Suncorp Standard Variable Home Loan Special Offer (Home Package Plus)

Mozo snapshot:

The Suncorp Standard Variable Home Loan Special Offer (Home Package Plus) is one of those great home loans that offers both value and flexibility. It’s full of handy features, and best of all, offers some seriously competitive rates. Variable rates for owner occupiers start at 3.59% p.a. (3.99% p.a. comparison rate*), while investors can enjoy rates as low as 3.89% p.a. (4.28% p.a. comparison rate*).

Key features:

With the Suncorp Standard Variable Home Loan Special Offer (Home Package Plus), owner occupiers borrowing at least $150,000 (LVR >90%) will be able to take advantage of a competitive 3.59% p.a. variable rate (3.99% p.a. comparison rate*). Investors will also find they’re well accommodated for. If you’re taking out an investment loan of at least $150,000 (LVR >90%, P&I), you’ll be looking at variable rates in the range of 3.89% p.a. (4.28% p.a. comparison rate*).

Complementing those rates are a whole host of useful features. For example, you’ll be able to pay down your loan on either a weekly, fortnightly or monthly basis, chip in extra without facing any charges, and access a redraw facility if you decide you need some of those extra contributions back. Just keep in mind that the redraw facility comes with a few conditions: only the first redraw of the month is free and you’ll have to withdraw a minimum of $1,000

Rounding out the list is one more perk which refinancers will definitely appreciate. If you’re switching from an existing loan of $250,000 or more with a LVR of less than 90%, Suncorp will give you $2,000 cashback. Just remember this is only available if you apply by 13 December 2019 and settle by 5 March 2020.

Who it's good for:

This one would suit both first home buyers, who would benefit from the 90% LVR, and refinancers, who could receive $1,500 when switching from a home loan of $250,000 or more.