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Buying a second home

This might not be your first rodeo, but things may have changed. We’re here to help find the best fit for you.

Great rates means more for you

Badge Rate Dropped ! in Green Text & Yellow Background.

Back
to Basics

No ongoing account keeping fees

Owner Occupied

Discounted Back to Basics Variable Rate with Better Together Special
New to bank lending >= $150,000
Maximum LVR 90%
Principal and Interest repayments
Comparison rate warning

Key features

 100% Mortgage Offset capability

 Redraw cashback facility

 Make additional repayments anytime

More about features & fees
Badge Rate Dropped ! in Green Text & Yellow Background.

Standard
Variable

100% Home Loan Offset facility

Most popular

Owner Occupied

Discounted Standard Variable Rate in Home Package Plus
New to bank lending >=$150,000
Maximum LVR 90%
Principal and Interest repayments
Comparison rate warning

Key features

 100% Mortgage Offset capability

 Redraw cashback facility

 Make additional repayments anytime

More about features & fees
Badge Rate Dropped ! in Green Text & Yellow Background.

Fixed

Repayment & rate certainty

Owner Occupied

Discounted 3 Year Fixed Rate in Home Package Plus
New to bank lending >= $150,000
Maximum LVR 90%
Principal and Interest repayments
Comparison rate warning

Key features

 100% Mortgage Offset capability

 Redraw cashback facility

 Make additional repayments anytime

More about features & fees

View our Suncorp Bank home loan interest rates or generate a facts sheet for one of our loans.

Limited time offer

Receive a $2,000 Cash Bonus!

Available when you take out a Home Package Plus home loan of $250,000 or more.
Apply by 13 December 2019, settle by 5 March 2020.^^

See Things you should know for more detail.

Talk to a home lending specialist

Hands cupping tiny house

Here to help continue your journey

Your financial situation may have changed have changed since you took out your first home loan

Understand your borrowing power

Have you thought about what you’re going to do with your current property – keep it as an investment, or sell it before buying a second home to live in?  Assessing your existing home equity can help you understand how much you can borrow.

No matter what you choose to do, applying for pre-approval can help you know where your buying limit lies.  Pre-approval is 100% fee free, valid for 3 months and once approved you are under no obligation to lend with Suncorp.

Use cashback to access more money

If you’ve made extra repayments on your variable home loan you could access these funds via cashback, which could be a way to help pay for your next home.

Buy before selling or sell before buying?

You might be selling your home before you buy a new one, or buying before you sell. Either way its best to talk to one of our home loan specialists to understand what you can afford and ensure you’re aware of all the costs. They can work through the best way to structure and manage your mortgage.

Selling your existing property

If you’re starting to plan for how to sell your house, there are plenty of considerations and questions to ask: Are you thinking of renovating to add value to your home? Do you need help moving into your new home? Do you need legal advice to sell your property? We can make selling your home easier by arming you with information, tools, and services to guide you through the process.

Home loan calculators

Get a clear understanding of what you could borrow & afford. Plus, if you’re looking to switch to Suncorp Bank, see what you could be saving on your loan.

Home loan repayment calculator

Stamp duty calculator

Home loan borrowing capacity calculator

What you could save by switching to Suncorp

Chat to us today, we’re here to help

Apply for pre-approval

Make an offer on a property with more confidence. Pre-approval is 100% fee-free and obligation free.

Talk to a home lending specialist

We will call you within 24hrs (or next business day) to discuss your home lending needs.

For all queries about existing Suncorp Home Loans call 13 11 55 Mon-Fri 8am-6pm (AEST/AEDT)

Discounted Back to Basics variable rate with Better Together special
* 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 <= 90% 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 3.03% p.a.) is calculated by subtracting a discount of 1.62% from the Standard Back to Basics Variable Rate (currently 4.65% p.a.). The discounted rate is available on eligible loans applied for from 18 October 2019. 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. Banking products are issued by Suncorp Bank. Please read the relevant Product Information Document and the Terms and Conditions before making any decision regarding this product. These documents are also available at Suncorp Bank stores on our Product Information Documents and Forms page

Discounted Standard Variable Rate with Home Package Plus
+ Discounted rate is only available for new Personal/Owner Occupied loans taken out as part of the Home Package Plus Special Offer >= $150,000 and borrowings <= 80% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (3.44% p.a.) is calculated by subtracting a discount of 1.79% from the Standard, Standard Variable Rate (currently 5.23% p.a.). The discounted rate is only applicable to the Standard Variable loan while the loan remains in a Home Package Plus. The discounted rate is available on eligible loans applied for from 8 November 2019. Rates and discounts are subject to change. Pre-approvals excluded.

Discounted 3 Year Fixed Rate in Home Package Plus
‡ Discounted rate is only available for new Personal/Owner Occupied 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 2.89% p.a.) is calculated by subtracting a discount of 0.45% p.a. from the Standard 3 Year Fixed Rate (currently 3.34% p.a.). At the expiry of the 3 Year Fixed Rate Term, the loan will revert to the applicable Standard Variable Rate advertised at the time (currently 5.23% p.a.) less the Home Package Plus discount (currently 1.79% p.a.). The discounted rate is only applicable to the 3 Year Fixed Rate loan while the loan remains in a Home Package Plus. The discounted rate is available on eligible loans applied for from 8 November 2019. Rates and discounts are subject to change. The Standard 3 Year Fixed Rate applicable on the day of settlement of the loan will be used to calculate the applicable discounted fixed rate unless the rate has been secured by paying a Guaranteed Rate Fee, which must be selected at time of loan application. Pre-approvals excluded.

# 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.

^^ $2,000 Cash Bonus
The Home Loan Cash Bonus (the “Cash Bonus”) is applicable when you are approved for and settle an Eligible Home Loan with Suncorp Bank. An Eligible Home Loan is a home loan that is: (1) applied for between 2 September – 13 December 2019 and settled by 5 March 2020; (2) a loan amount of at least $250,000 in new to bank lending with a Loan to Value Ratio of 90% or less; (3) Purchase or Refinance, for Owner Occupied or Investment purposes (4) a Standard Variable or 1, 2, 3 or 5 Year Fixed Rate loan in the Home Package Plus; (5) Back to Basics & Line of Credit / Access Equity is excluded, except when application is split with another eligible loan product of at least $250,000; (6) not established in the name of a company, business or trust. Refinancing of an existing Suncorp Bank home loan or pre-approvals are ineligible for the Cash Bonus. The Cash Bonus cannot be taken in conjunction with “Switch & Save” Offer or any other cash promotional offer, unless expressly stated otherwise. A limit of one (1) payment of $2,000 will be made to a borrower and if there is more than 1 borrower one (1) payment will be made to them jointly. Each borrower, whether individually or jointly, can only ever receive a payment of $2,000 once. If any of the borrowers have received a payment whether individually or jointly under the Cash Bonus previously then no further payments will be made. The $2,000 cash payment will be credited to the linked Everyday Options account which forms part of the Home Package Plus, within 30 days of the settlement date. Suncorp Bank reserves the right to vary or withdraw the Cash Bonus at any time. Applications subject to credit approval. Fees, and charges may be applicable. Full terms and conditions will be included in our loan offer. Depending on your financial circumstances, you should obtain independent advice before making any decisions regarding the Cash Bonus.

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.

Comparison Rate

A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product. For more information about the comparison rate and the comparison rate warning, please refer to the things you should know section of this page.

Variable Rate

A rate that is variable and is subject to change over the loan term.

Fixed Rate

Lock in your interest rate and repayment amount

Lenders Mortgage Insurance

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.