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Suncorp Refinance - $3,000 Cashback, $0 Annual Fee for Life of Loan, Minimum Loan $750,000 - Fixed 2 Years 1.89% (2.85% CR)

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Bank of the Year 2021, Suncorp, just announced to brokers;

$3,000 Home Loan Refinance Offer^
Effective Monday 26 July 2021, Suncorp will offer customers a $3,000 refinance incentive if they switch to Suncorp for loans of $750,000 or more.

Offer Details
• Available for refinance applications (from another lender), with the minimum refinance amount of $750,000.
• Effective for applications received by Suncorp Bank between Monday 26 July 2021 until 31 August 2021.
• Settle by 30 November 2021

Offer Conditions
• LVR including Lenders Mortgage Insurance where applicable, is less than or equal to 90%
• Investment & Owner-Occupied loans
• Principal & Interest, and Interest Only repayments
• All home loan products: Standard Variable, Fixed Rate & Back to Basics Variable
• Its available in conjunction with our existing Home Package Plus Annual Fee Refund Offer
• Minimum amount must be refinanced from another lender for equal to or greater than $750,000.

Rates highlight;

  • 2 years fixed 1.89% comp. 2.85%
  • Standard variable with offset 2.54%/ comp. 2.96%

*See comparison below as these are based on $150k loans. I can calculate your actual comparison rate.

I know this won't appeal to everyone, however I don't offer broker cashbacks as I prefer quality service over mass volume. There are brokers on OzB that do offer cashbacks.

36 happy OzBargain refinances to date and have enjoyed 100% approval rate.

Hope you find this useful,
Aidan
Owner & Mortgage Broker
[email protected]
www.blueowlfinance.com.au
0412378146
Link to my calendar - https://www.blueowlfinance.com.au/bookings-checkout/consulta...

ABN 27 646 433 374 | Certified MFAA Member 230928 | Australian Credit Licence number 384704 | Credit Representative’s number 527699

COMPARISON RATE WARNING:

Each comparison rate is based on $150,000 over 25 years. These comparison rates apply 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.

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closed Comments

  • +1 vote

    Wow. That's a lot of debt to be in!

    • +6 votes

      You're obviously not in Sydney!! :D

    •  

      750k is spare change in Sydney…. if your debt is less than 750k… you're probably not even in Sydney

      • +1 vote

        No, thank goodness I'm not in Sydney lol

  •  

    Any offers for loans less than $750,000?

    •  

      @bhakharvadi Yep, lots! I have PM'd you.
      For the benefit of everyone else, there's a few other $3k offers out there which I have access to.

  •  

    Happy to answer any policy / general questions out there!

  •  

    Do you need LMI for LVR of 90%?

    •  

      With Suncorp yes. I only know of one lender doing 90% no LMI (unless accountant, lawyer, FHLDS, etc.) and rates a little higher.

      •  

        Out of curiosity, what would be requirements for a lawyer?

        •  

          $120k income.

  •  

    Can I refinance with this offer if I am already with Suncorp?

    •  

      @adamk287
      Afraid not! Lots of others offering $2-4k for refinances though.
      [email protected]

  •  

    Hi OP,

    What's the best Investor refinancing offer currently on the market?
    I'm currently on ~480K @ 2.94% variable loan, thinking about making a switch.

    Thanks!

    •  

      @CheckMateWin I'd look at Citibank here, $3,000 cashback, 2.19% fixed 2 years, free rate lock (important now rates are rising)
      [email protected]

  •  

    Any offers for refinance less then $750k?

  •  

    Is this available through the broker only?

    •  

      @macr0hard direct or broker.
      My turnaround is 1 day, I'm unsure how long the waitlist is if you call the bank direct to book an appointment.

      •  

        I don’t mind using a broker, but just in case i jump ship in less than 2 years

  • +1 vote

    Hey OP,

    Standard variable with offset 2.54%/ comp. 2.96% —> is there any type of fee for offset account ?
    And does this rate apply to loan amount $750K plus?

    •  

      @dajiska nope, no fees for offset.
      Actual comparison for $750k+ will be much lower as no annual fees.

      Also, happy to do a pricing request to see if we can get better than advertised rates.
      [email protected]

  •  

    got charged the $375 few a couple of days ago as an existing customer . i might give them a call and see if they will waive it. any existing customers have any luck?

    •  

      @coolsteps I wish you luck, but I wouldn't hold my breath in this case. Let us know how you go!

      •  

        i called today they said the hardship team that can waive the fee had gone home and to call again tomorrow. i don't know if its worth it if they report it on my credit file? i hope to apply for another home loan towards the end of the year. they said the $0 Annual Fee for Life minimum loan is $150k and i could get it applied to existing loans if i took out a new loan and made a variant to the existing ones. i dont think they will lend me more than 500k, so op for the cash back is it a bare minimum a loan of $750,000 required?

        •  

          @coolsteps yes minimum $750k.

          Other lenders doing 1.89%, $0 annual fee for life, $0 application fee and $3,000 cash back for loans over $250k.

          Aidan
          [email protected]

  •  

    Can you get Annual Fee for Life of Loan for new loans?