Non major slashes rates

Jan 2016 - News

Non-major lender Suncorp has discounted its interest rates by up to 1.55% across selected standard variable and fixed rate home loans.

The new rates, effective 13 January 2016, will be applied on the standard variable rate and three year fixed owner occupied and investor Home Package Plus products.

The standard variable rate for new owner-occupied Home Package Plus Special Offer loans of at least $150,000 has been cut by 1.55% to 4.15% (comparison rate 4.54%). The three-year fixed rate has been reduced by 0.35% to 4.09% (comparison rate 4.52%).

The standard variable rate for new investment Home Package Plus Special Offer loans of at least $150,000 has also been slashed by 1.55% to 4.42% (comparison rate 4.80%). The three-year fixed rate has been reduced by 0.35% to 4.34% (comparison rate 4.78%).

All of these discounts apply to loans with a loan-to-valuation ration (LVR) of 80% or less.

Suncorp Bank head of intermediaries, Steve Degetto, said the new offers will provide brokers with greater flexibility.

“The Suncorp Bank Home Package Plus product provides customers with flexibility and a wide range of benefits by combining their home loan with other banking products. The new discounted rates only strengthen the value of this award-winning product, and provide brokers with a competitive proposition to deliver to their customers.”

Degetto also announced the Home Package Plus annual package fee will be waived. This is normally
$375 for new Home Package Plus customers taking out new lending of at least $150,000.

“We’ve started the New Year with new thinking. We’ve listened to broker feedback, and made progressive changes to improve our processes and simplify some policies,” Degetto said.

“This improved service, combined with our new competitive offers, will support our broker partners to hit the ground running in 2016.”

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