Yes, you can apply by completing a refinance application with us! Unloan offers refinancing for properties that are owned outright allowing customers to access equity in their property.

You will need to complete a refinance home loan application via the Unloan website. To start an application, go to http://www.unloan.com.au and click ‘Get Started’ located on the top right of the page.

In the application, you will need to enter the details of your income, expenses and liabilities.

Once you reach the 'Debts and Liabilities' section please enter any liabilities you have such as a credit card and/or personal loan. As you own your property outright, the application will confirm that you have not added a home loan to the application.

Please select 'Continue' and you will commence to the “Set Up Your Unloan” section, from here you will be able to request your cash-out amount.

We offer loans from $10,000 to a maximum of $10,000,000, subject to credit approval.

We will require that you remain under a loan to value ratio (LVR) of 80% or less. When you refinance your home with us, we’ll get an updated valuation of your property to make sure your loan-to-value ratio is not too high.

More information regarding our eligibility criteria can be viewed here.

We do offer debt consolidation at Unloan, provided you remain under the required 80% LVR.

Unloan factors in debt consolidation when determining your borrowing capacity. You can also select any debts you want to be consolidated into your new home loan in this section. More information about debt consolidation can be found here.

After you have completed your application including your income and ID verification, you will be assigned to one of our Unloan lending specialists. They will be in touch to discuss the next steps, in the days following the application submission.

Learn more about applying to Unloan here.

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval, satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000, and total borrowings per customer across all Unloan loans is $10,000,000. (For purchase loans a minimum 10% equity is required - however a Lenders Mortgage Insurance (LMI) premium and higher interest rate apply. In some cases, depending on the property’s location or type, an LMI premium may also be required for LVR between 70.01% to 80%). For loans with Lenders Mortgage Insurance (LMI) the minimum loan amount is $10,000, maximum loan amount is $3,000,000 and total borrowings per customer across all Unloan loans is limited to $3,000,000).

Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

*At Unloan, we do not charge any annual, application, banking, account, transaction, late or exit fees. In certain circumstances you may be required to pay a Lenders Mortgage Insurance (LMI) premium. Learn more about why this is applied and how it works. Government fees may also apply. Learn more about government fees here. Your current lender may charge an exit fee when refinancing.