G&C Mutual Bank Home Loans: The 2026 Review

G&C Mutual Bank, legally known as Unity Bank Limited, was formed on March 7, 2025, following a strategic merger between G&C Mutual Bank and Unity Bank. This merger was driven by a shared vision to enhance community-focused banking services. On July 1, 2025, the bank adopted the name Unity Bank Ltd, symbolising its unified identity and commitment to serving its members. Headquartered in Sydney, NSW, G&C Mutual Bank has established itself as a customer-owned institution dedicated to providing personalised financial solutions.

Today, G&C Mutual Bank positions itself as a viable alternative to the Big 4 banks, emphasising its independent, community-owned model. With a portfolio of 44 financial products, the bank offers a comprehensive range of services, including competitive home loans with features like offset accounts and redraw facilities. The bank's business model is centred around delivering personalised service and maintaining transparency, setting it apart in a competitive market.

G&C Mutual Bank primarily targets investors, first home buyers, and individuals seeking refinancing options. Its focus on customer ownership and community engagement is reflected in its offerings, such as waived valuation fees and the absence of establishment or monthly loan fees. The bank's Momentum Home Loan, featuring unlimited extra repayments and daily interest calculations, is particularly attractive to those seeking flexible and cost-effective financial solutions. Despite facing challenges in customer service and fee transparency, G&C Mutual Bank remains committed to providing a customer-centric banking experience.

• Legal Name: Unity Bank Limited
• ABN: 72087650637
• Established: 2025
• Headquarters: Sydney, NSW
• Type: Mutual Bank
• Ownership: Independent

• Website: https://www.gcmutual.bank
• Phone: 1300 364 400
• Email: [email protected]
• Address: Level 25, 201 Elizabeth Street, Sydney, NSW 2000

G&C Mutual Bank provides flexible and cost-effective home loan options, featuring benefits such as waived fees, offset accounts, and redraw facilities to enhance borrower value.

• Momentum Offset Account: Linking a Momentum Offset Account to your home loan allows the money in the account to reduce the loan balance on which interest is charged. This can significantly decrease the interest paid over time, providing a cost-effective way to manage your mortgage.
• Repayment Redraw Facility: This facility enables borrowers to access additional repayments if they are at least one full repayment ahead. Redraws can be made from $100 and are easily managed through the bank’s app or online banking, offering flexibility and convenience.
• 24/7 Digital Access: Borrowers can manage their loans anytime with 24/7 access via internet banking and the mobile app. This feature ensures convenience and ease of management, allowing for real-time monitoring and transactions.
• Guarantor Support: A guarantor can provide additional security for the loan, which may allow borrowers to secure a loan amount that might not be possible on their own. This feature is particularly beneficial for those with limited deposit funds.
• Loan Splitting: This feature allows borrowers to divide one loan into multiple accounts with varying types, repayment schedules, or interest rates. It provides flexibility in managing different financial strategies within a single loan structure.
• No Establishment Fee: G&C Mutual Bank offers loans with no establishment fees, reducing upfront costs for borrowers. This makes the initial loan process more affordable compared to lenders who charge these fees.
• Flexible Repayment Options: Borrowers can choose from weekly, fortnightly, or monthly repayment schedules, allowing them to align payments with their income cycle. This flexibility helps in personal financial planning.
• Extra Repayments: Unlimited extra repayments are permitted, enabling borrowers to pay down their loan faster and reduce overall interest costs. This feature supports financial flexibility and long-term savings.

G&C Mutual Bank offers a transparent fee structure, with various charges depending on the type of loan and specific borrower needs. Fees can vary significantly across different products, providing flexibility but requiring careful consideration by borrowers.

• Loan Establishment Fee - Second Mortgage Loan (Top-Up): Variable - A fee charged for consent to a subsequent mortgage to vary the value of an existing home loan.
• Valuation Fee: Variable - Covers the cost of obtaining a valuation report on your property or the property being purchased. Waived up to $1000 for special offers.
• Registration Fees: Variable - Third party cost for registration of mortgage.
• Title Search Fee: Variable - Third party cost for a Title Search to determine any interests in a property.
• Mortgage Administration Fee: $150 - Charged if loan documents are requested during the life of the loan.
• Mortgage Discharge Fee: $300 - Charged if you repay your loan and request a discharge of your mortgage. Includes internal costs and external party fees.
• Late Payment Fee: $15 - Charged when minimum monthly payments are not made.
• Security Guarantor Fee: $200 - Payable if a guarantor is listed on the loan schedule.
• Loan Switch Fee: $200 - Charged to switch your loan account from one type to another.
• Variation of Security: $200 - Charged for varying security or other loan details, requiring new documents or loan reassessment.
• Consent to Subdivide: $250 - Charged when seeking the bank's consent to subdivide a property.
• Mortgage Discharge - PEXA Service Fee: Variable - Covers third party costs associated with the discharge of your mortgage.
• Default Notice Fee: $50 - Charged if you default on repayments and a default notice is issued.

G&C Mutual Bank offers home loans tailored for first home buyers, owner-occupiers, and investors, focusing on community-driven and flexible financial solutions.

• Applicants must be at least 18 years old.
• Applicants must be permanent residents of Australia.
• Applicants must be employed and demonstrate the ability to repay the loan.
• Applicants must have a satisfactory credit history as per the bank's assessment.
• The loan is available only for external refinancing purposes.
• Eligible for first home buyers under the Australian Government 5% Deposit Scheme.
• Loan-to-Value Ratio (LVR) must not exceed 90% without Lenders Mortgage Insurance.
• Property must be located in approved areas as determined by the bank.
• Applicants must reside in the property, except for investment properties.
• At least one borrower must meet essential worker criteria for certain loan products.

• Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
• The Australian Government 5% Deposit Scheme allows eligible buyers to purchase a home with a deposit as low as 2%, without LMI.
• Special offers are available for new refinance applications, but not for existing loans.