Standard Variable Rate Home Loan
At a glance…
- Packed with features and flexibility so you can pay your loan off sooner
- Make additional repayments when you want
- 'No Deposit' option available
Standard Variable Home Loan
|
Loan Type
|
Reference Rate
|
|
Variable#
|
9.67% p.a.
|
9.82% p.a.
(based upon $150,000 over 25 years) |
#Low Doc Option is available on Standard Variable, Back to Basics, Asset Line, 1 Year Fixed, 2 Year Fixed, 3 Year Fixed and 5 Year Fixed. A Low Doc Margin is added to the standard reference rate displayed.
*Download the Comparison Rate Schedule in PDF format
| The Basics |
|
| Interest type |
- Variable Interest Rate
- Your minimum repayment may rise and fall in line with interest rate changes in the market place. If interest rates fall it’s your choice: lower your repayments or continue with the same repayments and pay off more of your loan.
|
| Purpose |
- Personal
- Investment
- Low-Doc for self-employed people
|
| Ability to 'split' |
- Yes
- You can choose to ‘lock in’ the interest rate on part of the loan by selecting a fixed rate but still have access to additional features and flexibility on the remaining variable rate portion of the loan.
|
| Term |
|
| Maximum loan amount |
|
| Features |
|
Redraw facility |
- Yes with Suncorp's Cashback (1).
- Access to any extra money you have deposited into your home loan.
- Minimum redraw of $1,000.
- One free Cashback transaction per calendar month (5).
|
Offset facility |
|
No Deposit Option |
- We may lend up to 100% of the purchase price or valuation, whichever is the lower amount, less financed Lenders Mortgage Insurance (2) .
- You will need to cover all bank, legal and government fees and charges associated with the purchase of the property.
|
Suncorp Deposit KickStart |
- Use the equity in the home of a family member or friend towards the purchase of your new owner occupied home.
- We may lend you up to 110% (3) of the purchase price or valuation; whichever is the lower amount.
- You will save money as Lenders Mortgage Insurance is not required
|
Access to extra funds |
- Yes
- Use the equity in your home to access extra money quickly with Suncorp's Add Loan facility.
|
Transaction account benefits |
- Yes
- If you have a 100% Home Loan Offset Facility linked to your home loan, we'll waive the standard Everyday Options account keeping fee.
|
Statements |
Issued every 6 months or more often if you request. |
| Repayments |
|
| Frequency |
- Choose weekly, fortnightly or monthly.
|
| Methods |
- Choose direct from a Suncorp Transaction Account, over the phone
or online.
|
| Interest only repayments |
|
| Additional repayments |
- Yes
- Make lump sum and additional repayments when you want in order to
pay off your loan sooner (4) .
|
| Fees |
|
Loan establishment
fee |
$600 |
Account keeping fee
|
$10 per month |
Mortgage Insurance
|
If applicable for loans over 80% loan to value ratio |
For a complete guide to the fees and charges on our loans, please download
the Lending
Fees and Charges brochure (PDF, 228kb) or obtain a copy from a
Suncorp
branch near you.
A Frequently Asked Question...
What is the main difference between Back to Basics and the Standard Variable rate home loan?
The Standard Variable Rate home loan offers you the option of a 100% Offset Facility. The Back to Basic Loan offers you a discounted variable interest rate and no monthly account keeping fee(6) . Both the Back to Basics and Standard Variable Home Loans offer the flexibility of a Redraw facility, giving you access to extra money you have deposited into your Home Loan.
More Home Loan FAQs
Notes
- You need to apply for Cashback, which is available subject to conditions.
- Exclusions and maximum loan amounts apply. Suncorp will lend you 100% of the purchase/ construction price or valuation (whichever is the lower).
- Terms and Conditions apply.
- A Deferred Establishment Fee applies if the loan is paid out in the first 4 years.
- The fee will be charged but will be refunded to your account. Fees apply for subsequent transactions.
- Subject to change without notice. Other fees and charges may apply.
Product Disclosure Statement - Everyday Options Account
The Everyday Options account is issued by Suncorp-Metway Ltd ABN 66 010 831 722. Please read the relevant Product Disclosure Statement before you make any decisions regarding any of these products.
Comparison Rate
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Comparison rate schedules are available at any Suncorp branch.
