Broker guide
Unloan Refinance for Brokers 2026
Considering Unloan for a refinance? Understand the direct online channel, eligibility and document checks, then compare costs using the same loan term.
- Published
- Updated
Unloan refinance applications go directly through Unloan’s website, with online assessment for owner-occupied and investment loans. A broker can help a client assess the costs and fit, while the client completes Unloan’s application and verification.
Unloan Refinance and the Direct Channel
Unloan accepts refinance applications through its website, where the client starts the digital application. Unloan describes the product as website-only and direct-to-customer. CommBank ownership does not make it available through CommBank branches or call centres.
Your role is to assess the client’s needs and compare the proposed loan with suitable alternatives. Explain what changing lenders does to the remaining term, total costs and required features. The client supplies their information and completes the identity checks and loan signing with Unloan.
Unloan says its direct-to-customer model excludes broker commissions from its rates. Keep your advice and file records separate from the client’s application credentials.
Borrower and Property Eligibility
Unloan’s eligibility criteria cover the borrower’s finances and the property securing the refinance. Passing a loan-size or equity check alone does not establish approval.
Published Eligibility Checks
| Check | Unloan’s published requirement |
|---|---|
| Borrowers | At least 18, living in Australia, with an Australian mobile number. Apply alone or with one co-borrower. |
| Identity | A valid Australian driver’s licence or Australian passport. |
| Income and credit | Regular income paid in Australian dollars and sufficient to support repayments. A good credit history. |
| Loan size | $10,000 to $10 million, with $10 million total across Unloan loans. Borrowings above 80% loan-to-value ratio (LVR) cannot exceed $2 million. |
| Equity | Up to 90% LVR with upfront costs covered. Some property types or locations have a 70% limit. Higher rates apply above 80%. |
| Property and title | Residential property or land for owner occupation or investment. At most two title owners, all borrowers. Company or trust-held property is excluded, as are construction and off-the-plan loans. |
Unloan arranges the valuation used for its assessment. Its equity guidance says it cannot use a valuation the borrower obtained separately. Unloan must hold the first registered mortgage.
For a hypothetical $720,000 refinance, an $800,000 valuation produces 90% LVR. A $780,000 valuation produces about 92.3%, so the same debt exceeds the published maximum. The client would need to reduce the borrowing or consider another option.
A property-specific 70% cap also overrides the general 90% maximum. Assess the actual security and available cash before treating the headline limit as usable borrowing capacity.
Documents and Digital Assessment
The digital application still needs evidence of identity and income, plus an accurate account of the client’s debts and expenses. Prepare the current loan balance and repayment history alongside the property details. Unloan’s refinance document checklist also covers assets and liabilities such as credit cards and personal loans.
The checklist includes general examples of what lenders request. Use Unloan’s eligibility requirements for its specific document rules, then supply any additional evidence requested for the application.
Income Evidence by Employment Type
| Income type | Evidence to prepare |
|---|---|
| Pay as you go (PAYG) employment | Recent payslips dated within six weeks, or three months of bank statements showing permanent employment income. An employer letter can support commission or bonuses in some cases. |
| Casual, temporary or seasonal employment | At least six months of employment. Prepare payslips dated within six weeks or six months of bank statements showing the income. |
| Sole trader or partnership | Personal tax returns for the two most recent financial years and the latest Notice of Assessment. The business must show profit in both years. |
| Company income | The two most recent financial years’ statements, or an accountant’s letter on company letterhead dated within six weeks confirming profit in both years. Also prepare the latest personal tax return and Notice of Assessment, or six months of personal bank statements showing regular business income. |
| Trust income | The two most recent financial years’ statements, or the accountant’s letter confirming profit in both years. Also prepare six months of personal bank statements showing regular business income. |
Unloan’s income verification guide explains the supporting evidence and allows for additional requests during assessment. A self-employed borrower’s income can qualify even though Unloan excludes property held by a company or trust. The income source and the registered property owner are different checks.
For personal identification, prepare the client’s legal name and residential address. A driver’s licence needs both the licence number and card or document number. The published digital process uses a photograph of the identity document and the applicant’s face.
Unloan also performs a digital credit check and uses automated property valuation technology. If verification stalls or the documents do not explain the income, contact Unloan support through website chat or request a callback on 1300 630 000. Ask what evidence the lending team needs for that application before resubmitting.
Using the Unloan Refinance Calculator
The savings calculator on Unloan’s refinance page compares the entered loan balance and current interest rate with an Unloan loan over the selected term. Choose owner-occupied or investment lending to match the property’s use. Use the rate for the client’s LVR, since higher-LVR loans carry a higher rate.
Enter the client’s remaining loan term for the first comparison. A lower repayment over a new 30-year term can partly reflect slower principal repayment. Compare both loans over the same remaining term before assessing whether extending it serves the client’s needs.
Unloan’s calculation assumes its advertised variable rate stays unchanged, apart from the annual loyalty discount. The discount increases by 0.01 percentage points each year to a maximum of 0.30 percentage points in year 30. Actual variable rates can change, so future repayments and savings can differ from the illustration.
The calculator excludes fees and other charges. Include switching costs separately and account for any costs added to the new balance. The displayed savings do not establish credit approval or guarantee a future repayment.
For a separate comparison, the refinance calculator helps compare loans on consistent terms. In a hypothetical case, $1,200 of switching costs divided by a $100 monthly repayment saving gives a simple 12-month break-even period. That shortcut assumes the saving continues and ignores financing costs and differences in principal reduction.
Fees, Approval and Moving the Loan
Unloan’s FAQs state that it charges no application, ongoing account or exit fees. Government charges and the outgoing lender’s costs remain separate. Budget for mortgage registration and any existing-lender discharge or fixed-rate break costs.
The approved advance must cover the payout required at settlement. Accrued interest or outgoing-lender fees can create a shortfall between that payout and the new loan. Arrange how the client will fund any gap with Unloan’s settlement team.
The client’s route follows the published application process:
- Start the online application and provide the required financial information. Complete the identity and credit checks so Unloan can assess the borrower and property.
- Resolve any further evidence requests and receive Unloan’s approval and loan offer. Read the offer’s conditions before signing the digital contract.
- Obtain and complete the outgoing lender’s discharge form after approval. Unloan coordinates the transfer with that lender.
- Satisfy settlement requirements, including any shortfall. Keep the existing loan repayments funded until settlement is confirmed, then check the old loan payout and new repayment arrangements.
The broader refinance requirements explain the common evidence and settlement process. If a client later leaves Unloan, use the separate Unloan discharge guide for that outgoing transaction.
A client who needs a fixed rate, interest-only repayments or an offset account needs another product, based on Unloan’s published features. Its redraw facility gives access to extra loan repayments, while an offset is a separate account.
If the client needs a broker-managed application, compare products available through that channel. For the policy research, Bulma’s Policy Advisor quotes the lender wording behind its answers, which you can retain with your file notes. Select the lending route and product features the client needs before relying on a savings estimate.
