• When will the offset feature become available? (I was told soon, about 6 months ago) • Is there an app for banking? Is it as user friendly as the commbank app? • Is there an option of a debit card and can it be added to a digital wallet on a mobile?
Hey Lisa! To answer your questions: - Last year, we communicated an upcoming offset feature. We have decided not to proceed and apologise for any inconvenience. We encourage our customers to continue making use of our fee-free redraw to save on interest. - We have our own app on the Apple App store as well as the Google Play store on most Android-based devices. We think it's a pretty great app but, we might also be a little biased haha. - Currently, we don't offer a debit card facility, but it's a great idea! We will pass the feedback on to our teams for consideration when planning new features.
Is thr e discount of .01% on interest anually guaranteed? Does Unloan offer fixed rate?
Hi Alvin, Our annual discount is guaranteed. This discount is added on the annual anniversary date of your loan settling with us, however we only offer variable rate loans.
Hi lust looking at getting a loan for my son. I notice some people saying once they have settled the rate goes up and its not to do with the RBA. Whats happening here please?
Hey Allison! Our rates are variable and may change at any time, however when they do change they change for all customers and are generally in line with RBA adjustments. Hope this helps!
We are looking at refinancing our current loan to this company. Any hidden tricks and fees we need to know about? We need to move a 530k loan over. Have 200k of savings we'd like to keep in the redraw (might need them for starting a business so don't want to use them to pay down the house), and also need some money out for house renovation. So I'm thinking 650k loan (we have over 300k equity), 200k stays in redraw until further notice, and 120k stays in redraw and we take out bit by bit as needed for renovation. I can't seem to get a clear answer if this is doable and what repayments will be like and if any limitations or fees etc. Need to know every detail before getting into it. Anyone have suggestions or experience to share with this company and their rules? Thanks
Hi Tala, Unloan has no fees associated with refinancing your loan outside of the government lodgement fees. You can leave funds in your redraw balance to offset your interest and the only limitation is that you can only redraw a maximum of $100,000.00 per day. Feel free to reach out if you have any other questions.
Hi, When will you be introducing your top-up feature? This was one of the reasons we moved to Unloan.
Hi Kimberly, we are working hard on top ups however we do not have a fixed date for when this will be released.
What's a top up feature
If I choose to manually make a repayment with BSB and Acc# does the direct debit for that month not come out because it was covered?
Hi Alex, your Autopay will still attempt to debit from your bank account on the nominated date even if there is available redraw balance. If you do not want your Autopay to trigger for this month then you will need to disable it manually and re-enable it at a later date. Hope this helps!
How do you put extra money into the home loan
Hi Patrick. You can make manual payments to your loan using the BSB and Account Number located in the "Personal Details" section of your account.
which bank do they make payments to?
Hi there! Our customers make payments directly into their Unloan accounts. Thanks!
Hi! If Unloan is under CBA, could CBA current customer automatically choose/switch to digital only UNLOAN? without refinancing etc. application?
Hi Kseniya No it has its own application process customers have to complete
Hey Kseniya! It's as Ahmad said. You will need to apply to refinance your CBA home loan to Unloan using the standard application process.
Our interest rates are increasing by 0.35%. Why? Our rates are changing due to a number of factors including funding costs, increased capital costs associated with providing home loans and market conditions. Find out more about what goes into pricing a home loan. From 02 Jun 2023, the rate of the loan on your application will be 5.34% p.a, changing from 4.99% p.a. Has this occurred to anyone? Since their site still shows the 4.99?
Hi Ritesh, our rates increased for all of our customers by 0.35% p.a. on the 2nd of June. Our website is updated with the updated interest rates. Please reach out if you have any further questions.
Has anyone’s interest rate gone up once the settlement date is fixed without the RBA’s increase? It kinda feel bad advertising/marketing to lure the customer showing low interest rate then increase it once the settlement date is fixed, as the site still shows low interest rate!
Hi Ritesh, Our rate has increased based on the May RBA announcement. After this rate adjustment, we continue to offer one of the most competitive rates in the market. In addition, our loyalty discount means you'll receive an additional discount every year.
Hey Uloan! I read above that if both names are on the Roberts title both need to be on the loan. My question is if one name is on the title can you have 2 people on the loan?
Hey there! If there is only one name on the title we can have two people acting as co-borrowers. Upon the application process we only need to obtain consent from the co borrower that isn't on the title that they are happy to proceed. Hope this answers your question!
I would like to refinance and remove the co borrower in my current cba homeloan, is this possible?
Hi Tessa! If the land title is just in your name then we are more than happy to have you on board as a single borrower, however if the title is in both yours and the co-borrower's name then we would need for both of you to be listed as borrowers. Hope that answers your question!
We are looking to refinance and add additional funds for a pool installation can this be serviced by Unloan ?
I would say you have a high chance of getting extra finance for a pool. If your financial situation shows you can afford the repayments on getting extra, then you'll be successful in your application. Hope it all works out for you!
I expect so. For refinancing they allow additional funds to be borrowed, subject to LVR and ability to repay. I increased my loan to enable funding of renovations. The extra can stay in the offset meanwhile ready for if and when it is needed.
Hey Darren. Annalies and Bill are correct. When you start your application with us, you will have the option to add additional funds. Have a great day!
I am retired but have rental income and self managed super fund , am I good for to refinance. Cheers Trevor
Hey Trevor. Our eligibility criteria can be viewed here. external link
Can I apply for a New loan
Only refinancing at this stage.
Get an answer from our members and Unloan representatives
Extra Information
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.