At a glance…
- Discounted variable rate
- No monthly account keeping fees
- Make additional repayments when you want
Back to Basics
|
Loan Type
|
Reference Rate
|
|
Variable Rate#
|
5.22% p.a.
|
5.27% p.a.
(based upon $150,000 over 25 years) |
#Low Doc Option is available on Standard Variable, Back to Basics, Asset Line, 1 Year Fixed, 2 Year Fixed, 3 Year Fixed and 5 Year Fixed. A Low Doc Margin is added to the standard reference rate displayed.
*Download the Comparison Rate Schedule in PDF format.
| The Basics |
|
| Interest type |
- Variable Interest Rate
- Your minimum repayment may rise and fall in line with interest rate changes. If interest rates fall its your choice: lower your repayments or continue with the same repayments and pay off more of your loan.
|
| Purpose |
- Personal
- Investment
- Low-Doc for self-employed people (1)
|
| Ability to 'split' |
- Yes
- You can choose to 'lock in' the interest rate on part of the loan by selecting a fixed rate but still have access to additional features and flexibility on the remaining variable rate portion of the loan
|
| Term |
|
| Maximum loan amount |
- Up to 95%6 of the purchase price or valuation, whichever is the lower.
- Up to 110%6 of the purchase price or valuation, whichever is the lower, with our Deposit Kickstart option.
|
| Features |
|
| Redraw facility |
- Yes with Suncorp's Cashback (1)
- Access to any extra money you have deposited into your home loan.
- Minimum redraw of $1,000.
- One free Online Cashback transaction per calendar month (2)
|
| Offset facility |
|
| Suncorp Deposit KickStart |
- Use the equity in the home of a family member or friend towards the purchase of your new owner occupied home.
- We may lend you up to 110% (4) of the purchase price or valuation; whichever is the lower amount.
- You will save money as Lenders Mortgage Insurance is not required
|
| Access to extra funds |
- Yes
- Use the equity in your home to access extra money quickly with Suncorp's Add Loan facility.
|
| Statements |
- Issued every 6 months or more often upon request.
|
| Repayments |
|
| Frequency |
Choose weekly, fortnightly or monthly. |
| Methods |
Choose direct from a Suncorp Transaction Account, over the phone or online. |
| Interest only repayments |
Yes. Monthly in arrears. |
| Additional repayments |
Yes. Make lump sum and additional repayments when you want in order to pay off your loan sooner (5) . |
| Fees |
Description |
| Loan establishment fee |
$600 |
| Account keeping fee |
NIL |
| Mortgage Insurance |
If applicable for loans over 80% loan to value ratio |
For a complete guide to the fees and charges on our loans, please download
the Lending
Fees and Charges brochure (PDF, 301kb) or obtain a copy from a
Suncorp
branch near you.
- You need to apply for Cashback, which is available subject to conditions.
- The fee will be charged but will be refunded to your account. Fees apply for subsequent transactions
- Exclusions and maximum loan amounts apply. Suncorp will lend you 95% of the purchase / construction price or valuation (whichever is the lower).
- Terms and Conditions apply.
- A Deferred Establishment Fee applies if the loan is paid out within the first 4 years.
- A Loan to Value interest rate margin is added to standard reference rates displayed where you borrow 90% or more of the value of the property as determined by the Bank. The margin will expire after 3 years.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Comparison rate schedules are available at any Suncorp branch.
