Unloan offers a digital-first home loan platform that simplifies the mortgage process by eliminating common fees like application, account, and exit charges. It provides competitive interest rates and annual loyalty discounts, making homeownership and refinancing more accessible and cost-effective for Australian borrowers.
Funding
Funding not disclosed
Founders
Product
Problem
Securing a home loan often involves complex application processes and significant fees, creating barriers for individuals looking to purchase or refinance property. Traditional lenders can impose various charges, including application, account, and exit fees, which increase the overall cost of homeownership.
Solution
Unloan provides a digital-first home loan platform designed to offer competitive interest rates and a streamlined user experience. The platform eliminates common fees such as application, account, and exit fees, simplifying the borrowing process for customers. It supports both home purchases and refinancing, with a focus on transparency and cost savings. Customers can access tools to estimate savings, calculate repayments, and determine borrowing capacity. Additionally, Unloan offers loyalty discounts that increase annually, rewarding long-term customers.
Target Audience
The primary customers are individuals in Australia seeking to purchase a new home or refinance an existing mortgage, who value low interest rates and a fee-free, digital-centric lending experience.
Features
- Digital-only home loan application and management portal
- No application fees, account fees, or exit fees
- Competitive interest rates with annual loyalty discounts (0.01% p.a. increase up to 0.30% p.a.)
- Unlimited redraw facility for accessing additional repayments
- Online calculators for savings, repayments, and borrowing capacity
- Property value and affordability assessment tools
- Fully owned division of Commonwealth Bank, leveraging its financial strength and technology
- Secure data handling with strict privacy controls