|
Lender Name |
SUNCORP |
|
Product Name |
MONEY
MANAGER / MY
HOME PACKAGE |
|
Product Type |
VARIABLE/FIXED/ASSET
LINE |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Minimum:
$1,000 1
free redraw
(via
Internet and
to Suncorp
account)
each month
$20 fee. |
|
Offset |
100% Offset
- Balance of
Every Day
Options
Account
against
Standard
Variable
Home Loan.
Everyday
Options
Account.
Unlimited
fee free
Suncorp
Transactions.
Easy access
to funds.
Optional
offset
facility
balance of
all sub
accounts (up
to 3) offset
against the
SVR home
loan. Up to
3 sub
accounts
with
interest
(when not
used as an
offset
facility).
Available in
or out of
package.
Electronic
transactions
only on sub
accounts. |
|
Fees |
Application
Fee Rebated
on eligible
Home Loan
products
Standard
Variable,
Fixed and
Asset Line.
Everyday
Options
Package Fees
$300 per
annum
charged at
$25 per
month.
Account
Keeping Fee
Nil.
Additional
Valuation
Fee $160
Progressive
Funding Fee
$250
Early Payout
Fee $800 (
if paid out
in 4 years).
Redraw Fee
$20.
Offset
Facility Fee
$75 (once
only fee) |
|
LVR |
Owner
Occupier &
Investment
Maximum LVR
100% Refer
Special
Lenders
Criteria.
Construction
Maximum LVR
95%.
Refinance/Debt
Consolidation
No Cash Out
Maximum LVR
95%.
Refinance/Debt
Consolidation
Cash Out
Maximum LVR
90%.
LVR for both
personal and
investment
purposes.
Maximum
number of
loans that
can be
consolidated
is 4.
Maximum loan
amount
$500,000..
Vacant Land
Maximum LVR
95%.
Asset Line -
Maximum:
90%.
Construction
Not
available. |
|
Repayment
Type |
Principal &
Interest,
Interest
Only 1 - 5
Years and
Interest
Only
Personal
Purpose .
Interest
Only
Personal
Purpose the
loan must
roll to
Principle
and Interest
when the
Interest
Only Period
is
completed.
Minimum
Interest
Only term is
3 months
with a
maximum of
60 months.
At the end
of 60 months
there is an
option to
extend by an
additional
60 months
subject to
credit
approval.
Terms and
Conditions
apply. |
|
Repayment
Options |
Monthly (to
loan from
Offset
Account).
Weekly or
Fortnightly
(to Offset
Account). |
|
Repayment
Method |
From Offset
Account, Pay
at Australia
Post and
Branch. |
|
Extra
Repayments |
Allows the
borrower to
use their
income and
savings to
effectively
reduce the
balance of
their loan
by way of a
100%
interest
offset
facility.
The borrower
has
immediate
access to
their funds
by cheque
book and/or
electronic
access. |
|
Special
Offers |
Discount
margin off
the Standard
Variable
Rate &
Asset Line.
Tiered
Interest
discounts
(note based
on
individual
loan size no
aggregation
allowed).
$0 - $149K
0%.
$150K<$249K
0.50%
Discount.
>$250K 0.70%
Discount.
Discount
rates apply
to Standard
Variable
Rate & Asset
Line.
Interest
rate
discounts do
not apply
during any
fixed
period.
NOTE; Must
open a
transaction
account with
this
package. |
|
Term |
Maximum: 30
years. |
|
Loan Size |
Minimum
$150k (based
on Total
Borrowings). |
|
Mortgage
Insurance |
Yes. If LVR
is greater
than 80%. |
|
Acceptable
Income |
As per
policy
guidelines. |
|
Product
Change |
Yes
Switching
fee of $300. |
|
Statements |
Issued 6
monthly. |
|
Portability |
Yes |
|
Split Loan
Facility |
Yes
Unlimited. |
|
Special
Notes |
Key Points
about My
Home
Package:
The Everyday
Options
Account is a
transaction
Fee Free
account with
offset
option. $75
one off
Offset Fee
applicable.
Optional
Suncorp
Consumer
Credit
Insurance
for Home
Loans (death
cover,
capped at a
maximum of
$300,000 for
5 years. The
cover only
applies to
new retail
loans only:
Standard
Variable,
Fixed and
Back to
Basics.
Vacant Land
as sole
security
Metro
Metro
Regional
Regional
NSW
VIC
QLD
All
other
Max LVR
80%
80%
80%
65%
House
$800,000
$500,000
$500,000
$500,000
Land
$500,000
$300,000
$300,000
$400,000
The maximum
loan amount
where the
LVR does not
exceed 65%
is $400,000
Please refer
to the
Business
Partners
site for
full details
of these
changes.
100% Home
Loan Option
and Deposit
Kickstart
Option
available
refer to
Special
Lenders
Criteria. |
|
Target
Market |
Allows the
borrower to
use their
income and
savings to
effectively
reduce the
balance of
their loan
by way of a
100%
interest
offset
facility.
The borrower
has
immediate
access to
their funds
by cheque
book and/or
electronic
access. |
