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Home loans
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When you have a UHomeLoan you have flexibility
‘My UHomeLoan’ is the online banking tool for managing your UBank home loan.
To access the system, you’ll need your Login ID (included in the Welcome Pack sent to you after your loan settled) and the password you chose when you activated your StarNet account. Then, simply log in to Online banking and click on the ‘Manage UHomeLoan’ button.
If you lose or forget your Login ID call us on 13 30 80. If you lose or forget your password, you can reset it on the login page.
You’ll be able to:
- View your account details
- Check your balance and interest rate
- Change your repayment frequency and amount
- Make a one-off payment in addition to your regular repayments
- View recent transactions and download statements
- Redraw funds, if available
- Get BPAY® and loan account details to transfer money into your home loan
- Transfer money between loan splits, if they are for the same property
- Change your PIN
You’ll need to complete a form if you’d like to:
- Increase (‘top up’) your loan, extend your interest only term, or convert to interest only repayments. Simply download and complete this form and email it to loanvariations@ubank.com.au
- Change the property that your loan is secured on (security substitution). Simply download and complete this form and email it to loanvariations@ubank.com.au
- Change the direct debit bank account for your home loan repayments. Simply download and complete this form and email it to advantedge.customercare@advantedge.com.au
- Remove a borrower. Simply download and complete this form and email it to loanvariations@ubank.com.au
- Change all, or part of, your loan from variable to fixed. Simply download and complete this form and email it to servicing.ubank@ubank.com.au
You’ll need to call us on 13 30 80 to:
- Change your repayment date
- Recalculate your minimum repayments
- Transfer $20K or more from another UBank account held in your name
- Decrease your loan facility
- Request a pay-out figure
- Change your address (note: both borrowers on a joint loan are required to call)
- Request a new PIN
Managing your repayments
How to repay your UHomeLoan
Making repayments
The easiest way to manage your loan repayments is by direct debit from a linked account. That way, payments happen automatically and on time.
You would have nominated an account to link to your UHomeLoan when completing the loan contract, so this will be set up for you automatically in My UHomeLoan. The hard work is done!
There are a range of other repayment options to choose from if this method doesn’t suit you, but we’ll still need you to have a direct debit set up should your circumstances change.
Direct credit / electronic funds transfer (EFT)
When you open your account we’ll give you your BSB and Account Number.
You can then transfer funds from your chosen bank account to your UHomeLoan. Please check with your bank first as restrictions may apply.
How to change the Direct Debit account linked to your UHomeLoan
Simply complete the Direct Debit Request form and return it to us. Too easy!
Be sure to nominate a bank account that allows direct debits.
BPAY®
Transfer funds electronically using the BPAY® Biller Code and Reference Number specific to your UHomeLoan. You can find this enclosed in your Welcome pack and online in My UHomeLoan.
Salary credit
You can make repayments by having your salary credited to your UHomeLoan.
Provide your UHomeLoan BSB and account number to your employer and make sure your salary goes into the account at least two business days before your repayment is due.
If you’d like your salary to offset your repayments on your variable loan, please give us a call on 13 30 80.
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Change your loan repayments
If you are making principal and interest repayments on your variable or fixed1 UHomeLoan, changing the frequency and amount of your ongoing repayments is quick and easy.
Log in to My UHomeLoan > Payments > Ongoing payments > Edit ongoing payment
Select the frequency of payments and your existing or new repayment value – that’s it, you’re done.
The change will take effect after the next scheduled payment.
If you wish to change the payment date, you will need to call us on 13 30 80 and we’ll get it sorted.
If you are making interest only repayments on a variable or fixed UHomeLoan, you can only make monthly payments.
1 Break costs may apply if you repay all, or any part, of your fixed UHomeLoan early.
Increase your regular repayment
Paying more than the minimum repayment is a smart way to get on top of your home loan – you could save interest and reduce the life of your loan. You can easily increase the amount of your repayments at any time if you have a variable rate UHomeLoan.
Simply call us on 13 30 80 and we’ll arrange this for you.
If you have a fixed rate UHomeLoan, you may be able to increase your repayments but you could incur break costs. Please call us if you would like to discuss your options.
Make an extra repayment
If you’ve made additional repayments on your variable rate UHomeLoan, you may have available credit that you can redraw funds from at any time, with no fees. However, note that your accumulated redraw amount available will reduce over the life of your loan to enable your loan to be repaid by the contracted final repayment date.
Redraw online by logging in to My UHomeLoan. Go to Payments > Redraw.
If you have a variable rate UHomeLoan, you can make additional repayments of any amount at any time. It may help you pay off your loan sooner.
Important: if you have elected to make regular minimum repayments only and you then make additional payment(s), your minimum repayments will decrease and your contracted final repayment date will stay the same.
If you’ve chosen a fixed1 rate UHomeLoann, and your loan was formally approved on or after 28 September 2013, you can make up to $20,000 in additional repayments during the fixed term without incurring break costs. (Any more than this, and break costs may apply – call us on 13 30 80 to find out more.)
How to make an extra payment
- Arrange a direct debit from your nominated account directly to your loan account. Log in to My UHomeLoan > Payments > ‘One off payments’
- Direct credit / EFT from your chosen bank account to your UHomeLoan
- BPAY® using your Biller Code and Reference Number
Keep in mind, your next home loan repayment will continue to be debited as scheduled unless you have selected to offset your repayment. In addition, you do have the option to re-calculate your repayments to a minimum – call us on 13 30 80 for more details on these repayment options.
