Professional Home Loan Packages
A professional home package provides you with a range of discounts on bank accounts and lending products in exchange for an annual package fee. The amount of the discount offered by the lender is determined by the total size of the borrowings. The more you borrow the larger the discount offered. The size of the discount off the standard variable rate ranges up to 0.80% p.a. This discount applies for the life of the loan or until the professional package is canceled by you.
Usually the package requires the borrower to open a transaction account and credit cards with the lender. The professional home loan package also includes a range of discounts and special offerings as part of the professional home loan package.
Contact us today to see if this loan is right for you!
There is a misconception that the professional package is just for professionals!
This is not the case. In fact, the only requirement you need to access these loans is to meet the lender's minimum loan amount (which can start at $100,000).
Professional Home Loan Package- Advantages and Disadvantages
Advantages
- Interest rate discounts on the standard variable rate, line of credit products and fixed rates (with some lenders)
- You may be eligible for other benefits such as fee free transaction accounts
- Annual fee waived on some credit cards.
- Some lenders offer no establishment fees and no ongoing monthly fees on your loans.
- Discount on other services bank services such as home and contents insurance
Disadvantages
- An annual fee applies to this package.
- The annual fee may be greater than the interest discount received as the loan balance reduces.
Other Home Loans you may wish to consider or research:
Basic Home LoanLike to know more about the home loan process then review our Guide to Home Loans.
Line of Credit
Standard Variable Rate Home Loan
Fixed Rate Home Loan
Split Rate Home Loan
If you would like to discuss the Professional Home Loan Package or any other loan products please call us or complete the form below and we will contact you.
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