Premium Pack is a pure set rate, low rate loan from CommunityBE$T that doesn’t discriminate.

Why do the majority of lenders, only offer the major discounts to borrowers requiring large loan amounts?

Have you heard the lending expressions,

• Professional Mortgage Benefit
• Pro-Pack
• Rewards Package
• Platinum Rewards.

All of these expressions relate to interest rate discounts or mortgage benefits only on offer to borrowers with large loan amounts, generally greater than $250,000 - $300,000
The interest rate discounts can range from 0.50% - 0.70% and the mortgage benefits usually consist of things like fee free banking accounts, low rate credit cards, reduced premium insurances etc.

Let’s look at an example.

The effective loan interest rate that Willie will pay after allowing for the discount and the annual Package Fee, is approximately 7.94% 

Well that’s great for Willie, and good luck to Willie for being able to receive those benefits.

But what about Lynne, who only wants to borrow a small amount of money i.e. a loan less than $250,000?

Let’s look at what happens to Lynne.
The bank standard variable rate is 8.57% and Lynne wishes to refinance her existing loan of $210,000. Does the bank offer Lynne the Rewards Package? No, they do not.
Because the loan amount is less than $250,000 she does not qualify for the Rewards Package and will not receive an interest rate discount.
Lynne decides to try another bank and after much haggling she is offered a Professional Mortgage Package entitling her to an interest rate discount of 0.60% provided she pays an annual Package Fee of $250.00  
The effective loan interest rate that Lynne will pay after allowing for the discount and the annual Package Fee, is approximately 8.09% 

On her second attempt Lynne has done reasonably well, but because she only requires a small loan amount i.e. less than $250,000 she is still treated as “small fish” and will not receive as greater benefit as that of Willie.

Shouldn’t Lynne be treated just the same?
Shouldn’t all customers be treated equal?

The Premium Pack from CommunityBE$T is a pure set rate discounted loan that does not discriminate and offers the one low rate regardless of the loan size.

Let’s look at how the CommunityBE$T Premium Pack* compares.
Jake and Karen wish to refinance their existing loan of $185,000 and have been referred to CommunityBE$T by their Financial Advisor. After considering various loan options they decide that the Premium Pack suits their needs best. They will not receive an interest rate discount off a standard variable rate or be required to pay an annual Package Fee as the Premium Pack is a pure set low rate loan. 
The effective loan interest rate that Jake and Karen will pay after taking into account the set discount rate and nil annual Package Fee, is approximately 7.99%  

‘Premium Pack’ - Just another great value home loan package from CommunityBE$T!

Don’t be discriminated against or get treated like little fish just because you only need to borrow a small loan amount. All customers are of the same importance and should be treated so.

To book an appointment with a Mobile Lending Strategist, simply phone the Finance Centre on (02) 4633 8700 or email us and we will contact you.

Alternatively, you can submit your details for pre-application assessment by completing our 10 minute Online Application

* Subject to application and approval. Terms, conditions and eligibility criteria apply. Fees and charges may be payable.
*The information provided above does not take into account your personal circumstances and is provided as a guide only. You should consider the appropriateness of the information having regard to your objectives, financial situation and needs. You should obtain independent advice at all times.