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How much is stamp duty and other upfront costs?
Our lowest home loan variable rate
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Discounted Back to Basics Variable Rate with Better Together Special Offer. Owner Occupied. New to bank lending ≥ $150,000. Maximum LVR 60%. Principal and Interest repayments.
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Frequently asked questions
What is stamp duty?
Stamp duty is a tax applied to certain purchases, including the sale of property in most states and territories. The exact amount of stamp duty payable depends on the state or territory where you’re buying the property. Other factors include the property's price and whether it will be your primary residence or an investment.
For more information, read our articles, “How much is stamp duty in Queensland” and “What is the total cost of buying a house”.
How is stamp duty calculated?
Calculating stamp duty will differ depending on the state where you are purchasing a property. By using Suncorp Bank's stamp duty calculator, you'll receive an estimated amount of the stamp duty you would be liable to pay when buying a property in any Australian state or territory.
Are there any exemptions to paying stamp duty?
Depending on your situation, you may be eligible to pay reduced or no stamp duty. For example, first home buyers in specific states or territories may be offered exemptions, concessions or reductions on stamp duty. Exceptions may also be available for certain types of purchases (e.g. off the plan builds) and certain types of property transfers (e.g. property inheritances). Check the website of the relevant state or territory revenue office for more information.
It’s important to note that the stamp duty calculator provided by Suncorp Bank does not factor exemptions into stamp duty estimates. Check the website of the relevant state or territory to learn more about potential exemptions or concessions.
Are there any other extra cost considerations?
In addition to stamp duty and home loan costs, there are some other potential costs to consider when purchasing a property. These include pest and building inspections and applicable legal and conveyancing fees. For more information, read our article, “What is the total cost of buying a house”.
*Discounted rate is only available for new Personal/Owner Occupied loans taken out as part of the Better Together Special Offer >= $150,000 and borrowings <= 60% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments and who hold a Suncorp Bank transaction account. The discounted rate (currently 6.13% p.a.) is calculated by subtracting a discount of 2.52% from the Standard Back to Basics Variable Rate (currently 8.65% p.a.). Rates and discounts are subject to change and may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. The discounted rate is available on eligible loans applied for from 17 November 2023.
# COMPARISON RATE:
A comparison rate is a rate that indicates the true cost of a loan. This comparison rate is based on $150,000 over a term of 25 years and incorporates certain fees and charges that are applicable for the chosen product.
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 rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document, Lending Fees and Charges and Home Package Plus Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.
