a document that has an undisclosed fee associated with it. Does anyone have experience with this?

2 answers
hsk8787
hsk8787

I cant recall as mine was done 3 years ago, but thst doenst sound right. How can they not know what the solicitor fees will be? I’ve had issues with ubanks inconsistency in what they say and i’ve moved my business because i got fed up with it.

Jake Elwood
Jake Elwood

Was the solicitors fees situation clarified?

Curious Customer

Curious Customerasked

I'm wondering if anyone, who has had a bad experience with Ubank, has taken their complaint to the Banking Ombudsman?

I was considering refinancing with Ubank but then read all the negative reviews on this page. I'm doing my research as to who to refinance with and the above reviews are mostly negative - so it leaves me feeling less than confident that moving to Ubank would be a good idea.

4 answers
TrevorPetrie
TrevorPetrie

In our case, we were already moving to another institution anyway because we wanted to be able to visit a branch. We had no problems before we tried to leave and didn't see much value in pursuing the matter further, it only would have cause us further unnecessary stress. If we were currently looking to refinance to a similar product, we'd definitely be looking for a bank or similar with at least a handful of branches.

productfind
productfind

That was going to be my next step if U Bank did not sort out the problems in time, I found out the the mix up was mainly to do with Advantage who are the lenders; as it has all been sorted I have no need to report to the Banking Ombudsman, but there is clearly an issue with "time" and documents not turning up, I think if anyone has had issues that were not resolved they should report it.

Brendan
Brendan

good question curious customer - we are encountering extraordinary obfuscation in an otherwise simple re-finance (with about 80% equity) - CBA have come close to matching their best price & I'm not proud to say it but I'm keeping the process bubbling along for a bit of sport to see how **cked they are !!

Dave

Daveasked

Why my variable Uhomeloan rate increased to 4.51% when current variable rate is only 3.99% ? (16/09/15)

1 answer
TAK
TAK

I saw they are offering a discount on their regular rate taking rate to as low as 3.99%. May be you have got the loan settled before the discount offer was in effect. Normally new offers don't apply to previously settled loans. Or may you can call them and negotiate?

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