This was posted 9 years 5 months 25 days ago, and might be an out-dated deal.

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Suncorp Package Plus Standard Variable - 4.15% p.a. (Comparison 4.16% p.a.) No Ongoing Fee

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Suncorp Package Plus Standard Variable - 4.15% p.a. (Comparison 4.16% p.a.) No Ongoing Fee
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Associatedtomleonhart @ Suncorp on 28/05/2015 - 10:15 suncorpbank.com.au (2335 clicks)
Last edited 28/05/2015 - 12:55 by 1 other user

Suncorp has just lowered their Home Package Plus Standard Variable rate to 4.15% p.a. very competitive considering you get an an offset account and a credit card as well and they are waiving the annual fee of $375 for the life of the loan so no on going fee.

Not as low as loans.com.au but if you prefer a brick and mortar lender then this is a great offer :-)

Here is their conditions:

Offer valid from 26/05/2015 to 30/06/2015, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate only available for new loans with Principal and Interest repayments with a balance of at least $150,000. The Package Variable Discount is applied for as long as the loan remains part of the Home Package Plus and may be varied if the loan repayment type is changed before settlement. Pre-approvals excluded.

on a side note, if you're thinking of switching or taking on this deal, don't forget you can couple this deal with this
CRN 476455

Financial Home Loan Loan

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Suncorp
Suncorp

closed Comments

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 10:27
      +5

      I didnt neg you i swear

        • JetBombat on 28/05/2015 - 19:43
          -1

          C'mon guys, this one was funny

  • Austin316 on 28/05/2015 - 10:26

    Hi, is there any possibilities to get this deal for an existing customer?

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 10:27
      -2

      no unfortunately :(

      • [Deactivated] on 28/05/2015 - 12:19

        Try speaking directly to the big fours, they will consider matching rates to other big lenders (usually the big 4) but might work for Suncorp.

        • DealzEddy123 on 28/05/2015 - 13:40

          how is this a reason to neg…

    • cashews on 28/05/2015 - 15:11
      +1

      Pretend that you are refinancing your loan elsewhere.

    • Hotchips on 28/05/2015 - 15:40
      +1

      If they don't want to play ball, try CUA - similar offer. I just moved to them. Cracking good service, 4.1%, Rewards CC with fee waived for life of loan, offset accts (more than 1 if you want). Its a great package - but I must admit, not sure if it is still available. Worth asking though.

      • great-price on 28/05/2015 - 20:38

        What's the trick to getting 4.1% with CUA? I'm paying 4.18%

        • Hotchips on 28/05/2015 - 22:15

          My bad, 4.18 is correct.

    • Tardvark on 29/05/2015 - 09:31

      Yes, contact them and ask. We did it two months ago, had a mortgage with them for 5 years, and they gave us the new customer deal. The only proviso is that you have <80% LVR.

  • quop on 28/05/2015 - 10:54
    +8

    Might be worth asking your current lender if they'll match/do something similar.

    My advisor/broker told me about this deal earlier this week. I was contemplating switching from my lender, and rang them to get confirmation of fees/charges associated with leaving them. They ended up putting me onto one of their lower rate products which is advertised as being for new loans only, so I'm now getting 4.18% thanks to a phone call/asking the question. It's not quite 4.15%, but I don't have to pay discharge fees, mortgage de/re-registration costs, and any setup costs on Suncorp's side. And I save on the hassle of changing banks, direct debits etc etc.

    • herbo on 28/05/2015 - 11:02

      Would you mind saying which lender did that for you?

      • quop on 28/05/2015 - 11:08
        -5

        Not sure if I should name them here but PM me if you want.

        And the move saved me 0.55% (I wasn't on a great rate and therefore had started looking for something better, hence had been speaking with my advisor/broker).

        • quop on 29/05/2015 - 08:11

          Genuine question for anyone who might care to enlighten me: why/how does the above comment elicit negs?

          Anyways to preclude further PMs others have already named the relevant lender.

        • smoke87 on 08/06/2015 - 09:28
          -1

          @quop: the idea of the community it to share information upfront.

        • quop on 08/06/2015 - 21:25
          +1

          @smoke87:

          I was willing to share. All 8 ozbargainers who PMed me got the details.

          However I wasn't sure if I should share that additional piece of information in a publicly visible online environment (it would make it too easy for the named lender to identify me in real life), hence my suggestion for people to PM me if they really want to know the lender.

          I didn't think the name of my lender to be overly pertinent in the first place, hence did not include in my original comment. The point of my original comment is to suggest that others approach their existing lenders (whoever that might be), to ask about matching the Suncorp offer.

