Professional Package Loans

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Professional Package Loans

Professional Packages for loans come with a number of features, benefits and additional discounts on lenders products and services that are bundled up with one annual fee. The idea or reason to take up a loan package products is for the benefits and discounts that can range from 0.50% to 1.30% off the proposed lenders Standard Variable Rate and even 0.05& to 0.25% off the lenders’ fixed rate products. Now, these discount do vary on the loan size, so the larger the loan the large r the discount.

these discounts remain with the loan for the life of the loan as long as you remain with that lender. If you refinance away to another lender your discounts are canceled which are not trsportable.

The other benefits are Nil Application fee, no ongoing fees, nil loan switching fee, free redraw fees, and a few more depending on the lenders’ product package.

Who Are These Professional Packages Available For?

These products are not restricted to only Professional individuals alone, however, are available to everyone who needs to save money on multiple loans, complex loan structure and features or loans with large borrowing limits.

A professional package product may be best suited for loan amounts greater than in a range $250,000 to $350,000 as the benefits on a loan less than these amounts may be best suited with a basic no frill loan as the annual or monthly fee adds no saving benefit. The benefits of a professional package loan product are to bundle several lenders product and services into one fee to save with paying multiple fees which could add up costing more.

What Are The Annual Costs For A Professional Package?

The annual cost of a professional package loan can vary from $120 to $790 per annual, all depending on the lender and the required benefits that suit your loan structure. Some lenders offer unlimited loan accounts and some only offer one or two, therefore we suggest you have that talk with us at Neomoney to plan your current and long-term wealth structures and financial requirements.

What Lenders Offer Professional Package Loans?

+ ANZ Package called ~ Breakfree

+ CBA Package called ~ Mortgage Advantage or MAV

+ Citibank Package called ~ Mortgage Power

+ ING Package called ~ Orange Advantage

+ NAB Package called ~ Choice Package

+ St George Package called ~ Advantage Package

+ Suncorp Package called ~ Home Package Plus

+ Westpac Package called ~ Premier Advantage

+ Virgin Package called ~ Home Loan Companion

+ Plus many other lender packages available.

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Professional Package Loan Info ~ Knowledge is Power

For First Home Buyer, Refinancers or Investors who are looking to link a number of products to minimise fees and costs, receive special rate discounts and have a simple fee structure under one package.

Establishment Fee

No Home Loan or Investment Loan Establishment Fee

Ongoing Fee

No ongoing loan maintenance or service fees

Off-Set Account

These Packages come with an Off-Set account with either a 100% off-set or partial off-set.

Off-Set Account

These Packages come with an Off-Set account with either a 100% off-set or partial off-set.

Discount Rates

Discount Rates can be approved based on the loan limits.

Product Switch Fee

A few lenders offer no switching fee if you decide to switch loan products over the life of your loan.

Credit Card Fee

Lenders offer to have your credit card linked to the package which they waive the annual fee.

Insurance Products

For lenders who have insurance, these lenders offer discounts if linked to the package.