Packaged Home Loans

A Packaged Home Loan, also known as a Professional Package Home Loan, combines your home loan with your regular bank accounts and credit cards for an annual fee.

These packages are now available to a wide variety of borrowers with sufficient income or aggregate loan size.

• Professional Packages generally offer discounts of between one and two percent under the usual interest rate.  

• Professional Packages also offers a range of other discounts on accounts such as credit cards, transaction, margin loans and insurance.

Pros and Cons of Professional Packages (Packaged Home Loans)

Advantages of a Professional Package Home Loan include:

•    Fully featured account e.g. redraw, split loans, etc

•    Interest rate discounts on the standard variable rate

•    Other benefits such as fee free transaction accounts and discounts on insurance products

•    No establishment fees and no ongoing monthly fees on your loans (This feature is not available from all lenders)

Why would I not want a Professional Package Loan?

• An annual fee applies to this product

• I might not require all the extra features