          Can this community learn to allow for others' circumspection and discretion?

        • smoke87 on 09/06/2015 - 10:23

          @quop:

          I doubt it. This community seems to have an attitude highly aligned with an autistic interest in numbers, so begs and such are flung around without much concern beyond self satisfaction, attention seeking and promoting ones own interests and deals. People have far too much time on their hands

  • MementoMori on 28/05/2015 - 11:14

    Any ideas on max LVR?

    Would they do 85% without LMI like WBC?

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 11:18

      no it's <80%

  • serin on 28/05/2015 - 11:33

    *Annual package fee waiver applies to new loans of at least $150,000 within the Home Package Plus. Savings based on $375 p.a. over 30 year loan term. The annual package fee of $375 will be charged and refunded to the loan for as long as the loan remains part of the Home Package Plus and will only expire if the loan is closed or varied out of the product or package (where applicable). Offer valid from 27/02/2015 to 30/06/2015. Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Pre-approvals excluded.

    I'm not quite clear about this. Does that mean the annual fee will be charged in the beginning of the year and refunded at the end of the year so if you decide to switch later, you will still have to pay $375 as the annual fee for the last year(because it will not be refunded)? Can anyone enlighten me? Thanks.

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 12:55
      +1

      no. They charge into the account and refund immediately.

  • pumpkins on 28/05/2015 - 11:36
    +3

    I did the move from ANZ to Suncorp when the last deal was posted here https://www.ozbargain.com.au/node/167410

    ANZ would move a bit, but not enough to stop me switching. The switch took a bit of time and effort (direct debits are a pain to change) but certainly worth it. Suncorp has passed on all the rate cuts (the latest one they went 20 points instead of the full 25). Few less ATM's, internet banking a little more clunky, inter-bank transfers need a second password that you get given and can't change. But saving a grand a year or more is worth it.

    Hit me up via PM if you want more details, existing customers get referrals to so would appreciate that as well.

  • velcrochicken on 28/05/2015 - 11:49
    +1

    Ubank are still cheaper at 4.09% so not really much of a deal.

    • Duram on 28/05/2015 - 11:55
      +2

      zomgggggg it has offset zomgggggg. Nah but seriously not a great deal, I am getting 3.94% with Heritage,

      • [Deactivated] on 28/05/2015 - 12:21

        And variable rate changes… personally don't consider any advertised variable rate as a deal. Suncorp could bet he cheapest today but might be the most expensive in a few months time when they don't need to upsize their loan book.

      • jontymate on 28/05/2015 - 13:30

        YA I am variable 3.94% with Heritage too, feel very special..

        • Lancerx on 28/05/2015 - 13:37

          good for single loan..pain for investment ..done that with loans.com.au

          At the end of day, if you know a good broker personally..the bank will be your tool to make more money..

        • quop on 28/05/2015 - 13:49

          Is that due to some loyalty discount? I can only see 4.14% with Heritage on their discount variable product.

        • Duram on 28/05/2015 - 14:06

          @quop: It was like a Xmas special discounted rate + the two? interest rate cuts this year.

        • Duram on 28/05/2015 - 14:07

          It was like a Xmas special discounted rate + the two? interest rate cuts this year.

        • Lancerx on 28/05/2015 - 14:11
          +1

          @quop: Yea I get ongoing 1.2% discount of a standard variable rate. Main thing is I could work out issues with a broker I know on personal level, not some random person on the phone who has no idea of my financial background..just saying sometimes all it takes is the broker saying something nice on your behalf, and magic happen ;) So my advice is, if you wanna invest properly, stick to your major banks..

        • Duram on 28/05/2015 - 14:17

          @skyl: Sounds like you are a fringe investor EG: you have 2% deposit and 1% LVR and then act suprised no one wants to take your loan on, but your broker can get you a loan at 6% from a major bank and you consider this a deal ;).

        • Lancerx on 28/05/2015 - 14:22

          @Duram: You sound like you know all about me, but sorry no you don't. You can make up all the assumptions you want. Let's just leave it there, no point debating my own personal financial in the public ..

        • Duram on 28/05/2015 - 14:24

          @skyl: Yep and making sweeping generalizations that everyone will be in your shoes when they want to invest and why that is a reason to get reemed by a big four bank is a no go either.

        • Lancerx on 28/05/2015 - 14:48

          @Duram: You don't get it do you? I'm not here to kiss the big 4's ass. Put in this way, if lenders like Heritage & Loans.com.au could provide the same flexibility & service level as the major banks' brokers with the low rate they have, I would jump at them in a flash. But truth is they can't because they already offered the lowest rate out there. It's like quality vs quantity thing.

