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Suncorp have arrived at the station.....27 bps

Discussion in 'Property Finance' started by Jamie Moore, 3rd Aug, 2015.

  1. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,141
    Location:
    Canberra and Sydney
    Suncorp Bank is committed to responsible lending practices. In line with regulatory requirements to moderate investor home loan growth, we are increasing the interest rate on existing and new variable rate investor loans, as at Monday, 31 August 2015. Details below.

    Investment Mortgage Loans

    From

    To

    Investment Back to Basics Variable Rate

    4.96% p.a.

    5.23% p.a.

    Investment Standard Variable Rate

    5.54% p.a.

    5.81% p.a.

    Access Equity Variable Reference Rate

    5.79% p.a.

    5.81% p.a.

    Asset Line Variable Reference Rate

    5.79% p.a.

    5.81% p.a.

    Professional Asset Line Variable Reference Rate

    5.79% p.a.

    5.81% p.a.

    Owner Occupied lending will not be effected and we will continue to offer highly competitive lending solutions to our broker partners.
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,094
    Location:
    Melbourne, Nationwide
    Pretty much in line with what everyone else has done.

    That pretty much leaves Adelaide bank, a couple of smaller lenders and those outside of APRA to make their moves. ASIC will come down on those who avoid the APRA culling.
     
  3. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,254
    Location:
    Sydney
    So it looks like we should just get proper equity loans (instead of Standard variable rates with interest only) with this change
     
  4. Mick C

    Mick C Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    206
    Location:
    Sydney

    Not really..if it's for "Rate" reasons...you still need to include the "Standard discount on offer"....the Standard discount on IP is gonna be higher than a LOC/equity loan in most cases.

    Unless your happy with 5.81% :)
     
  5. Till Kingdom Come

    Till Kingdom Come Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    129
    Location:
    Aussie Aussie Aussie Oi Oi Oi
    ... and Suncorpse's fellow Queenslander - BOQ - has done a hiker