Quick Summary
Founded
1840
Owned by:
Australian Unity Members
Funded by:
Deposit funds and wholesale Markets
LMI Provider:
Genworth
Lender type:
Banks, Customer Owned
Australian Unity is a member-owned company providing financial and healthcare services for the well-being of its customers.
It was established in 1840 in Melbourne as the Manchester Unity International Order of Oddfellows in Victoria. In 1993, the company merged with Australian Natives’ Association to become Australian Unity.
The company provides a range of services, like health and dental insurance, banking, home loans, insurance and financial planning consultancy.
Australian Unity is not an available lender on our panel. This is a review only.
How do Australian Unity home loans compare?
Pros
- Home Loan owners can get discounts on health insurance from Australian Unity
- Free redraw facility
- Flexible repayment options
- Unlimited extra repayments
- No ATM fees from the Big Four banks
- Package loans available
- Interest-only home loans available
- Offset accounts available
- No annual package fees
- Low interest rates
- Online and mobile banking
- Repayment holiday options
Cons
- Upfront and trail fees
- Limited loan options
- No bad credit loans
- No high-loan-to-value ratio (LVR) loans
- High establishment fees
- Discharge fee after successful payment of home loan in full
- No equity access options
- No off-the-plan loans
- No special loans for first-home buyers
What are the home-loan options available at Australian Unity?
Owner-occupier loans
Australian Unity provides three options for owner-occupier home loan clients, as of 16 May 2021:
- Kick Starter Home Loan: Low variable rate loan ranging up to 80% LVR with a term of 1-30 years and unlimited redraw and repayment facilities.
- Health Wealth Happiness Home Loan: Fixed and variable rate loan for home purchase or construction with 100% offset facilities.
- Health Wealth Happiness Package: Home loan with flexible repayments along with waived establishment fees, split-loan facilities, and discounted interest rates.
Investor loans
Australian Unity provides two options for investment home loan clients, as of 16 May 2021:
- Wealth Builder Investor Loan: Low-rate principal and interest or interest-only loans with minimum deposit of 10% and option to save up to 10% on health insurance.
- Wealth Builder Investor Package: Flexible home loan up to 90% LVR with the option to change from fixed to variable, extra repayment facilities and repayment holidays.
Compare Australian Unity with other lenders
If you’re finding it hard to decide which home loans are most suitable for you, talk to our specialist mortgage brokers at Home Loan Experts.
We make sure we understand your situation and complete a thorough pre-assessment before suggesting the most suitable lenders for you.
Call us at 1300 889 743 or fill in our free online enquiry form.
Find Out If You Qualify For A Home Loan
Get A Free AssessmentTips for applying with Australian Unity
- Make sure you prepare all documents showing identification, residency, assets and liabilities, and employment information, to make the process faster.
- Please take a look at the terms and conditions, fees and charges for each of the products before applying for them.
- Make use of the rates Australian Unity provides on its website to compare its products.
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