At a glance…
- Want a fixed and variable interest rate that gives you the best of both worlds?
- You can choose to 'lock-in' interest rates on part of the loan by selecting a fixed rate while still allowing for flexibility by keeping part of the loan on a variable rate.
| Features |
Description |
| Split your loan to suit you |
Choose any fixed rate or variable rate home loan and split your loan any way you like (eg. 75% fixed, 25% variable). |
| Repayment Flexibility |
Choose weekly, fortnightly or monthly repayments (but be careful not to exceed your minimum monthly repayment by more than $500 or you will incur a fee1 on the fixed rate loan). Make repayments directly from a Suncorp Transaction Account, in a branch or over the phone or via the internet. |
| Fixed Term |
Fixed rates are available for 1, 2, 3 and 5 year periods on the fixed portion of your split rate home loan. |
| Term |
Choose from 8 to 30 years when you apply. |
| Purpose |
You can use the split rate home loan for investment and personal purposes. |
| Interest Only |
Choose Interest Only repayment periods on the fixed rate and variable rate loan. The interest only repayments on a fixed rate home loan can be made monthly in arrears or annually in advance. The interest only repayments on a variable rate home loan can be made monthly in arrears. Available for investors and personal purposes. |
| 100% Home Loan Offset Facility |
The Variable Rate Home Loan comes with the option of a 100% Home Loan Offset Facility a feature of the *Everyday Options Account. This facility enables you to use your income and savings to reduce your loan interest. A Mortgage Offset Fee applies to set up the 100% Home Loan Offset Facility charged to the Loan Account to be linked.
You can also have up to three Everyday Options sub-accounts with the combined account balances used to offset the loan balance. |
| Cashback (Redraw) |
Variable rate home loans have Cashback 2 - a redraw facility that gives you access to any extra money you've deposited into your home loan. You can apply for Cashback if you have the minimum redraw amount of $1,000 in advance payments. The fee for your first Cashback transaction each calendar month is refunded. (A fee for additional Cashback transactions in the same month applies.) |
| Suncorp Deposit KickStart |
This option enables you to use the equity in the home of a family member or friend towards the purchase of your new owner occupied home. Suncorp may lend you up to 110%4 of the purchase price and or valuation of your new owner occupied home (whichever is the lesser). |
| Statements |
Statements are issued every 6 months or more often if you request this. |
| Fees |
|
| Loan Establishment fee |
$600 on the first split, $200 on second and subsequent splits |
| Mortgage Insurance (for loans over 80% loan to value ratio) |
If applicable |
| Account Keeping fee |
$10 per month, per loan
(except for Annual Interest In Advance home loans) |
| Guaranteed Rate fee |
You pay a Guaranteed Rate Fee to secure a fixed rate (not available for Introductory One Year Fixed Rate) for 90 days following your application. The fee is calculated at 0.15% of the amount borrowed (excluding other fees which are financed by the loan). This fee is non-refundable. |
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.
Important Information
1 An Early Repayment Interest Adjustment Fee applies if more than the prepayment allowance (currently $500 per calender month) is paid in excess of the agreed monthly repayment. Fee applies to the whole amount pre-paid. A deferred establishment fee may also apply if the loan is paid out within 4 years.
2 You need to apply for Cashback which is available subject to conditions.
3 Exclusions and maximum loan amounts apply. Owner Occupied only. Suncorp will lend you 100% of the purchase / construction price or valuation (whichever is the lower).
4 Terms and Conditions apply.
Product Disclosure Statement
*The Everyday Options account is issued by Suncorp-Metway Ltd ABN 66 010 831 722. Please read the relevant Product Disclosure Statement before you make any decisions regarding any of these products. Contact us for a copy.
