Buying a second home

Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.

^±Discounted rate is only available for new Personal/Owner Occupied loans taken out as part of the Better Together Special Offer >= $150,000 and borrowings <= 60% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments and who hold a Suncorp Bank transaction account. The discounted rate (currently 6.13% p.a.) is calculated by subtracting a discount of 2.52% from the Standard Back to Basics Variable Rate (currently 8.65% p.a.). Rates and discounts are subject to change and may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. The discounted rate is available on eligible loans applied for from 24 April 2024.

# COMPARISON RATE:
A comparison rate is a rate that indicates the true cost of a loan. This comparison rate is based on $150,000 over a term of 25 years and incorporates certain fees and charges that are applicable for the chosen product.

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 rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.

*Our Special Offers, Package and Standard Interest Rates explained

Interest rates displayed may include a discount margin applied to the applicable Standard Interest Rate and discount margins are subject to maximum LVR requirements. Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable.

For a full list of rates with discount margins displayed, please view Interest Rates for Home Loans.

Home Loan Special Offer Rates: Available for customers with eligible new Suncorp Bank home lending over $150,000:

• Home Package Plus - Standard Variable or Fixed Rate home loan packaged with our Everyday Options transaction bank account or;
• Better Together Offer - Combine a Back to Basics home loan with our Everyday Options transaction bank account.

To compare Suncorp Bank Home Loan products, features and fees visit Compare our Home Loans.

Home Package Plus First Home Buyer Special Offer: For eligible Owner Occupier first home buyers who have never previously purchased a property with eligible new Suncorp Bank home lending of over $150,000 and <=95% LVR.

Home Loan Standard Interest Rate: The minimum lending requirement is $10,000 and does not include any discount margins.

All rates are valid until withdrawn and are subject to change. For Better Together Special Offer & Home Package Plus Special Offer, an Everyday Options Account will be opened for all new customers that do not already hold a Suncorp Bank transaction account. Pre-approvals are excluded from Special Offer rates.

For Fixed Rate products, the standard Fixed Rate offered on the day of settlement of the loan will apply unless the rate is secured by paying a Guaranteed Rate Fee. At expiry of the fixed rate period, the rate will revert to the applicable Standard Variable Interest Rate less any applicable margin discount specified in your credit contract. The Interest Only period on a Fixed Rate must equal the Fixed Rate term.

Fixed loans are allowed extra repayments of up to $500 per monthly repayment period without penalty. If an extra repayment is made in excess of the allowance, an Early Payment Interest Adjustment (EPIA) will apply. Find out more about EPIA.

Interest only repayments are subject to credit approval. Before choosing an interest-only repayment option, it's important you understand the potential risks associated with this product feature. As the name suggests, interest-only repayments means you'll repay the interest charges but you are not required to repay the principal during the interest-only period. Since repayments to reduce the principal are not being made during the interest-only period, the full loan amount will still be due at the end of the interest-only period. You will pay more in interest than if you made principal and interest repayments.

Please note that the amounts displaying are indicative only and do not represent Suncorp Bank making an offer of credit or providing loan approval.

Calculator by Widget Works.

^##Home Package Plus Annual Fee

$375 annual package fee will be charged and reimbursed while package is active. Savings based on 30-year loan term. Offer subject to change.