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28 April 2022

Welcome to another issue of the latest news and tips for brokers, from Queensland Country Bank. If you have any questions or suggestions, we'd love to hear from you. 

Current home loan offers

• Same great rate for both owner-occupied and residential investment loans.
• Mortgage offset and redraw facility for owner-occupied.
• View full details.

Rate lock now available

To protect applicants from potential rising interest rates, we now have the option to rate lock to secure the fixed rate discussed at application.

• Rate lock incurs a flat fee of $350, payable on loan settlement. We will include the fee into our loan contract so there's no need for upfront payment. 
• Rate lock is only available for new lending and valid for 90 days.
• Rate lock will cover both AIP and formal approvals.
• All brokers must have a Rate Lock Declaration form completed and signed.

We continually update queenslandcountry.bank/broker with resources  for your applications. Please ensure you always access our calculators, tools and key information direct from the website, rather than saving copies on your computer. This ensures you are always using the most current information. 

Recent updated tools include:

• Loan Affordability Calculator
• Guide to Acceptable Income
• Guide to Minimum Supporting Documents

Queensland Country Bank have also improved and refreshed our suite of calculators available publicly on the website. These can be accessed at queenslandcountry.bank/calculators.

Processing times

We're working as quickly as possible to process your applications. At present, please expect the following processing times: 

• Applications: up to two business days for pick up, with review and assessment to then commence
• Credit assessing: up to four business days (+ LMI assessment times)
• Mortgage prep: up to two business days

Lending to over 50s

An Exit Strategy is required for any applicants who are older than 50 and seeking a loan term greater than 20 years.

Witnessing documents

To meet our compliance requirements, brokers are unable to witness loan contracts or mortgage documents for their submitted applications. Please ensure these are witnessed by a solicitor or non-related party.

Latest news

More competitive rates

Get in touch

Please contact your Relationship Manager directly or email brokersupport@queenslandcountry.bank.

All interest rates quoted are per annum and rates are subject to change without notice. Special offers may be withdrawn at any time before a loan contract is entered into.

Must read information:

¹Special Variable Package Rate (<80%)

Limited time variable rate offer available under our Ultimate Home Loan Package for principal and interest loans with borrowings of at least $100,000. 80% maximum loan to value ratio for owner-occupied and investment loans. Not available for restructure of existing Queensland Country loan facilities. Rate includes a 2.10% discount off the principal and interest Standard Variable Rate for the life of the loan. Comparison rate calculated on a secured loan of $150,000 over a 25 year term based on monthly repayments. 

²Special Variable Package Rate (>80%)

Limited time variable rate offer available under our Ultimate Home Loan Package for principal and interest loans with borrowings of at least $100,000. Maximum loan to value ratio for owner-occupied home loans is 95% and 90% for investment home loans. Not available for restructure of existing Queensland Country loan facilities. Rate includes a 1.90%p.a. discount off the principal and interest Standard Variable Rate for the life of the loan. Comparison rate calculated on a secured loan of $150,000 over a 25 year term based on monthly repayments. 

³Green Car Loan

Comparison rate calculated on a secured loan of $30,000 over a 5 year term based on monthly repayments.

⁴Reno Loan

Comparison rate calculated on an unsecured loan of $30,000 over a 5 year term based on monthly repayments.

^WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. A comparison rate schedule is available at any Queensland Country Bank branch.

Fees and charges are payable. Normal lending criteria, terms and conditions apply and are available on request.

Information contained in this newsletter is general only and does not take into account personal objectives, financial situation or needs. When considering any Queensland Country financial product or service mentioned in this newsletter you should obtain the relevant Product Disclosure Statement, Target Market Determination, Product Information Brochure, Terms and Conditions and Fees & Charges Brochure, which are available online or from any or our branches. We encourage you to seek your own advice before deciding if a product is right for you.

You are receiving this email because you are a valued broker for Queensland Country Bank Limited.

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Queensland Country Bank
Queensland Country Centre 
333 Ross River Road 
Aitkenvale, Qld 4814 Australia

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