Non-major boosts commissions, trims rates and waives fees for spring sale frenzy

by Julia Corderoy07 Oct 2014
Suncorp Bank has trimmed its variable rate, waived annual fees and increased upfront commission to support brokers during their busiest time of year. 

The non-major has announced a discounted rate of 4.69% on standard variable loans in its Home Package Plus product. The lender has also waived the annual Home Package Plus fee (currently $375 p.a.) for new lending. 

Suncorp Bank’s head of intermediaries, Steven Degetto, said the move was aimed at demonstrating its commitment to being a genuine alternative for brokers. 

“Establishing strong relationships with our broker partners and achieving financial solutions for our customers has always been a priority for us as we continue to look for new ways to deliver a competitive product with exceptional service,” he said.

Suncorp is also giving brokers an upfront commission bonus of 0.15%, taking the total upfront commission to 0.80%. This is effective for applications received from 1 October 2014 to 12 December 2014 and settled by 12 March 2015.

“We know that the next three months is when brokers have one of their busiest times of the year and we want to give them a compelling offer to present to their customers,” Degetto said.

In the past year, the bank has also introduced its “service guarantee” promising 48 hours until initial assessment or $500 paid to the customer and appointed 11 new people to provide additional support to brokers at a state level.