The Rate Breaker Package Home Loan is available for loans between $250,000 and $1,500,000. There's no upfront application fee and one free property valuation. It is available for loans up to 95% of the property value for owner occupiers but mortgage insurance is required over 80% LVR.
The CUA Rate Breaker Package has a 100% mortgage offset account which can help you save a stack of interest. You can also make lump sum payments to your account without penalty and if you ever need the cash back, there is a free redraw facility.
The CUA Rate Breaker Package is called a 'package' because it comes with a Platinum MasterCard with no annual fee, 1 month free premium each year on CUA health insurance, up to a 5% discount on car insurance and up to a 10% discount on home, contents and landlords insurance.
There are fees and charges with the CUA Rate Breaker Package such as the $350 a year service fee and the $195 settlement fee.
Who it's good for:
Anyone who is looking for a big bank alternative and wants to do all their banking with a single provider.
Loan repayments are required on a monthly basis, so watch your budget if you're paid weekly or fortnightly.