Refinance with UHomeLoan and you could save $1,000 interest in the first year, or we'll give you $1,000.
Offer open to customers who apply to refinance a variable rate home loan with a UBank variable
rate UHomeLoan between 29 May 2013 and 30 June 2013, provided that your refinance application is approved and settled in accordance with the loan contract.
See Terms and Conditions for more information.
Referrer and referee each receive $10 after referee makes 5 settled card purchases within 30 days.
No deal, no bargain.
Spam
Should be moved to newspaper or TV.
I've requested a mod have this deal moved to newspaper
Agreed
they lost my business when they dropped their usaver rates below the other banks. ubank used to be really competitive.
They still are for home loans.
They gave me $500 for my business, and I didn't have to loan a min of $300,000.
They give deeper upfront so called 'loyalty' home loan rate discount to new customers. The existing home loan customers are left at higher rates with lower 'loyalty' discount.
This makes this deal even more attractive.
Really? The rate I get matches the one front page 4.87%. Is there another discount on top of this that new customer's get?
the 4.87% includes loyalty discount of 0.25% which only applies to new customers. if you had refinanced before e.g. a few months ago, you might have received only a 0.10% loyalty discount, which will mean you are currently paying 5.02%. depending on what the promotion was when you first signed up for refinancing with ubank, you could be paying a very different rate now. i could be wrong, but this is what i gather. others (incld. the rep) could correct me if i'm wrong
Yes, the 'loyalty' discount depends on when you signed up. I have the 0.20% discount, which means I currently paying 4.92%. There seem to be at least 3 different variable rates with 3 different 'loyalty' discounts. This 'loyalty' discount remains the same for the entire life of a loan.
note, ubank are fussy with their requirements for inner city places for ratio's
Who cares for me, the interest saving is only $600 pa and I will get the $1,000 gift card - well worth it for me!
Also
There is a maximum of
300
gift cards available. If more than
300
customers are eligible to receive a
gift card, gift cards will be awarded to
the first
300
eligible customers based on date of application.
an important point buried deep in the fine print.
This offer is based on estimated projected savings. UBank will not calculate the actual savings at
the end of the 12 month period, and will not consider any claims made in relation to this offer should
the actual savings be less than $1,000.
So this is just using estimated figures based on their formulas, there is no guarantee you'll save $1000 in interest. And if you do end up saving less than $1000 after 12 months, tough luck, you won't get your $1000 gift card because it's too late.
have you factored the fees & charges for this as well?
it could end costing you more to shoot for the $1000
Hi bonky, there are no fees and charges for a UBank variable rate UHomeLoan.
Hi pmupsinep,We'll make the savings calculation during the application and on settlement, you'll receive the $1,000 gift card within 30 days of settlement, not at the end of the 12 month period.
That's exactly what I'm saying Emma, you make your calculation based on some unknown formula that the customer will save $1000 in interest, and if your calculation ends up being wrong and they haven't saved $1000 after the 12 months then they do not get the $1000 bonus as you have advertised.
.
The biggest risk is not getting the $1,000 if the savings is less than $1,000 once it reaches the first 300 application. too much uncertainty. Not worth it
This are no mobile apps and site available although they have been piloting them for a year now. Many customers has requested for them. Beware of the uHomeLoan redraw facility which is very restricted.
What's the restriction with regard to redraw?
This is a bargain to me. I wish I could have this deal at the time.