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Fixed Rate Home Loan 3.99% for 5 Years (CR 4.32%) at Suncorp + $1,500 Cash Back on Own Occ Loans @ Cape Finance

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Fixed Rate Home Loan 3.99% for 5 Years (CR 4.32%) at Suncorp + $1,500 Cash Back on Own Occ Loans @ Cape Finance
Go to Deal
AssociatedCapeFin on 21/08/2017 - 10:28 suncorp.com.au (239 clicks)
Last edited 03/09/2017 - 13:04 by 1 other user

Happy Monday fellow OzBargainers,

For the next three weeks only Suncorp Bank are offering a 5 year fixed rate for owner occupied loans at 3.99% with P&I repayments along wth the first year package fee ($375) being waived.

In the spirit of OZBargaining, we are prepared to offer $1,500 cash back if you decide to use Cape Finance to help arrange the loan and the minimum total lend is $500k. Your rebate will be paid within 60 days of settlement.

They also have the following owner occupeid rates on offers:
Variable basic 3.68% (CR 3.69%)
Variable package 3.79% (CR 4.23%)
Fixed 1yr 3.69% (CR 4.26%)
Fixed 3yr 3.79% (CR 4.62%)
Fixed 5yr 3.99% (CR 4.32%)

Each comparison rate is based on loan size $150k over 25 years

Please email [email protected] to find out more about this offer or any other specials.

The following terms for offer have been communicated:
- P&I repayments unless construction involved
- Maximum LVR 90% (inc LMI)
- Establishment fee waived as part of the members package
- Valuation fee waived as part of members package
- Credit card and offset account included as part of members package
- Minimum loan size $150,000
- Pre approvals excluded
- Application must be submitted in full prior to 5pm 8th September

We strongly suggest utilising the 'rate lock' option to secure this rate at the time of application - cost is 0.15% of the loan amount (min $600). If you do not rate lock then you will be eligible for the fixed rate on the day your loan settles.

Cape Finance are Perth based finance brokers and are able to service clients Australia wide FREE of charge. Note that we are not directly associated with the bank and they make up one of more than forty lenders on our residential loan panel. Please let me know if you would like to discuss alternate lender options.

Authorised credit representative 478455 of Connective Credit Services Pty Ltd Australian Credit Licence Number 3889328.
And for that legal bit.. Your full financial situation would need to be reviewed prior to acceptance of any offer or product. Normal lending criteria and fees and charges apply. Terms and conditions apply and are available upon request.

NB: I tried to keep this post from being too long, feel free to shoot me a message if you have any questions.

Financial Home Loan Loan Refinance

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closed Comments

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 10:34

      How so? This is a limited time special from the bank supported by a cash back offer from us.

      • jv on 21/08/2017 - 10:36

        How so?

        Can get cheaper home loan.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 10:40

          Which bank? From our panel it is the cheapest 5 year option.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 10:43
          +1

          @jv: Ok the cheaper option then for a 5 year fixed rate?

  • Trying2SaveABuck on 21/08/2017 - 10:54
    +2

    Thats not bad for 5 years fixed - the annual fee puts me off though

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 10:57

      Hopefully the first year being waived and the cash back from us, which will cover the rest of the package fees, will help.

      The below link provides further details on the package offering:
      https://www.suncorp.com.au/banking/loans/home-loans/package-…

      • Trying2SaveABuck on 21/08/2017 - 11:06
        +1

        It wouldn't be enough to draw me personally from my online lender Ubank but if i was with the big 4 or someone who prefers branch level service then i'd you probably couldnt find a better fixed deal for a tier 1 or tier 2 lender.

  • Iwantthatbargain on 21/08/2017 - 11:02
    +1

    Is there any exit fee?

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:06

      The discharge fee is $350, there may also be break costs involved if the fixed rate loan is paid out early.

    • jv on 21/08/2017 - 11:12

      any exit fee?

      one of many fees…

      read their fine print…

      • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:15

        Many exit fees? All banks are required to disclose potential fees in their fee brochure.

        Here is a copy of the fees guide:
        https://www.suncorp.com.au/content/dam/suncorp/bank/document…

        • jv on 21/08/2017 - 11:20

          All banks are required to disclose potential fees

          And many don't charge exit fees too…

        • jv on 21/08/2017 - 11:22
          +1

          All banks are required to disclose potential fees

          Why don't you mention all the fees in your post above?

          You seem keen to push the cashback, but don't disclose the fees that basically take the cash back.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:24

          @jv: Apologies for not including the fee guide in the original post mate, I have posted it above for your reference.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:25

          @jv: Discharge fees are commonly charged by banks when removing a charge over a title, from my experience I would not say many don't charge the fee.

        • jv on 21/08/2017 - 11:25

          @CapeFin:

          Apologies for not including the fee guide

          I'm referring to posting the actual fees in your post, not a link to a guide with more fine print.

          People can then read the guide if they think this 'might' be an option for them, rather than waste their time.

        • jv on 21/08/2017 - 11:26

          @CapeFin:

          I would not say many don't charge the fee.

