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Types of Home Loans: Packaged

A packaged loan generally refers to the various features ‘packaged’ into one loan; and is often referred to as a “Professional Package” loan. This type of home loan generally provides all the flexibility and features you could want in a home loan, for an annual fee. Most of the home loans I facilitate come under a “Professional Package” because of the various benefits:

  • One or more 100% transactional offset account.
  • The ability to split the loan.
  • A discount off the SVR.
  • A discount off the fixed rate.
  • No fees on a Credit Card of your choice.
Types of home loans

Packaged Home Loan FAQ:

What's included in the 'package'?

In almost all cases: you'll get custom 'package' pricing + an offset account + the ability to split your loan. Some lenders also include a credit card and discounts on insurance.

Can I get more than one offset account?

Most lenders allow one offset account per loan. There are a few lenders who will allow up to 10 offset accounts. Please discuss with me if this is needed.

What is a 'split loan'

A split loan is a loan which contains part variable & part fixed.

What is the annual fee?

The majority of banks charge $395 p.a. - however some charge $250 or so.

Do I get redraw?

Assuming it's variable, then yes.