Finty

ubank Flex - Variable OO P&I

Variable rateOffsetRedraw

Offset up to 100% interest on your home loan with multiple ubank accounts and unlimited additional payments (owner occupied, principal and interest loan).

Written byDavid Boyd
Interest rate a year, from
6.34%
Comparison rate
6.58%
Upfront fees
$250
Annual fee
$250
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.34% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,729
Total repayments
$1,342,618
Interest
$742,618

Rates

Every rate ubank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 60%6.34%6.58%
VariableLive inPrincipal and interest60% to 70%6.34%6.58%
VariableLive inPrincipal and interest70% to 80%6.39%6.63%
VariableLive inPrincipal and interest80% to 85%6.94%7.17%
VariableLive inPrincipal and interest85% to 90%7.24%7.47%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$250
Annual fee
$250
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
90%
Loan amount
From $80,000 up to $5,000,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.39%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.63%

For the same rate. Typical is 6.70%.

Upfront fees

$250

Typical upfront fees are $600.

Annual fee

$250

A typical annual fee is $350.

Smallest deposit

10%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.