Suncorp Bank Closes to New Mortgages from 7 October
Suncorp Bank stops taking new home loan applications from brokers and its own channels from 7 October as ANZ completes its takeover.
If you are mid-way through a mortgage application with Suncorp Bank — or planning one — time is short. The regional lender will stop accepting new mortgage applications from both broker and proprietary channels from Wednesday, 7 October 2026, MPA Australia reports, as parent company ANZ accelerates the brand's full integration.
For existing Suncorp customers, the bank has indicated it will contact you directly with information about changes and the support available. But for anyone relying on Suncorp's broker channel to settle a home loan in the coming weeks, this is a significant development requiring immediate action.
How We Got Here: The ANZ–Suncorp Acquisition
ANZ first agreed to acquire Suncorp Bank in July 2022, but the path to completion was far from straightforward. The Australian Competition and Consumer Commission blocked the deal in 2023 on competition grounds. The Australian Competition Tribunal overturned that decision in February 2024, and ANZ completed the acquisition at the end of July 2024, bringing roughly 3,000 Suncorp Bank staff and approximately 1.2 million customers into the ANZ Group.
ANZ licensed the Suncorp brand for an initial five to seven years at acquisition, describing the early integration as a smooth transition for broker partners. That position changed substantially under ANZ chief executive Nuno Matos, who pushed forward the migration timeline and brought the ANZ Plus digital platform to all eight million ANZ retail customers — three years ahead of the original schedule — as part of a broader 2030 strategy to simplify the group and cut operating costs.
Last month, Suncorp Bank announced it will retire its brand entirely in 2027. ANZ managing director Queensland and Suncorp Bank chief executive Bruce Rush said at the time: "As Suncorp Bank becomes ANZ over time, we'll keep our same focus on our customers. We are committed to making this move straightforward, safe and well-supported, and ensuring customers still see familiar faces and continue to be part of a bank that helps communities thrive."
Rush also said that as customers join ANZ, they will "have access to a larger network of banking specialists and branches, leading anti-fraud technology, specialist expertise and investments in the communities we serve."
What This Means If You Have a Suncorp Loan — Or Were Planning One
For borrowers currently in the process of applying for a Suncorp mortgage through a broker, the 7 October cutoff is the end of that pipeline. Applications submitted after that date will not be accepted.
If you are an existing Suncorp mortgage customer, this change does not affect your current loan. Your mortgage will continue to be serviced, and Suncorp has committed to contacting customers directly as the brand transitions to ANZ in 2027. In practice, most customers will gradually find themselves dealing with ANZ products, processes and branding.
For borrowers who were specifically choosing Suncorp for rate competitiveness or service, the competitive landscape has now narrowed. Suncorp has historically been a significant regional presence in Queensland in particular, and its closure to new lending through the broker channel reduces the choice available through that market.
It is worth noting that broker market share of new home loans reached a record 81.6% in the June 2026 quarter, according to Mortgage & Finance Association of Australia data. That scale means brokers have direct access to the full range of lenders still actively writing new business — and replacing Suncorp with an equally competitive alternative is achievable with the right advice.
What to Do Right Now
If you have a Suncorp application in progress, speak with your broker immediately about whether it can be submitted before 7 October. Do not wait — the deadline is firm and the lender has not signalled any extension.
If you were planning to refinance to Suncorp, that option is now closed. Use our home loan refinance comparison to identify which lenders are currently competitive in the refinance market, or check today's cheapest home loan rates to see how other lenders compare on rate.
For investors, the loss of Suncorp as an active participant in the broker channel means one fewer competitive option in a market where every basis point matters. Use our borrowing power calculator to understand how your borrowing capacity compares across different lenders, and factor that into your pre-approval strategy. More detail on the current lending landscape is available on our investor home loans page.
For existing Suncorp customers who haven't yet heard from the bank directly: your loan terms remain unchanged for now, but understanding your full range of alternatives puts you in a stronger position when the migration is complete and product changes potentially follow. Speaking with an independent mortgage broker before that transition happens is a sensible precaution.