          Put it this way, for e.g. if it weren't for my broker pushing through my finance approval in a day for an opportunistic investment buy, I would have lost out on the lot on the same day to another buyer. Non-bank lenders probably would have go through security questions with me, and asked me to wait for a week to get finance approval with all the required docs…get it now?

        • JetBombat on 28/05/2015 - 19:45

          @skyl: We are all ears

  • jazzymc on 28/05/2015 - 11:49

    Its unfortunate their ATM network is not that great in Sydney

  • [Deactivated] on 28/05/2015 - 12:17
    -7

    Neg-ed for the following reason

    1. Quoting https://www.ozbargain.com.au/node/189394
    2. Not flagging as an associated since you are a broker for Suncorp - Source http://www.vow.com.au/business_partners

    Pretty sneaky…

    I wonder who can do a more cut throat deal when compared to https://www.ozbargain.com.au/node/193956 assuming they have a similar credit provider panel.

    • Savvy on 28/05/2015 - 12:34
      +1

      Don't muck around with a person who has a search engine as a name!

    • oleglap on 28/05/2015 - 13:03

      To be fair, OP is highliting the offer available to general public. Link is to offer details unrelated to poster.

      You can choose to apply directly or go through another broker, so not really worth a negative vote.

  • oleglap on 28/05/2015 - 12:44

    Any brokers in Melbourne who can refund part of their commission?

    PM me!

  • Lancerx on 28/05/2015 - 13:29

    So what's the ongoing discount rate? I got 1.2% off bankwest standard's variable.

    This 4.15% just for new loan, and for certain time only?

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 13:30

      4.15% for new loan only. it's 1.39% ongoing discount.

      • Lancerx on 28/05/2015 - 13:36

        wow..1.39% is awesome, I thought mine 1.2% was pretty good already..

        What about re-financing from BW to sunscorp?

        • Slo20 on 28/05/2015 - 18:42

          You do realise the discount percentage is not relative. One bank may have a standard variable rate of 10% with a 4% discount. Another might have a standard variable rate of 5% with a 1% discount.

        • Lancerx on 28/05/2015 - 18:50

          @Slo20: You could at least say something more realistic, most banks had it around 5-6% anyway. But yes, I do realize that fact. I could honestly say many big banks won't give ongoing more than 1% readily these days..

        • whoopdeedoo on 28/05/2015 - 22:33

          @skyl:

          if your loans are over $1m and owner occupied, you could get 4.15% ish with most banks.

  • ozymart on 28/05/2015 - 13:44

    Hi,

    1:Just wondering is this for residence or investment property?
    Since Big4 are decreasing the discount for investment property,
    I may need to switch.

    2: 1.39% discount is for lifetime of the loan or limited years?

    Thanks.

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 13:49

      1. This can be for residence or investment. However repayment is Principal and Interest only.

      2. For the life of the loan

  • R1ngSt1nger on 28/05/2015 - 14:00

    Tom, just trying to work out if this deal would be good for me.

    We owe $347k on our loan, our house is worth approximately $400k, so our LVR is ~87%. Our interest rate is currently 4.78%

    What would the LMI be roughly to re-finance to this deal?

    • whoopdeedoo on 28/05/2015 - 16:59
      +1

      you could get 4.25% at adelaide bank. however you'll most likely have to pay about $6000 in mortgage insurance so it won't be worth the change.

    • fillit on 28/05/2015 - 17:09
      +1

      Hi SavageCarrot, it probably isn't worthwhile in your situation, if you can squeeze it to 85% LVR there are a few lenders which you can refinance without LMI. Drop me a PM and I can run through the scenarios with you.

  • dreamzz on 28/05/2015 - 14:24

    what are the fees associated with switching a loan from CBA to this? 500k property, 300K left on loan

    • navarch on 28/05/2015 - 14:50

      I am no expert but I would say roughly about $1650. The is from last time I was going to switch but didn't go all the way as CBA gave me a better rate.

      • Associatedtomleonhart @ Suncorp on 28/05/2015 - 15:03

        in NSW.

        $350 discharge fee to CBA
        $214 to de-register and register ($107 + $107)
        $220 settlement fee with Suncorp.

        • MiaSanMia on 28/05/2015 - 16:08

          Just wonder whether Suncorp would charge valuation fee as well?

