RateUnity was founded to challenge the unfair power held by banks over mortgage holders. By bringing Australians together, we use strength in numbers to secure fairer mortgage rates. Our mission is to return power to everyday people and help reduce the financial strain many households face.

For many of their lenders, RateUnity takes a discounted brokerage and in exchange, their customers get an exclusive discounted rate. We keep mortgages simple:Sharp rates direct from RateUnityAccess to 40+ banks through our partners if our loan isn’t the right fitBy working with selected lenders and partners, RateUnity aims to help customers access competitive mortgage options.

No. Registering with RateUnity does not affect your credit rating. If you choose to proceed with a loan, the lender will conduct a credit check, recorded as a “hard inquiry,” which may temporarily lower your score by a few points.

A Hero Bank is a financial institution that has pre-approved sharp rates exclusively for RateUnity customers.

RateUnity is not currently using Open Banking, but hopes to in the near future. Open Banking allows you to securely share your banking data with third parties accredited by the Australian Competition and Consumer Commission (ACCC). Since 1 November 2020, Australian bank customers have been able to grant accredited organisations access to data such as savings, credit cards, mortgages, personal loans and joint accounts. This can make it easier to: Compare banking products and find a better deal Manage accounts in one place Switch between products or banks more smoothly You control how your data is shared, and ACCC rules protect that data. In future, RateUnity may use Open Banking to help with validation, verification and credit review steps, making the mortgage process faster. This would only be possible with your consent, in addition to accepting the Terms and Conditions included in the RateUnity sign-up form. For more information, visit the Australian Banking Association’s Open Banking page.

Fixed rate A fixed rate loan has an interest rate that stays the same for a set period of time (usually one to five years). At the end of the fixed term, the loan normally switches to a variable rate. Variable rate A variable rate loan has an interest rate that may go up or down during the life of the loan. These changes affect the amount of interest you pay. Variable rates are closely linked to the Reserve Bank of Australia (RBA) cash rate. For current and historical cash rates, see the RBA website. Split rate A split loan combines both fixed and variable. For example, 70% of the loan may be fixed and 30% variable. This gives you some certainty on part of your loan while keeping flexibility on the other. Principal and Interest (P&I) Your repayments cover both the amount you borrowed (the principal) and the interest charged on that amount. Over time, your loan balance reduces as you keep repaying. Interest Only (IO) Your repayments cover only the interest charged, not the principal. This means your monthly payments are lower, but your loan balance doesn’t reduce unless you make extra repayments.

A Comparison Rate (CR) is a standard way of comparing home loans in Australia. It combines the advertised interest rate with most upfront and ongoing fees and charges, including application, annual and monthly fees where applicable, using a standard example of a $150,000 secured loan over 25 years.Comparison Rates are required by law and is a requirement overseen by the Australian Securities and Investments Commission (ASIC) to help consumers compare home loans on a more consistent basis.For example: Own Home Variable: 4.89% p.a. (Comparison Rate 5.20% p.a.). In this example, there is a $349 application fee, but no annual or monthly fees. However, the advertised interest rate is an introductory discount for the first two years, after which the interest rate reverts to the applicable standard variable rate for the remainder of the loan term. The Comparison Rate reflects this higher revert rate over the life of the example loan, which is why it is higher than the introductory interest rate.WARNING: The Comparison Rate applies only to the example given. Different loan amounts, loan terms, fees and charges may result in a different Comparison Rate and may affect the total cost of the loan.

The Loan to Value Ratio is the loan amount compared to the property value, expressed as a percentage. An LVR below 80% is generally considered strong. Above 80%, most lenders require Lenders Mortgage Insurance (LMI).

Lenders Mortgage Insurance (LMI) is a one-off insurance premium that you may need to pay if your deposit is typically less than 20%. It protects the lender, not the borrower, if the loan can’t be repaid.

If you’re part way through a fixed rate term, it’s important to understand that breaking a fixed rate mortgage early can come with significant fees and penalties. You should seek independent financial advice before making any decision to leave a fixed rate loan early. RateUnity can still assist by: Registering your details so you’re included in our groups for future sharper rates once your fixed term ends Keeping you updated on current offers, so you’re ready to act when your fixed period expires

No. RateUnity is not associated with Unity Bank or Australian Unity.

For loans arranged through RateUnity, the main bank fees are: Offset product: $199 application fee Basic variable product: $150 + $199 application fee = $349 Please note this does not include funds required to complete the loan, or mandatory government fees and charges that apply when refinancing or purchasing a home. These may include: Mortgage registration and discharge fees Mortgage transfer fees Stamp duty (on purchases) These costs are set by state governments and lenders, and will depend on your personal circumstances.

If you want to speed up the process, you can consolidate these documents (as PDFs) which may be required to proceed with the mortgage:All Applicants:1.     Driving license (front and back) or some photo ID with your address on it2.     Medicare card 3.     Passport /birth certificateIncome / Expenses:4.     Latest 3 months for all Mortgage Statements, Credit Cards and Bank statements. 5.     Latest 2 payslips for all applicants6.     PAYG Summary – year to date summary for all applicants (from workplace)7.     ATO website/issued: For all applicants the last 2 years Personal Tax Returns and the last 2 years Notice of Assessment. Property:8.     Council or Rates Notice for all properties if refinance / Contract of sale for new purchase.Optional:9.    Investment Properties? Need the Council / Rates Notice; rental income statements (3 months) and tenancy agreement or rental valuation if not tenanted.10.  Self Employed (PTY LTD)? Last 2 years of business financials (P&L + balance sheet); most recent BAS Statement and 2yrs of Company Tax Returns.11. Additional sources of income/benefits? Centrelink statement or child support documentation to evidence payments etc.If currently living in a rented property, last 6-month rental statement.

Yes. It’s free to see whether you could save, and there’s no obligation to continue. You can check your potential savings in just a few minutes, and if the numbers don’t stack up for you, you’re under no pressure to proceed.

RateUnity is designed for Australian homeowners and property investors who want to see if they can get a better home loan rate. Whether you’re refinancing, comparing your current loan, or looking at your next move, we may be able to help if you have a variable loan or are coming to the end of a fixed term.

Yes. Refinancing is one of the main ways we help. If you’re looking to reduce your rate, improve your repayments, or simply see whether your current lender is still competitive, we can explore options that may better suit your situation.

We bring Australians together to negotiate with banks for sharper home loan rates. You complete a quick online sign-up, we assess your details, and then we look for a better offer through our lending network. If we can secure a lower rate, you can review it and decide whether to move ahead. Simple, transparent, and no unnecessary back-and-forth.