Cheapest Home Loan Packages
GOLD WINNERS BANK BANK OF SYDNEY NON-BANK AUSTRALIAN UNITY If you’re an owner-occupier, good things come in cheap packages
When a bank wins an award for the second consecutive year it’s obviously doing something right, and that’s certainly the case with Bank of
Sydney’s Expect More variable PAYG package for owner-occupiers, which also took out the top spot in the 2017 awards.
The package includes a 100% offset account, zero annual fees on a Bank of Sydney credit card (the bank is currently in the process of switching from Visa to Mastercard) and fee-free redraw. Up to $400 in lender’s legal fees and $330 in valuation fees are covered by the bank.
The real hero of the Expect More package is the rate discount. At the time of writing, a variable rate of 3.63% applies for borrowers with a 20% deposit. That’s a discount of 2.01% on Bank of Sydney’s standard variable rate of 5.64%. Home buyers with a deposit between 10% and 20% enjoy a rate discount of 1.65% (lenders mortgage insur- ance applies).
Borrowers with a 30% deposit can access a limited-time offer. Get your application in by the end of December 2017 and have the loan settled by the end of February 2018, and Bank of Sydney will waive the $395 fee for the life of the loan.
Conditions apply to the Expect More package. Repayments are limited to principal and interest, and the package is only available to PAYG employees who have been in the same line of work for a minimum of 12 months, and only in Sydney, Melbourne and Adelaide metro postcodes. Restrictions apply for Queensland properties. Australian Unity’s Kickstarter packs in a lot of extras. There’s a 0.75% discount on the standard variable rate of 4.76% for the life of the loan, and a further 0.29% for a limited time, bringing the total discount to 1.04%. Save up to $49 on the annual fee for either a cash rewards or low-rate credit card, get a $100 credit towards Allianz home and contents cover, and save $109 on Australian Unity health insurance. An establishment fee of $600 applies.