ubank Home Loan Lending Policy 2026

ubank home loans fund purchases and refinances of established Australian residential property for eligible individuals, including owner-occupiers and investors. As at October 2026, qualifying purchases with principal and interest repayments can reach 90% loan-to-value ratio (LVR), without lenders mortgage insurance (LMI). Refinances have lower limits, and the borrower’s income and property still need to pass ubank’s assessment.

Application and Borrower Fit

ubank accepts home loan applications directly and through accredited mortgage brokers, as at October 2026. Its current Neat and Flex products are issued by National Australia Bank Limited (NAB). The brand appears as Ubank on its current consumer website and as ubank on its broker pages.

The public eligibility criteria require applicants to live in Australia and be at least 18. Each must be an Australian or New Zealand citizen, or an Australian permanent resident. The page also requires a good credit rating and each borrower’s name on the property title.

The same page permits a sole applicant or two applicants who are spouses or de facto partners. They must live together or intend to share a household after settlement. It excludes applications with a parent or sibling and says ubank doesn’t lend to self-employed individuals.

For an unusual household or mixed employment arrangement, obtain the current broker-channel answer before relying on an exception. A historical UHomeLoan checklist or another NAB product’s policy cannot establish eligibility for a new Neat or Flex application.

Brokers obtain accreditation through their aggregator, complete ubank’s training and receive a broker ID for submissions. Start with ubank’s official broker page, which links to broker access. The ubank broker access guide explains the application-support routes.

Record whether the client is purchasing or refinancing and whether they’ll live in the property or rent it out. Also record the proposed repayment type. These choices determine which deposit or equity limit applies.

ubank has a home loan pre-approval application route for clients who are still looking for a property. Keep the approval’s conditions with the file. The eventual property and any changed financial circumstances still need assessment before the client can rely on a final loan offer.

Income, Deposit and Commitments

ubank verifies income and expenses through Smart Statements, with manual supporting documents required in some cases, as at October 2026. Its public borrower criteria accept permanent, casual or contract employment. The employment category alone doesn’t establish how much income ubank will accept.

Smart Statements retrieves a read-only copy of bank transactions to identify income received and money spent. Give the application an accurate employment history and separate regular salary from variable earnings. Explain a recent employer change or a break in work so the assessor can understand the payment history.

Keep current payslips available to explain salary credits and deductions. For casual or contract work, retain the employment contract and records showing continuity of earnings.

These are practical preparation steps. Use ubank’s application request for the exact documents and history period required for that client.

Avoid applying an old UHomeLoan payslip-age rule to the current application. ubank’s current refinance page says it can request a payslip or account statement to support the information supplied. It also requires identity verification and a home insurance certificate for settlement.

For an investment application, ubank asks for rental income and investment property expenses alongside the applicant’s other finances. Separate rent received from estimates for a property being purchased. Record expenses and existing liabilities even when rental income helps the client’s cash flow.

Deposit and Equity Limits

ubank’s minimum deposit and equity rules distinguish purchase from refinance.

Loan purpose and repayments	Minimum contribution or equity	Corresponding maximum LVR
Owner-occupied purchase, principal and interest	10% deposit	90%
Investment purchase, principal and interest	10% deposit	90%
Owner-occupied refinance, principal and interest	15% equity	85%
Investment refinance, principal and interest	20% equity	80%
Interest-only loan	20% deposit or equity	80%

ubank’s no-LMI page includes qualifying owner-occupied and investment purchases with principal and interest repayments. The purchase limit doesn’t make a 90% refinance eligible. Each application above 85% LVR is limited to $2,000,000, according to ubank’s maximum borrowing page.

Prepare a funds-to-complete calculation alongside the deposit. Trace savings to account records, identify any gift or sale proceeds and account for money already paid under the purchase contract. Add settlement costs so the same funds aren’t counted twice.

For example, a hypothetical $800,000 purchase with a $720,000 loan has a 90% LVR if ubank accepts an $800,000 property value. The $80,000 contribution covers the price difference. The client also needs funds for transaction costs, and income assessment must support the loan.

Record debts that remain after settlement separately from debts being repaid. Include credit card limits as well as balances, other loan repayments and investment property costs. If the proposed deposit includes borrowed money, disclose the borrowing and its repayment obligation in the assessment.

Property Rules and Unresolved Cases

ubank’s Neat and Flex target market determinations, dated 30 October 2025, require a first mortgage over established Australian residential property. Both identify construction purposes, vacant land and commercial property as outside their target markets. A completed-home purchase and a build funded through progress payments need different products.

These documents also exclude company or trust borrowers and guarantor loans from their target markets. Neat’s determination excludes proposals secured by multiple properties. Flex’s determination permits one or more security properties, subject to credit criteria.

For a specific property, send the full address and postcode with the property type and intended use. Include title details, land size and any unusual features, such as mixed residential and commercial use. Ask ubank to confirm security acceptance and the applicable LVR for that proposal before treating the general product limit as available.

LVR is the proposed loan divided by the property value ubank accepts. In the earlier hypothetical purchase, a $760,000 accepted valuation would make the $720,000 loan about 94.7% LVR. That exceeds the 90% purchase limit, even though the client has 10% of the contract price.

Use the lender policy guide to assess the next lender when the proposed security rules out ubank. Compare how property and purpose change maximum LVR for the client’s property and loan purpose.

Bulma’s Policy Advisor quotes lender policy wording that you can retain with the file notes. Its Scenario Planner helps compare suitable residential lenders when a property or borrower falls outside a lender’s standard policy.

For a case requiring clarification, email brokersupport@ubank.com.au through the current broker support route. Give the borrower facts and security details, then ask a precise question about the required exception or evidence. Retain the dated response, the facts supplied and any conditions before submitting the application.

ubank: Purchase-Before-Sale Options

ubank’s Neat and Flex target market determinations, dated 30 October 2025, describe standard purchase and refinance products without a separate bridging-loan product. A standard refinance approval doesn’t establish that ubank will fund the period before an existing home sells. Flex’s ability to take multiple securities also doesn’t establish a bridging facility.

A client buying before selling needs a funding decision for the period when both properties and their debts remain. If sale proceeds fund the deposit, establish when those proceeds become available. An expected future sale cannot supply cash for an earlier purchase settlement.

Send the linked transaction to ubank’s broker support team at brokersupport@ubank.com.au, or call 02 9058 7402. Ask which named product and funding structure can support the proposed settlement sequence. Request the assessment conditions for debts remaining during the overlap.

Include the existing property’s value and mortgage payout, the new purchase price and both settlement dates. State whether the old property is listed, under contract or settled. Provide the expected net sale proceeds after debt repayment and selling costs, plus the client’s available cash and ongoing income.

Show the debts before sale and the expected debt after proceeds are applied. Include how the client will meet repayments if the sale takes longer or achieves a lower price. Retain ubank’s written answer before making its standard purchase or refinance product the basis of a purchase-before-sale recommendation.