Powered by MOMENTUM MEDIA
subscribe to our newsletter

Suncorp reduces investor fixed rates

The bank has reduced the interest rate on some of its fixed rate loans due to “recent reductions to fixed rate funding costs”.

Suncorp announced today (12 September) that it has cut its Investment Home Package Plus two-year fixed rate by 0.20 per cent per annum (p.a.) and its three-year fixed rate by 30 per cent.

This adjustment brings both rates to 4.29 per cent p.a. (comparison 5.43 per cent p.a.) for new-to-bank mortgages of over $150,000 and with a loan-to-value ratio (LVR) of 90 per cent or less.

The bank said that the changes to its “two most popular fixed rate products for investors” were “a reflection of recent reductions to fixed rate funding costs”.

It also announced a range of special-offer discounts for new standard variable lending, including for its Bank to Basics variable, Home Package Plus and Home Package Plus for first home buyers.

Advertisement
Advertisement

PROMOTED CONTENT


Suncorp Banking & Wealth CEO David Carter said: “The rate changes and special offers are particularly timely as we head into what is traditionally a busier season for home buyers.”

The move follows on from fixed rate changes this week at other banks, such as ANZ, which reduced its two-year fixed residential investor loan (with an interest-only repayment scheme) by 10 basis points to 4.64 per cent p.a., while the same loan with an interest-in-advance repayment structure saw rates fall by 10 basis points (to 4.44 per cent p.a.).

[Related: ANZ hikes investor rates by 31bps]

Suncorp reduces investor fixed rates
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

A foreign bank has had its Australian banking licence revoked by APRA after it pulled out of the Australian market. ...

The average number of days properties spend on the realestate.com.au site fell to a record low in May, with records broken in many states a...

The big four bank has hired the former boss of AUSTRAC as the regulator has launched an investigation against NAB for potential anti-money...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.