How a St.George home loan could help you buy or refinance a home
St.George, a division of Westpac Banking Corporation, is part of one of Australia's largest banking groups. St.George delivers a wide range of home loan products, so if you are a home buyer searching for a specific type of mortgage, you have a good chance of finding a St.George home loan which will suit your particular needs.
$1,500 rebate when you switch over to the St.George Advantage Package
If you're a refinancing owner occupier and apply for the St.George Advantage with fixed or variable rate home loan, St.George will give you $1,500 cashback to help you with the costs of switching.
Your loan must be over $100,000 and be refinanced from any lender except St.George, Westpac, BankSA, Bank of Melbourne and RAMS.
For a limited time you can also save 0.90% p.a. off standard variable rate Advantage Package home loans above $750,000.
Types of St.George home loans available
Some of the most popular St.George home loan products are outlined here:
- Advantage package. The Advantage Package is a package deal home loan which offers special package discounts on your mortgage interest rates and savings on other home loan, credit card and transaction account fees and charges. It is well-suited to first home buyers, property investors and those looking to refinance.
- Standard variable rate. St.George's Standard Variable Rate home loan has features such as a linked 100% offset savings account so you can save on home loan interest just by using your offset account as your regular transaction and savings account. The loan also offers a redraw facility, allowing you to access any additional repayments you need in case of an emergency expense (subject to approval). The loan also boasts flexible repayment options to match your pay cycle.
- Fixed rate home loan. This home loan allows you to choose a fixed interest rate for a period from one to five years, helping you to budget ahead with the confidence that your home loan repayments won't change during the fixed period.
- Portfolio loan. This flexible line of credit home loan combines your own finances as well as your investment finances into the one facility. You can apply to borrow up to 90% of your property's value (subject to approval) in order to release funds for other investments, such as shares, investment properties or a new car. You are only charged interest on what you have used. You can even deposit your entire income directly into your portfolio home loan to offset interest charges.
- Basic home loan. This basic, no-frills home loan carries a very low variable interest rate and has no ongoing monthly fees. It also has flexible repayment options.
What if I'm self employed?
There are three low doc options offered by St.George home loans if you are self employed, a contract worker, or for any other reason can't prove your income in the standard way:
- Low Doc variable rate. This is a variable interest rate home loan with a 100% offset savings option, and a redraw facility.
- Low Doc fixed rate. This home loan offers the option of a fixed term of one, three or five years. It can help you gain protection from the uncertainty of rising interest rates.
- Low Doc Portfolio loan. The low documentation flexible line of credit home loan allows you to put your equity to work by using it to finance other investments.
St.George home loans also offer a raft of specialist home loans that include:
- The Relocation Loan that offers an alternative to expensive bridging finance.
- The Building Home Loan where interest is only charged when money is actually taken out to complete the different stages of construction.
- The Seniors Access Home Loan, a reverse mortgage that lets you access the equity in your home to fund your retirement.
- The Super Fund Home Loan that allows you to use your self-managed super fund to invest in residential property.
- Home loans for foreign investors and Australians living offshore which allow you to buy Australian property in Australian dollars.