Our loan writer, Brendan Vassallo, demystifies what you get with packaged loans and the benefits they can bring:
With so many loan products available, how do you know which type of product is best for you? Is cheap and cheerful the way to go, or is a packaged loan (with all the bells and whistles) better?
We’ve found that the benefits associated with home loan packages greatly outweigh the relatively minor costs associated with them.
By paying one annual fee (generally about $395/year), loan packages enable you to obtain the following benefits:
In other words, the savings you have in an offset account will be earning interest at the same rate as you pay your mortgage. Not a bad deal!
For the reasons noted above, we tend to recommend packaged loan products where they are available.If you would like to find out which loan and lender best suits you, call us on (Finance) 1300 905 680 or