1 Break costs may apply if you repay all, or any part, of your loan early.
How to redraw
If you’ve made additional repayments on your variable rate UHomeLoan, you may have available credit that you can redraw funds from at any time, with no fees.
Redraw online by logging in to My UHomeLoan. Go to Payments > Redraw
Making changes to your UHomeLoan
We make it easy to make changes to your home loan post settlement.
If you make changes to your loan during a fixed rate period, break costs may be payable, so think carefully.
How to vary loan type and/or repayment options
If you have a variable rate loan and wish to
- change all, or part of, your loan from variable to fixed complete the Fixed rate conversion authority (variable to fixed) form
- change your repayment type to principal and interest, reduce your interest only term, split or consolidate splits, simply fill out the Change authority for a variable rate UHomeLoan form
If you have a fixed rate UHomeLoan1 and wish to change all, or some, of your loan from fixed to variable, or make a one-off payment to your fixed rate loan, simply call us on 13 30 80 to request for the indicative fixed rate break costs.
1 Break costs may apply if you repay all, or any part, of your loan early or if you “break” your fixed rate by changing all or part of your fixed rate loan to a variable or different fixed rate.
Top up your loan
Whether you’re improving your home, buying a new car or planning a family holiday … you may be able to increase the size of your existing UHomeLoan to finance it.
The minimum loan increase amount is $20,000, subject to credit approval.
To request a top up, simply fill out the Loan Variation form.
Nominate a different person to receive loan correspondence
Fill in this Nomination form to designate one person to receive correspondence, such as 6-monthly loan statements, on behalf of any other borrower.
FAQs
Have any questions?
Where can I see my UHomeLoan interest rate?
- Log on to Online banking
- Go to 'Manage UHomeLoan'
- Enter your login ID & password
- Select the relevant home loan account and your rate will be displayed on the screen
Can I make one-off repayments on top of my regular repayments?
If you have a variable rate UHomeLoan, you can make additional repayments of any amount at any time.
If you've chosen a fixed rate UHomeLoan, and your loan was formally approved on or after 28 September 2013, you can make up to $20,000 in additional repayments during the fixed term without incurring break costs. (Any more than this, and break costs may apply - call us on 13 30 80 to find out more.)
How to make an extra payment:
- Arrange a direct debit from your nominated account directly to your loan account. Log in to My UHomeLoan > Payments > 'One off payments'
- Direct credit / EFT from your chosen bank account to your UHomeLoan
- BPAY® using your Biller Code and Reference Number
Keep in mind, your next home loan repayment will continue to be debited as scheduled unless you have selected to offset your repayment. You do have the option to re-calculate your repayments to a minimum - call us on 13 30 80.
How do I redraw from my UHomeLoan?
If you have a variable rate UHomeLoan with available credit, you can redraw funds at any time, with no fees by logging in to My UHomeLoan. Once you've logged in, go to Payments > Redraw.
If you request a redraw through My UHomeLoan by 11am EST, the funds will be transferred to your nominated account within 3 business days.
How do I change the loan type or repayment options for my fixed and/or variable UHomeLoan?
Simply click on one of the forms below and ensure it's completed and signed by all borrowers.
1. Loan increase & interest only form
Complete this form to change your repayment type to interest only or extend your interest only term.
2. Variable to fixed rate change request form (changing a variable rate loan to a fixed rate loan)
Complete this form to:
- Change an entirely variable rate loan to a fixed rate loan
- Change a variable rate loan into fixed and variable splits
- Note: The repayment options are principal and interest and/or interest only over 1, 3 and 5 year terms. If you’re converting your loan to fixed rate interest only, you’ll also need to complete the Loan Variation form and a full credit assessment will be required.
3. Variable home loan – repayment & loan split changes request form
Complete this form to make changes to your variable rate loan including:
- Change your repayment type from interest only to principal and interest
- Reduce your interest only term
- Split or consolidate splits
If you need to break your UHomeLoan fixed term please call us on 13 30 80 and we'll guide you through the process.
How do I change my direct debit account for my home loan?
Simply download, print, complete and sign the Direct Debit Request form. Scan and email to advantedge.customercare@advantedge.com.au. This will be received by our team at Advantedge to process.
Please note:
- On the form, please choose either your ubank Spend or Bills account, or another bank account that allows Direct Debits. You can’t set up a Direct Debit from most online savings accounts, including ubank Save accounts. Please check with your financial institution.
- Our team at Advantedge will contact you via email if there are any problems and send you a confirmation email once your request has been completed, usually within 2 business days.
- If you have a split loan and want to change the direct debit account on more than one split, you’ll need to complete a separate form for each split.
- If you have any questions about this form, please contact Advantedge on 1300 300 989 (8.00am – 7.30pm Monday to Friday, Sydney time).
Can I manage multiple Loans under the same My UHomeLoan profile?
Unfortunately not, each loan has a unique My UHomeLoan profile and password.
To log in select My UHomeLoan from your Online Banking and enter your unique Login ID and password.
If you've forgotten your password, you can reset it on the login page.
Let's pass the mic to our lawyer
See UHomeLoan terms & conditions and UHomeLoan credit guide
UHomeLoan info: Credit is provided by AFSH Nominees Pty Ltd Australian Credit Licence 391192. UBank is the mortgage manager for UHomeLoan products. Govt charges may apply.
1The comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Target Market Determinations for these products are available at ubank.com.au/tmd. Are you experiencing financial difficulty? See how we can help.
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