We’ve made the decision to stop supporting certain home loan products. We recently sent you a letter to let you know that you hold a loan, which will be impacted from 15 October 2026. If you haven’t received the letter, please contact us.
What’s happening?
We’re simplifying our home loan range, and that means some changes for you.
If you’re an existing home loan customer and you currently hold a home loan that will no longer be supported, it will be impacted from 15 October 2026.
We know this is a significant change, and we’re here to help. We’ve provided information to help you understand the impact on you and what steps to take.
What does this mean for you?
We recently sent you a letter to let you know which of your home loan(s) are affected by this change. The information on this page only relates to the home loan specified in the letter – it does not impact any other loans you may have.
If you consent to close your home loan, Suncorp Bank will:
- calculate the write-off amount as at a date between 1 October 2026 and 15 October 2026; and
- reduce the balance owing of your home loan to $0 (including accrued interest and fees) and then close your home loan. Your balance owing is the total amount you owe on your home loan, including any accrued interest and fees, less any available funds such as redraw, advance funds or cashback.
If you have given a mortgage over a property that only secures the impacted loan, Suncorp Bank will release the mortgage once your home loan closure has been finalised. If your mortgage also secures another loan that is not being finalised, that security will not be impacted by this change and the mortgage will stay in place.
Please note that Online Cashback is currently suspended. If you would like to discuss your advance funds, please contact us.
Please note that late repayments are automatically reflected on your comprehensive credit report. Even if you consent to finalise and close your home loan, please continue to make your minimum monthly repayments until we have confirmed to you that the loan has been fully closed. You will receive a final statement after the home loan closure has been finalised.
Timeline of changes to existing Home Loans
What you need to do
On or before 31 August 2026, please sign the form enclosed with your letter to authorise the write off and closure of your home loan. All borrowers (and guarantors if applicable) on the loan will need to sign. You can sign and send a scanned copy of the form to: home.loan.communications@suncorpbank.com.au; alternatively, please return to your closest branch or post to Loans Maintenance IPC RE027 GPO Box 2432 Brisbane, Qld, 4001
Please note that late repayments are automatically reflected on your comprehensive credit report. Even if you consent to finalise and close your home loan, please continue to make your minimum monthly repayments until we have confirmed to you that the loan has been fully closed. You will receive a final statement after the home loan closure has been finalised.
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Frequently Asked Questions
What’s changing with my home loan?
We’ve made the decision to stop supporting specific home loan products for all customers. These products will be impacted from 15 October 2026.
How do I agree to write off and close my home loan?
On or before 31 August 2026, please sign the form enclosed with your letter to authorise the write off and closure of your home loan. All borrowers (and guarantors if applicable) on the loan will need to sign. You can sign and send a scanned copy of the form to: home.loan.communications@suncorpbank.com.au; alternatively, please return to your closest branch or post to Loans Maintenance IPC RE027 GPO Box 2432 Brisbane, Qld, 4001.
I haven’t received a letter, or I’ve lost my consent form, what should I do?
Please contact us so we can help.
You can:
- request a call back using the Home Loan Experts online form;
- call us on 13 11 75 (select option 2 for Home Loans and Existing Personal Loans, then option 1 for Existing Home Loan); or
- visit your local branch.
If I agree to close my home loan, what will happen?
We’ll finalise and close the home loan between 1 to 15 of October 2026. Suncorp Bank will waive the usual $350 Loan finalisation fee. If you have given a mortgage over a property that solely secures the impacted home loan, Suncorp Bank will release the mortgage once your home loan closure has been finalised. If the mortgage over the property also secures another loan that is not being finalised, that security will not be impacted by this change.
I don’t want to close my home loan, what should I do?
Please contact us to discuss your options.
You can:
- request a call back using the Home Loan Experts online form;
- call us on 13 11 75 (select option 2 for Home Loans and Existing Personal Loans, then option 1 for Existing Home Loan); or
- visit your local branch.
What happens to my cashback, redraw or advance funds if my home loan is being closed?
If you consent to close your home loan, any cashback, redraw or advance funds will be applied to your loan balance as part of the loan closure process. Please contact us if you would like to discuss this process.
What happens to my offset account if it’s linked to my home loan?
If you have a linked offset account and your home loan is closed, your offset account will be unlinked and automatically switched to credit interest mode. This means you’ll earn credit interest on any eligible balance in your Everyday Options Account and linked Sub Account/s. For more information, please see the Product Information Document for Personal Deposit Accounts or contact us.
If you would like to link your Everyday Options Account to a different eligible Suncorp Bank home loan, please contact us.
Should I continue to make my minimum monthly repayments?
Yes, even if you choose to write off and close your home loan, please continue to make your minimum monthly repayments until we’ve confirmed to you that your loan has been fully closed.
You will receive a final statement after the home loan closure has been finalised.
Please note that late repayments are automatically reflected on your comprehensive credit report.
What should I do if I have direct debits/recurring payments from my home loan?
If you consent to close your home loan, you should update recurring or scheduled payments once your loan has been confirmed as closed. Suncorp Bank Direct Debits will be automatically cancelled when the loan is closed.
Will there be any fees associated with writing off and closing my home loan?
Suncorp Bank will waive any associated fees related to the write off or closure of your discontinued home loan.
Will this change to my home loan have any impact on my credit rating?
When a home loan is fully paid off, the lender will report the account as “closed” and “paid in full” to credit reporting bureaus.
I’m a guarantor, what happens to my personal guarantee once the loan is closed?
Once the loan is fully repaid and formally closed, your personal guarantee comes to an end. This means you are no longer responsible for the borrower’s debt in relation to the closed loan.
What happens to any property I provided as security or security for a guarantee?
If you provided a mortgage over property as security, it will be released once the loan is closed—provided it is not also being used as security for any other loans that are still active. If the mortgage also secures another loan that isn’t being finalised, that security will not be impacted by this change.
We’re here to help
Contact us
Things you should know
Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722) (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of these changes for each product can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
