Why choose a Standard Variable Rate Home Loan?
The Standard Variable Home Loan offers a low variable rate and is a great way to save on interest through optional 100% mortgage offset capability when linked to your Everyday Options transaction account.
Whether you’re buying your first home, investing in property, or just looking for your current home loan to work harder for you, make your next property move with this variable home loan.
- Low variable interest rate
- Save on interest with optional 100% mortgage offset capability when linked to your Everyday Options transaction account
- Statements are issued every 6 months
Special Offer: For customers with eligible new home lending over $150,000.
First Home Buyer Special Offer: For Owner Occupier first home buyers who have never previously purchased a property with eligible new Home Lending of over $150,000.
Home Package Plus: For customers with eligible home lending over $150,000, which can be a combination of existing and new lending.
Standard Interest Rate: For customers without a package. Minimum lending requirement is $10,000.
Interest rates quoted below are inclusive of a discount margin which is deducted from the Standard Interest Rate`
Special offer – Fee Waiver
Annual Package fee waived for new Home Package Plus customers – for the first year, save $375 ∇
Home Loans provided to approved applicants only. Credit and lending criteria applies and is subject to change without notice.
+ Advertised rate valid from 12 September 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for new personal/owner-occupied purpose loans of at least $150,000 where borrowings are less than 90% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable). Rate includes a Principal and Interest (P/I) Package Variable Discount of 1.76% p.a. applied to the Bank’s P/I Standard Variable Rate for personal/owner-occupied lending (currently 5.55% p.a.). P/I discount is applied for as long as the loan remains part of the Home Package Plus and repayment type is P/I. The discount may be varied if the loan purpose or repayment type is changed before settlement. Interest Only, pre-approvals & investment lending excluded.
++ Advertised rate valid from 1 November 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for new Investment purpose loans of at least $150,000 where borrowings are less than 90% of the security property value. Rate includes a Principal and Interest (P/I) Package Variable Discount of 1.55% p.a. applied to the Bank’s P/I Standard Variable Rate for investment lending (currently 5.99% p.a.). P/I discount is applied for as long as the loan remains part of the Home Package Plus and repayment type is P/I. The discount may be varied if the loan purpose ore repayment type is changed before settlement. Interest Only, pre-approvals excluded.
The Home Package Plus (HPP) Discounts are applied for as long as the home loan remains part of the Home Package Plus. Interest rates and discounts are subject to change without notice. Discount margins may be withdrawn at any time before a contract is entered into. Discounts are applied to the applicable Standard Interest Rate at the day Settlement.
∇ 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. The annual package fee of $375 is charged and refunded to the loan. Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.
` For a full list of rates with discount margins displayed, please view our Home Loan Rate Guide
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 P&I interest rate plus or minus any applicable margins specified in your credit contract.
^ The standard Fixed Rate offered on the day of settlement of the loan will apply unless the rate is secured by paying a Guaranteed Rate Fee. At expiry of the fixed rate period, the rate will revert to the applicable Standard Variable Interest Rate less any applicable margin discount specified in your credit contract. The Interest Only period on a Fixed Rate must equal the Fixed Rate term.
# Each comparison rate is based on $150,000 over 25 years. WARNING: 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. 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 for Suncorp Bank Personal Deposit Accounts and the Terms and Conditions for Suncorp Accounts before making a decision regarding a Suncorp Bank transaction account. Fees, charges, terms and conditions apply and are available on request or at suncorp.com.au/banking/help-support/documents-forms.
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.
Allows you to increase the value of your existing home loan, useful for purposes like renovations subject to credit criteria
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
Interest only repayments subject to credit approval
Lock in your interest rate and repayment amount
A rate that is variable and is subject to change over the loan term.
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.