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UBank UHomeLoan

UBank UHomeLoan

2.0 from 229 reviews · View Statistics
Listing monitored by UBank

Reviews

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John W.
John W.
  • 2 reviews

very painful application process

published
Customer Service
Application Process
UBank
Adi R.UBank
John W.
John W.
UBank
Adi R.UBank
Laura C.
Laura C.South East Queensland, QLD

Zero Stars - Appalling service

published
Transparency
Customer Service
UBank
Adi R.UBank
Laura C.
Laura C.
UBank
Adi R.UBank

I hear your frustration and wold like to help. I can have this escalated to ensure a manager gets back in touch. Please send me your details via private message and I'll organise this for you. ^Adi

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0.0
(1,234)
Vijaya
Vijaya
  • 2 reviews

Website fail!

published

The website fails after completing the application form and hit submit. You have to restart the application process again, and then to be presented with an website error when I hit submit button. The cycle repeats. Finally, I gave up. No one is available to talk on phone. No one will call you. They don't even capture a lead and follow up. Don't bother!

Incentivised Review No
UBank
Adi R.UBank

Hi Vijaya, thank you for letting us know and thank you for your patience. This definitely shouldn't have occurred. I'd like to have this looked into. Can you please send us a private message with your details and we'll assist you further. ^Adi

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Low rates and that’s about it.

published
Transparency
Customer Service
UBank
Adi R.UBank
Tony
TonyPerth, WA
  • 2 reviews

I wish there was a Zero star option

published

Rates looked attractive, so applied for refinance. Took them 1 MONTH for a phone appointment and they didn't call on the day. Got a call a few days later for a reschedule, they even didn't bother saying why they didn't call and no apologies. Apparantly staff are very demotivated and often incompetent. I made the mistake of progressing my application for a few weeks, but decided to stop. They are nonresponsive and act like robots. I think NAB has set Ubank up to show everyone what a low rate loan experience will look like. Welldone NAB, mission accomplished. And finally a message to the Ubank bot who is going to ask for my details to get in touch... don't bother.

Transparency
Customer Service
UBank
Adi R.UBank

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FirstHomeBuyer
FirstHomeBuyerGreater Melbourne (Inner), VIC
  • 2 reviews
  • 1 like

Zero stars - Horrendous service and incompetent staff

published

Home loan specialist was unbelievably incompetent and absent during what is obviously an urgent and stressful process for the customer. Hotline consultants were useless in providing further assistance and addressing formal complaints. Management was equally indifferent and non-responsive in dealing with the issue, so no wonder their staff are the absolute worst. Just proves the business has no accountability and does not value customers at all. Do not use this bank, unless you want to end up punching a wall. Never mind the low interest rate promise, everything else about them is a joke. Beyond pathetic.

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Customer Service
UBank
Adi R.UBank
FirstHomeBuyer
FirstHomeBuyer

No, UBank Bot, I have already provided my feedback to your peers several times and it was definitely not addressed accordingly.

DNB
DNBGreater Melbourne (Metropolitan), VIC
  • 5 reviews
  • 1 like

Ridiculous servicing and affordability assessment

published

Thought I might refinance a current investment loan. Had to wait weeks for an assessment call. That call and subsequent follow up were appalling. No real understanding of anything other than a straight forward situation, just fill in a spreadsheet and say NO. No capacity to explain the spreadsheet. Deducted 100% of household costs from my own income,....why when I have a highly remunerated partner who bears their share of costs ?? Complete waste of time. I know I can afford the loan many times over, I am not fooling myself as I am an accountant.. The review by a more senior person was just as woeful. I actually asked them whether they made any loans, but I guess they must. I would suggest you avoid UBank for a loan .

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Customer Service
UBank
Adi R.UBank
shwell
shwellGreater Melbourne (Inner), VIC
  • 5 reviews

Can't get any worse... oh yes it can

published

I lost my job so trying to reduce rates. Trying to update a phone number to an existing loan, filled in the form, waiting the 7 days required but no... wait.... there's more. The form wasn't the right one. No one can help. UBank is the worst of the worst of the worst.

Transparency
Customer Service
UBank
Adi R.UBank
shwell
shwell

Garbage, the front of house can NEVER help and the back of house are NEVER there.

shwell
shwell

And now... they have to validate that the certified copy was done by the local chemist! They NEVER tell you this up front, they always look for excuses to prolong EVERYTHING

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0.0
(1,234)
CBC
CBCSydney, NSW

Bad Response Times

published

Wanted to know my borrowing capacity and the earliest time I could book a call was a week later. On the day of the booking I waited for a call but nothing came through. I checked my emails only to find that they needed to reschedule my meeting another 2 weeks because they were all booked out. Don't wait.

Transparency
Customer Service
UBank
Adi R.UBank
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I'd give them ZERO, If zero stars was allowed

published
Transparency
Customer Service
Rachel L.
Rachel L.
  • 2 reviews
  • 1 like

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
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!

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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
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
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 Review No

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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
UBank
Adi R.UBank
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Read more reviews - page 2

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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