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Suncorp cuts variable rates

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Suncorp cuts variable rates

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James Mitchell 2 minute read

A non-major bank has today announced a range of new competitive offers on its suite of home loan products.

Suncorp Bank has discounted its interest rates across standard variable and three-year fixed owner-occupied and investor Home Package Plus products by up to 1.55 per cent.

Suncorp Bank's head of intermediaries, Steve Degetto, said the new offers give customers the flexibility to select a competitive rate that suits their individual circumstances.

“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,” Mr Degetto said.

“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.

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“We’re also waiving the Home Package Plus annual package fee for the first year (normally $375) for new Home Package Plus customers taking out new lending of at least $150,000.”

Mr Degetto said Suncorp have decided to start 2016 with a new mindset.

“We have listened to broker feedback and made progressive changes to improve our processes and simplify some policies,” he said.

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

Effective today, the new Home Package Plus Special Offers for new owner-occupied loans of at least $150,000 has been discounted by 1.55 per cent on the standard variable, taking the new rate to 4.15 per cent (4.54 per cent comparison rate).

The three-year fixed rate has been reduced by 0.35 per cent to 4.09 per cent (4.52 per cent comparison rate).

The new Home Package Plus Special Offers for new investor loans of at least $150,000 have been reduced by 1.55 per cent on the standard variable rate to 4.42 per cent (4.80 per cent comparison) and a 0.35 per cent discount on the three-year fixed rate to 4.34 per cent (4.78 per cent comparison).

Suncorp cuts variable rates
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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

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