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The funds can be withdrawn like a bank account, using a Visa Debit card or EFTPOS card, with interest paid only on the amount drawn.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Offer valid from 27/03/2017 until withdrawn.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.
Discounted Access Equity Line of Credit with Home Package Plus
°°Discounted rate is only available for loans taken out as part of the Home Package Plus Special Offer >= $150,000 and borrowings <= 90% of the security property value (LVR) inclusive of lender’s mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (currently 3.79% p.a.) is calculated by subtracting a discount of 2.11% p.a. from the Standard Access Equity (Line of Credit) Rate (currently 5.90% p.a.). The discounted rate special offer is available on eligible loans applied for from 4 December 2019. Rates and discounts are subject to change.
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Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.
#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.