The Southern Cross Credit Union Platinum Professional Package Loan features very low variable rates and fixed rates ranging from very low to moderately high depending on the term of the fixed rate period. Although this loan does have some low rates, there are fees associated with this home loan including moderate upfront fees, an average annual fee and average discharge fee at the end of the loan term. Fixed rate customers may also attract fees for early repayment.
While this loan does offer a 100 per cent offset account to variable rate customers and a redraw facility for all customers, both are subject to fees. Customers of the Southern Cross Credit Union Platinum Professional Package Loan have the flexibility to make both principal and interest or interest-only repayments. This loan is only available for new loan customers who are borrowing $200,000 or more.
With low variable and fixed rate options, this home loan is good for investors, first time home buyers, owner-occupiers and refinancers. The interest-only repayments are another feature that may sway investors.
The main attractive feature of this home loan is the low variable and fixed rates offered, though some of the fixed rates are relatively high, so it would be best to figure out the specifics of your home loan and find out if you would be offered a low rate. It’s also a good idea to see exactly what fees you will be charged for the type of loan you choose as the ongoing fees for some of the extra features of this loan like the 100 per cent offset account option and use of the redraw facility can add up.
Southern Cross Credit Union offers a variety of Platinum Professional Package Loan options. To find out more information about these options, click the links provided below.