          I would.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:26

          @jv: What actual fees was I not posting?

        • jv on 21/08/2017 - 11:27

          @CapeFin:

          "lending criteria and fees and charges apply."

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:29

          @jv: Yes and I posted the package fee is $375, this includes the application and valuation fee. There may be additional fees (eg if you have a guarantor) but that will not be applicable to everyone and is something to be discussed with people actually interested in this offer and how it would suit their individual circumstances.

  • Iwantthatbargain on 21/08/2017 - 11:10
    +1

    We strongly suggest utilising the 'rate lock' option to secure this rate at the time of application - cost is 0.15% of the loan amount (min $600). If you do not rate lock then you will be eligible for the fixed rate on the day your loan settles.

    If this is Fixed rate, why there is a fine print about the rate change? Because Loan settlement may take time..

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:13
      +1

      Because the offer is only available for 3 weeks at this stage, if your loan was to settle after that time (which it most likely would) then you would be looking at the fixed rate available on the day of settlement if not rate locked. This option is not required on the variable offers mentioned.

    • jv on 21/08/2017 - 11:13
      -5

      why there is a fine print about the rate change?

      so they can charge you more fees…

  • ShortyX on 21/08/2017 - 11:15
    +2

    Not a fan of package fees. Why can't banks just offer a low rate with an offset without a package fee?

    CapeFin - why are the CR rates quite high?

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 11:19

      Because of the interest rate that the fixed rate loan reverts to and also the relatively small ($150k) loan size the comparison rate is based on. After the fixed rate matures we will negotiate with the bank or provide other lender offers in the market.

      Not all the offers have the package fee though, the Back to Basics variable special at 3.68% does not need to be packaged.

      • ShortyX on 21/08/2017 - 13:46
        +1

        the Back to Basics variable special at 3.68% does not need to be packaged

        But no offset.

        Good deal nonetheless.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 13:49

          That is correct, it does offer unlimited extra repayments and a redraw facility. For a variable offset loan you would need to look at the variable package option.

      • mini_wombat on 21/08/2017 - 14:05

        The usual "bank bullshit" … after 5 years you are back to the drawing board. They will revert you back on the highest rate possible and hope that you can't refinance. Why can't it just revert back to the best variable offer.

        • AssociatedCapeFin @ Suncorp on 21/08/2017 - 14:34

          Agreed! It seems like more of a risk they will have existing clients shop around rather than just give them a good offer to reward loyalty

        • mini_wombat on 21/08/2017 - 15:09
          -1

          @CapeFin: Unfortunately all banks do it (at least I don't know any other example). But as the costs are high to swap over and it's time-consuming they get away with it. So it always depends on your personal situation. When you think you will have no problems to refinance it's no big deal to take up such an offer … but I hate how they lure in first timers and then sting them later.

  • PopCounty on 21/08/2017 - 12:21
    +1

    Should it be valid 'deal' for refinancing as well?

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 12:24

      Yes you can refinance as well on this offer.

  • Ninjabredman on 21/08/2017 - 12:25
    +1

    Pretty good for 5 years

    I just fixed a 2 year one only at 3.8% with ANZ

    • Trying2SaveABuck on 21/08/2017 - 13:50

      Is that Variable or Comparison rate?

      • Ninjabredman on 22/08/2017 - 08:59

        i'm not sure, it's a promotion they kicked off

        fixed 2 years, 3.8 / 3.88, one or the other still a good rate

        • Ninjabredman on 22/08/2017 - 09:01
          +1

          https://www.anz.com.au/personal/home-loans/package/

          (Principal and Interest rates under ANZ Breakfree package)

          Interest rate with ANZ Breakfree package discount (2 year fixed):

          3.88% p.a.

          4.98% p.a.
          comparison rate (2 year fixed)8

        • AssociatedCapeFin @ Suncorp on 22/08/2017 - 10:33
          +1

          @Ninjabredman: The offer is still current from ANZ and NAB has a similar offer (3.88% fixed for 2 years with P&I repayments on investment or owner occupied loans) with a bonus 350K NAB points

  • Gleung on 21/08/2017 - 14:45
    +1

    Hi OP, I noted that the offer is for owner-occupier. Am looking for a better deal for my two existing loans - one owner-occupier and one investment. Any suggestion?!

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 15:04

      Have sent you a PM

  • mikedenoob on 21/08/2017 - 19:35
    +1

    How is this compare the the auswide 3 years 3.69 fixed?
    Looking to refinance my homeloan at the moment

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 19:39

      It depends on your strategy over the next 3 - 5 years and where you think interest rates will be at that time, feel free to shoot me a PM if you would like to have a chat about the options.

  • vssv on 21/08/2017 - 20:57
    +1

    Does suncorp waives LMI for Doctors if borrowing is more than 80%? I am looking at refinance…!
    Thanks

    • AssociatedCapeFin @ Suncorp on 21/08/2017 - 21:04

      Not that I am aware of, I will check and let you know if they are able to.

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