6:30 am, April 7, 2021
3 minutes to read
A non-major bank said it would waive the annual flat fee for new customers who transfer their owner-occupied or investor-occupied mortgage to the bank.
Suncorp Bank has announced that it will waive its annual fee of $ 375 for mortgages with a home loan valued at $ 250,000 or more (and a loan-to-value ratio of 90% or less, including mortgage insurance from the lender) who transfer their mortgage. at Suncorp.
According to the bank, the move could save customers up to $ 11,250 over the life of the loan (based on a 30-year loan term).
The offer is available on homeowner and investor loans with principal and interest, interest only or fixed repayments.
It is only available to new customers of the Suncorp Home Plus package.
The movement comes as refiners flock to the market to take advantage of historically low interest rates and steadily rising house prices.
Dylan Atherton, Head of Mortgage Lending Products at Suncorp, said, “We want customers to experience Suncorp Spirit throughout the life of their loan, which is why we have launched a refinancing offering that offers continuous benefits every year.
“This offer will reduce the associated ongoing home loan costs and allow customers to get money back in their pocket to pay bills, groceries or to increase their annual holiday savings account,” said Mr. Atherton.
He concluded: “Australians are looking for ways to save money every year, and this new offering, coupled with our competitive rates, will bring continued savings to customers,” Atherton concluded, highlighting the fixed rate of 1.89% of the bank over two years. loan offer.
[Related: The Refinance Rush]