For property investors, Suncorp Bank’s Property Package Plus gives a 5-star answer. We caught up with Craig Fenwick, Suncorp Bank Executive Manager Customer Lending Merchandise, for some insights into how buyers are making use of their package loans.
“There are a quantity of rewards for customers picking a package item,” says Mr Fenwick. “Over the past handful of months, Suncorp Bank’s House Package Plus solution has received a quantity of industry awards in recognition of the outstanding worth it represents for consumers. In addition to client convenience, a competitive offering and credit card reward points, the item offers fee discounts on residence loans and other banking, insurance and wealth merchandise when bundled in their package. This could contain no upfront or month-to-month account maintaining costs on personal loans, discounted property and contents insurance and unlimited mortgage offset and renegotiation charges.”
In dollar terms, the possible savings for package loan clients are true. The CANSTAR Package Residence Loan Star Ratings Report outlines typical annual savings for package clients who take advantage of the range of products obtainable. The potential annual savings range from around $ 640 per year for those with a $ 150,000 residence loan to about $ 3,370 per year for these with a loan quantity of $ 500,000.
The crucial to the savings, of course, is in taking advantage of the discounts accessible. According to Mr Fenwick, many customers are undoubtedly switched on in this regard.
“We have a number of clients who bring across their day-to-day banking accounts, credit cards and other insurance coverage merchandise and bundle them with their property loan package,” he says. “Additionally, many of our property package plus clients take advantage of the property and motor insurance discounts connected with the item.”
Suncorp Bank’s Residence Package Plus solution awards customers the flexibility to choose a fixed or variable house loan rate, based on the customer’s person wants and circumstances. According to Mr Fenwick, the previous 12 months has seen a proportional shift amongst the demand for fixed and variable residence loans. “The demand for variable house loans has increased substantially, which has been consistent with market place trends,” he says. “In saying that, fixed residence loans continue to be crucial to numerous consumers.”
At the finish of the day, it is about having the flexibility and option – a definite package advantage that cannot be reduced to a dollar quantity.
Package up some items to save
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