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Suncorp warns of repayment changes as loans move to ANZ
Suncorp Bank has warned that some borrowers could face significant increases in minimum repayments as their loans transition to ANZ, particularly customers who have paid ahead on principal and interest loans or hold funds in cashback redraw.
Interest rates at the time of migration will remain unchanged, although future variable rates and margins may change under existing loan terms. Other changes include limits on offset accounts, a 24-month construction completion deadline and the removal of redraw access for company-name home loans.
The migration is expected to be completed by June 2027. Eligible brokers will continue to receive trail commission on existing loans.
Westpac removes insurance discount for new Premier Advantage Package clients
Westpac will remove the Home and Landlord Insurance discount of up to 10 per cent for new Premier Advantage Package clients from 6 December 2026.
Existing clients will retain the benefit if their package was opened before that date, or if their loan offer for a new packaged loan was dated before 6 December.
Other package benefits will remain unchanged, including home loan interest rate discounts, no lending establishment or ongoing loan account fees, and card fee savings with an eligible credit card.
Queensland Country Bank joins Help to Buy scheme
Queensland Country Bank has joined the federal government’s Help to Buy scheme, becoming the fourth lender on the panel and expanding access for eligible buyers across regional and rural Queensland.
The bank will offer the scheme through its retail and broker channels from 6 October. Eligible buyers can purchase with a minimum 2 per cent deposit, with the government contributing up to 40 per cent of the purchase price for a new home or 30 per cent for an existing home, with no LMI payable.
Queensland Country Bank joins the Commonwealth Bank of Australia, Bank Australia, and Teachers Mutual Bank on the lender panel.
TMB rolls out Help to Buy through broker channel
Teachers Mutual Bank has begun rolling out the federal government’s Help to Buy scheme through its broker channel, with the first cohort of trained brokers now able to submit applications.
The initial group has completed training to support eligible customers accessing the shared equity scheme, which requires a minimum 2 per cent deposit and provides a government contribution of up to 30 per cent for existing homes or 40 per cent for new homes.
A second cohort of brokers is expected to be onboarded by the end of October, with broader broker access planned throughout 2027.
Aware of a product or policy update that brokers should know about? Leave it in the comments below.
See last week’s policy changes here.
[Related: Four 2026 rate hikes deal $90k blow to borrowing capacity]
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