St.George Basic Home Loan
Pay your loan off sooner thanks to a low interest rate and no monthly fees
If you’re looking to buy a new house and don’t want to pay for features you may not use, you might want to consider the St.George Basic Home Loan. It offers a low variable interest rate with no ongoing fees.
Richard Whitten is a senior writer at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.
The St.George Basic Home Loan can be used to purchase any residential property with a term of up to 30 years. It has a variable interest rate and can be used to purchase vacant land, but it cannot be used as a construction loan.
You can borrow up to 95% of the value of your chosen home with lenders mortgage insurance (LMI) or up to 80% of the property's value without LMI.
About this loan
What are the features and benefits of the St.George Basic Home Loan?
- Redraw facility. A St.George Basic Home Loan offers the ability to withdraw extra funds that you may have deposited on your home loan. This means that you can use any extra money you may have to reduce your home loan debt and still be able to access these funds if there is ever a situation where you require them.
- Flexible repayments. Home loan repayment can be made weekly, fortnightly or monthly.
- Fees and charges. The St.George Basic Home Loan charges no monthly account-keeping fees.
- You can make extra repayments. Extra repayments can be made at any time without incurring penalties.
How to apply
If you think that the St.George Basic Home Loan could work for you, click the green button to get in touch with a lending specialist from St.George. Make sure you have the following information on hand:
- Employment details including addresses and phone numbers
- Income details including assets
- Details of any other loans (personal or home), credit card debts or store cards