Use the equity in your home to establish a line of credit. When you pay the loan down, you can reaccess these funds to the approved credit limit.
Accessibility and flexibility
The funds can be withdrawn like a bank account, using a Visa Debit card or EFTPOS card, with interest paid only on the amount drawn. Make payments whenever it suits you as long as you remain within your approved limit.
We’ll waive the annual package fee for the first year, saving you $375.
Offer valid from 27/03/2017 until withdrawn. The first annual package fee is waived for new Home Package Plus customers with new lending of at least $150,000.
Things you should know
+ Discounted Access Equity Line of Credit with Home Package Plus
Advertised discounted rate valid from 14 September 2018, is subject to change without notice and may be withdrawn at any time. Offer available for new Access Equity facilities with total new home lending in the Home Package Plus of >= $150,000, where borrowings <= 90% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable). Disclosed Interest Rate is based on Access Equity (currently variable interest rate of 6.44% p.a.) less package net discount of -1.95% p.a. Discount is applied for as long as the facility remains part of the Home Package Plus. Pre-approvals excluded.
1 Home Package Plus – annual fee waiver
Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.
Other things you should know
Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. A repayment type of interest only is available on loans with an LVR limit <90%. At the expiry of the interest only period, the rate will convert to the applicable Principal &Interest Rate plus or minus any applicable margins specified in your credit contract.
For a full list of rates with discount margins displayed, please view our Home Lending Interest Rate Guide.
# COMPARISON RATE WARNING: Each comparison rate is based on $150,000 over 25 years. These comparison rates apply 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 and the 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.
Lenders Mortgage Insurance (LMI)
If you are borrowing more than 80% of the value of the property, you will be required to pay Lenders Mortgage Insurance. This is a one-off payment and can be financed into the loan.
Lenders Mortgage Insurance protects Suncorp Bank against loss in the event of a forced sale of a mortgage property. It does not insure you but may make it possible for you to buy a home with a smaller deposit. You will still be responsible for all amounts owing in relation to your loan.
You can choose to split your loan and fix a portion of your borrowings at a fixed interest rate for greater budgeting certainty. At expiry all fixed rate loans revert to the Standard Variable rate and may differ to the Access Equity variable interest rate
Split your loan
You can choose to split your loan and fix a portion of your borrowings at a fixed interest rate for greater budgeting certainty. At expiry all fixed rate loans revert to the Standard Variable rate
A rate that is variable and is subject to change over the loan term.