Professional Package Product

Most banks offer a discounted rate to a variety of borrowers. This discount is usually a set percentage off the standard variable rate or a line of credit, with just a few banks offering discount to their fixed rate products.

The criteria for qualifying for a professional package varies form bank to bank, as do their tiers of discounts. The majority of lenders now base their criteria on the size of your loan - with discounts starting for loans greater than $150,000 with a limited number of banks. For loans greater than $500,000 most lenders will now discount their standard variable rate products by 0.5%.

Professional rate products are hard to beat if you qualify. They provide you with a very competitive rate along with all the features most borrowers are wanting today. Offset accounts are available on all Pro - Pac loans allowing for mortgage minimisation at a cheaper rate than normal.

The primary differences from Bank to Bank on a Pro-Pac are the ongoing fee they will charge for the facility, the level of discount available and whether they will allow you to have a one year discount product rolling straight to the discounted standard variable. This last feature is not available through many banks.

Simply complete the brief realestate.com.au Home Loans online application form and one of our mortgage consultants will be in contact with you to discuss your home loan options.