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Suncorp lowers fixed rates

by Hannah Dowling6 minute read
Suncorp

The non-major has lowered fixed rates by up to 40 basis points for residential lending, effective 8 November.

Suncorp has announced that it will drop rates across some of its fixed home loan products on both principal and interest (P&I) and interest-only repayments (IO) by up to 40 basis points for new owner-occupiers and investors taking out loans from tomorrow (8 November).

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A summary of the fixed rate changes are as follows:

Suncorp Home Package Plus with Special Offer for owner-occupiers, P&I repayments:

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  • two-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 2.89 per cent (3.75 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 2.89 per cent (3.70 per cent comparison)
  • five-year fixed rate, First Home Buyer, LVR of less than or equal to 95 per cent - cut by 40 bps to 2.99 per cent (3.27 per cent comparison)

Suncorp Home Package Plus with Special Offer for investors, P&I repayments:

  • two-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 3.19 per cent (4.04 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 3.19 per cent (3.99 per cent comparison)

Suncorp Home Package Plus with Special Offer for investors, IO repayments:

  • two-year fixed rate, LVR of less than or equal to 90 per cent - cut by 20 bps to 3.39 per cent (4.06 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 90 per cent - cut by 20 bps to 3.39 per cent (4.02 per cent comparison)

Suncorp Home Package Plus for owner-occupiers, P&I repayments:

  • two-year fixed rate, LVR of less than or equal to 95 per cent - cut by 10 bps to 3.19 per cent (4.31 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 95 per cent - cut by 10 bps to 3.19 per cent (4.24 per cent comparison)
  • five-year fixed rate, LVR of less than or equal to 95 per cent - cut by 40 bps to 2.99 per cent (4.03 per cent comparison)

Suncorp Home Package Plus for investors, P&I repayments:

  • two-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 3.49 per cent (5.05 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 90 per cent - cut by 10 bps to 3.49 per cent (4.93 per cent comparison)
  • five-year fixed rate, LVR of less than or equal to 90 per cent - cut by 30 bps to 3.29 per cent (4.64 per cent comparison)

Suncorp Home Package Plus for investors, IO repayments:

  • two-year fixed rate, LVR of less than or equal to 90 per cent - cut by 20 bps to 3.69 per cent (5.08 per cent comparison)
  • three-year fixed rate, LVR of less than or equal to 90 per cent - cut by 20 bps to 3.69 per cent (4.97 per cent comparison)
  • five-year fixed rate, LVR of less than or equal to 90 per cent - cut by 30 bps to 3.49 per cent (4.71 per cent comparison)

[Related: Virgin Money slices fixed rates by up to 20 bps]

Suncorp lowers fixed rates
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Hannah Dowling

Hannah Dowling

AUTHOR

Hannah Dowling is a journalist for The Adviser and Mortgage Business.

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