        • Associatedtomleonhart @ Suncorp on 28/05/2015 - 16:12
          +1

          @tmduc1987: If you only have one property, no they don't

  • pichka on 28/05/2015 - 15:24

    has it got offset n redraw ?

    im with CUA at 4.18% (4.20%)

    main reason was offset n redraw n lifetime no fees

    use canstar n do ur homework

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 15:30

      yes it comes with offset, redraw and a credit card

    • asa79 on 28/05/2015 - 23:17

      Suncorp has offset to as many accounts as you wish, easy redraw can be done via online banking, and no credit card fee up to platinum version.

  • brucebruce on 28/05/2015 - 15:38
    +1

    i'm with loans.com.au at 3.98%, 100% offset, free redraw, debit card

  • expertreader on 28/05/2015 - 15:38

    Imb is at 4.17% with offset and lump sum payment and additional payment without panel to and no fees. Why is this better than imb? Sorry but I am a home loan noob so go easy.

    • fillit on 28/05/2015 - 17:14

      0.02% discount and a credit card! (which for many people is worth between $0 and $500) The selling point is that Suncorp is a major player and a brick and mortar bank, as mentioned you can probably get a cheaper rate elsewhere, however the "assurance" people get is a major draw card.

      • expertreader on 28/05/2015 - 17:42

        I thought imb is a proper bank as well- may not be major bank but still backed by govt guarantees etc.

        • fillit on 28/05/2015 - 18:17

          All banks are backed by govt or more appropriately all deposits up to $250k are secured by the govt. All lenders are subject to various guidelines set by apra.

  • pichka on 28/05/2015 - 16:11

    should be a law that the comparison rate should be the rate not the rate then hidden away, the comparison rate..

    people say I'm with howardiknow bank at 3.95% but the CR is 4.4%

    • dasher86 on 30/05/2015 - 23:49

      The comparison rate is only a guideline, as it changes per loan amount. For the comparison rate to make sense to you, you need to apply it to the amount you are borrowing across all product ranges you are comparing.

  • Duece1995 on 28/05/2015 - 16:41

    Great deal. I too changed to Suncorp fantastic customer service. I called ANZ at the time and didn't want to know about doing a better rate. Big 4 can't match this rate I don't think.

    • uccoffee on 28/05/2015 - 17:51

      westpac, nab and cba doesnt match but definitely can bargain a bit. 4.2%-4.3%. Anz lowest seems = 4.38

    • delfredo on 28/05/2015 - 17:58

      No way Big 4 will match this.

  • MementoMori on 28/05/2015 - 19:08

    Can anyone comment what Suncor are like as far as refinances go?

    Is the process relatively smooth with a reasonable valuation ? I assume they use Valex

    • Associatedtomleonhart @ Suncorp on 28/05/2015 - 19:47

      I'm a broker and I use them myself and can't fault them on anything during the refinance process.

      • tissue on 28/05/2015 - 20:35
        +2

        I'm not a broker but did purchase with the last promotion that Suncorp had in Nov last year. To be blunt it's the fifth time I've purchased or refinanced and it was by far the worst. They completely underestimated the sheer interest in their offer and struggled to meet any dates.

        Suncorp don't do any of their own loan document processing, they get this done by a third party called FMS. Cue lots of finger pointing at each other when they fail to meet their own deadlines, none of which helps the customer. Have a read of some comments on Suncorps Facebook page about it, then see how hard it is to find any contact details for FMS - they don't want to be found cause they don't want to be contactable or accountable.

        I'd imagine if you are only refinancing there should not be as much of an issue, but beware if using them for a purchase.

  • asa79 on 28/05/2015 - 23:16

    Its normal to not pay the loan fee if your paying for the Home Package Plus which is around the same cost per year

  • Mulcha on 29/05/2015 - 08:05

    @OP,
    I'm interested in Fixed Rate and does Suncorp offer 100% offset account on their home package plus?
    Thanks,

    • Associatedtomleonhart @ Suncorp on 29/05/2015 - 08:15
      +1

      3 years fix is 4.15% p.a. Offset account is only for the variable rate though mulcha.

  • asdfghjkl32 on 29/05/2015 - 10:18

    I got 2 loans, one with Suncorp (my name), and also a loan with AMP (my name with my wife's name). if I bring the AMP across, am I eligible to this deal?

    • Associatedtomleonhart @ Suncorp on 29/05/2015 - 10:20

      if its a new loan i dont see why not

      • asdfghjkl32 on 29/05/2015 - 10:21

        I must have mis-read it, "New customer" rather than "New loan", thanks, looking forward to receiving the call from Suncorp.

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