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Most banks offer a discounted rate to a variety of borrowers which is usually a set percentage off the standard variable rate or a line of credit. Only a few banks apply discounts to their fixed rate products.
To qualify for a professional package can vary from bank to bank, so do their tiers of discounts. The majority of lenders now base their criteria on the loan size. Discounts start at loans greater than $150,000 with a limited number of banks. For loans greater than $500,000 a discount of up to 0.7% may be applicable with some lenders.
These products are hard to beat if you qualify.
They provide you with a very competitive rate along with all the features most borrowers would look for today. This include Offset accounts, Redraw Facilities, etc… Thus, allowing for mortgage minimisation with a cheaper rate.
The main differences between Banks on a Pro-Pac are the ongoing fees, the level of discount and the 1 year guaranteed rate. This last feature is not available through many banks.
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| Take advantage of our free consultation services. We will come to your place of convenience whether being at home or office. | | | At RN Mortgage Zone, as an appreciation for all the support we received from our valued clients, we would like to take the opportunity to announce our special for this year. Nil application fee for all new home loans in 2007. This offer is available until further notice.
Thank you for your patronage. | | | | |
