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Suncorp & Citi still offers big mortgage discounts

09/02/2012

Bank discounts on standard variable rate mortgages have come down by around 20 basis points since the start of the year.

The joint head of lending at Centric Wealth, Sheyne Walsh, said the discounts on offer last year were the biggest he had seen in his career. “Going into December we were getting 100 basis points regularly and we got 110 points for one client.”

ANZ is offering a 90 point discount on its Breakfree package and Macquarie Bank is discounting 91 points on its Premium package.

Suncorp is taking 103 basis points off the advertised rate for borrowers who take its My Home Package, and Citibank is discounting 107 basis points on its Mortgage Plus package.

Source: Banking Day



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