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Home loans
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No LMI with up to 85% LVR
Got a 15% deposit? Say goodbye to LMI
Neat variable home loan from
6.09
%
p.a.
6.11
%
p.a.
Comparison rate1
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Avoid LMI at ubank
What is LMI and why won’t I pay it with ubank?
Lenders Mortgage Insurance (otherwise known as LMI) is a one-off insurance payment that is added to your loan based on the size of your deposit and how much you want to borrow. LMI is usually charged on loans with over 80% LVR, meaning you would need a deposit or equity that’s at least 20% of your property value to avoid paying LMI.
With ubank, you can apply for an owner occupied home loan repaying principal and interest (P&I) without paying LMI even if you have a deposit or equity as low as 15%.
Depending on the size of your loan, not having to pay LMI could save you thousands.
Interest rates with 85% LVR
Here’s all our interest rates for loans up to 85% LVR
Variable Principal and interest (P&I)
Neat variable
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Flex variable
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Fixed Principal and interest (P&I)
1 year
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2 year
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3 year
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5 year
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Ready to apply?
Compare our home loan options
Home loans, like homes, aren't one-size fits all
Redraw
Take back any additional payments at no extra cost
Additional payments
Pay back more than your minimum repayments for free
Split option
You can split your loan with a fixed rate and a variable rate
Offset account(s)
Reduce the amount of interest you pay each month with multiple offset accounts
Annual fee
To manage accounts and any changes across up to 5 Flex split loans
Flex variable
Pay off your loan faster with 100% interest offset on your linked ubank accounts
$250 p.a.
Compare all our interest rates and fees
FAQs
Have any questions?
What is Lenders Mortgage Insurance (LMI)?
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How much does LMI cost?
What home loans can I apply for if I have a 15% deposit or equity?
Let's pass the mic to our lawyer
Read our Home Loan Terms.
Credit criteria, fees and charges apply. Applicants must live in Australia and meet eligibility requirements.
Home loan information and interest rates are subject to change.
1Comparison rates are calculated on a loan amount of $150,000 for a term of 25 years. These rates are for secured lending only.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
For a personalised comparison rate that applies to your proposed loan, see the Key facts sheet.
Comparison rates for variable interest only loans are based on an initial 5 year interest only period. Comparison rates for fixed interest only loans are based on an initial interest only period equal in length to the fixed period. Interest rates are applicable at the time of loan approval and are based on the loan to value ratio (LVR). The LVR is the amount of the loan compared to the property value expressed as a percentage.
Apply with us today
Do it all from home with our simple digital loan application.
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