Home News Professional packs

Professional packs

Font size :
Beware Deferred Establishment Fees
Borrowers often confuse multiple loans under one package, such as a professional package, as being treated as a single loan because they get the same rate discount and one annual or monthly fee takes care of everything. However, lenders don’t make the same mistake. Most loans covered by a package are subject to a per loan deferred establishment fee (DEF), so even though it is one-package-one-fee for some things, if you have two loans that you want to break, you may be stung for two DEFs
 
Did you know?
The discount you get with a pro pack can be improved by as much as 30% if you arrange your loan with a mortgage broker who rebates their ongoing commission to you.
 
Tip for pro pack users
If you are a predominantly fixed-rate, pro pack borrower, you should take a look at St.George, Commbank and Westpac, which discount their fixed rates as well as their variable rate loans. This discount tends to be 0.15–0.20% pa regardless of
the loan amount.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers

Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

More mortgage news and articles

Sponsored Links

Monday, Jul 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords