Better Deal Challenge The smart, fast and easy way to get a better home loan

When we learned that more than 1 in 3 homeowners were not confident they got the best deal on their home loan, we decided that had to change.

That's why we're putting our money where our mouth is. Even if you find a better deal, we’ll negotiate with our lenders and try to match it.

And, if you get your home loan through us, we'll also pay the difference between our proposed loan and your better deal for a year.

What you need to know

  • If you happen to find a better deal on a comparable product, based on the same needs and objectives you've told us, we'll pay the difference for a year
  • We pay the difference between the first year total cost of our proposed loan and your Better Deal 90 days after your uno Home Loan settles
  • You'll need to show us a credit contract or credit proposal within 72 hours of receiving our credit proposal
  • So we can compare apples with apples, the better deal you've found must be comparable to the deal we proposed. This means the home loan product must have identical term, rate type, repayment type, structure and product features to the uno home loan described in the served Credit Proposal.
  • To find out more view the Terms and conditions

All your questions answered

  • What is the Better Deal Challenge?

    We will find you a better deal on your home loan. If you find a better deal elsewhere, then we'll pay the first year difference between the loans if you settle your loan through uno.

  • It's the home loan that has the features that meet your requirements and objectives and costs you the least amount of money possible - whether you want to minimise those costs over the life of the entire loan, or minimise your monthly payments.

  • There are hundreds and hundreds of different mortgage products on the Australian market. On top of this, there are hundreds of variations or ‘rules' that modify those products based on a customer's unique situation. This leads to thousands of possible product configurations for an individual customer. Right now, we have 892 of these product rules on our platform. Without smart technology, it's extremely difficult for anyone - be that a customer or an adviser - to identify what the best options, given a customer's requirements and objectives. Fortunately for uno, we have that technology. In fact, we're so confident in the decision engine behind our platform, and that our home loan experts work to sharpen that deal by negotiating with lenders, that we've put this initiative together as part of our mission to get every Australian a better deal on their home loan.

  • When determining a better deal, we start by asking you a few questions to understand what's important to you and why you want a home loan. From there, we then take the information you've told us and diligently assess your requirements, objectives and financial situation so we can find you suitable products that have the features and structure that suit you. We look at all of the lenders on our panel (not just one or two options that you might get through a lender, or a traditional broker) and identify the one that will cost you the least over a timeframe that works for you - be that lower monthly repayments or overall cost of the loan.

  • We talk ‘better deal' and not ‘better rate' because customers are not always solving for solely lowest rate and there are other things to consider like fees. This means checking all of the product features & fees to ensure you receive the deal that meets your individual requirements and objectives. The other critical objectives customers also solve for include borrowing power and service levels.

    When we talk about getting a better deal, we mean the loan that has the features and structure to suit a customer's individual requirements and objectives that comes with the lowest possible cost - whether the customer chooses to minimise costs on a monthly basis, or over the entire life of the loan. Interest rates are a big part of what makes a home loan deal a great one. There's so much more than just rates when getting a better deal for the customer.

  • Unfortunately, no - they aren’t obliged to find you the best deal - and while some will try and find you the best deal, they tend to be limited by how many lenders' products and rules they can know personally, which could be only one-to-two lenders.

    For too long, the standard for what customers expect has been far higher than the standard the industry has been delivering. The regulation of credit providers and mortgage brokers stipulates that a provider or adviser must only recommend a loan that is ‘not unsuitable’ for the customer’s circumstances.

    However, we know that customers expect and deserve the best - rather than just something that’s not unsuitable. This Better Deal Challenge, backed by uno’s pay the difference assurance, is our way of raising the bar for the industry to the level that customers expect across all other categories - which is the level they deserve for what’s possibly one of the biggest financial decisions of their lives.

    • You'll need to send us a Credit Proposal or an indicative or conditional approval or a loan offer from another lender. You can send it to your dedicated uno expert.
    • So we can compare apples with apples, the deal you've found must be comparable to the deal we proposed. This means the home loan product must have identical term, rate type, repayment type, structure and product features to the home loan described in the served uno Credit Proposal.
    • Send to us via email within 72 hours of receiving our Credit Proposal.
    • From there, we can see if your deal is better!
  • If you do find a better deal, uno will pay you the difference in total cost over the first year. The first payment will be made within 90 days of your uno Home Loan settling. We pay the difference into your account over 12 monthly payments, after settlement of your loan with us.

  • At uno, we're confident we'll get you a better deal. That's why we'll not only try to match or better an offer you've found elsewhere, but also pay you the first year difference from the original proposal we gave you if yours is better and you stick with us. That's extra savings back in your pocket so it's a win-win for you.

  • Yes! If you come to us with a better option from any lender - not just from those we already work with - we'll do our very best to match it with one of the many lenders we work with. And, if you end up going with us, we'll pay you the difference in first year cost between the loan you found and the one we'd originally proposed.