Enjoy a fixed rate when buying a property through your SMSF and a partial offset account so you save on interest
The St.George Fixed Super Fund Home Loan offers a choice of one to five year fixed terms, a partial offset account and options such as interest-only repayments.
With a fixed rate, you can be sure that your loan repayments won’t increase with interest rate rises. You can set a firm budget and know your investment won’t begin costing you more.
You should also note that St.George also offers a variable rate Super Fund Home Loan, as well as a range of regular home loans for buying residential property.
|Product Name||St.George Fixed Super Fund Home Loan|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$10,000|
|Maximum Loan Amount||$2,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||70%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||No|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$12 monthly ($144 p.a.)|
- Borrow funds in your SMSF to purchase property and increase fund value
- Partial offset available on fixed loans
- Can borrow up to 70% of the property value
- A $1500 application fee applies
- A $100 settlement fee applies
- A $12 monthly account fee applies
- A discharge fee of $350 applies when you close your home loan account
Things to consider about the St.George Fixed Super Fund Home Loan
The St.George Fixed Super Fund Home Loan is only available to those with a self-managed superfund (SMSF). It’s available for SMSFs where the trustee is an individual, and where the trustee is a company.
This loan is a limited recourse loan, meaning that the amount St.George can recover is limited to the property you purchase. This protects the assets in your SMSF in the event that you default on your loan.
Features of the St.George Fixed Super Fund Home Loan
There are a number of competitive features offered with this loan, including:
- Partial offset account. The partial offset account is a linked to a transaction account which helps to reduce the amount of interest payable on your home loan. Any funds in this account will reduce the amount of interest payable on your loan.
- Flexible repayments. You can choose to make repayments weekly, fortnightly or monthly with this loan. You can also make up to $10,000 per year in extra repayments without incurring break costs.
- Interest-only options. You can make interest-only repayments on this home loan for up to 15 years. This can help reduce the repayment amount that is due each month, but will not see your loan amount being paid off.
- Maximum LVR. You can borrow up to 70% of the property’s value if your SMSF trustee is an individual or a company.
- Rate lock. You can take out a rate lock option with this home loan. This covers you from rate changes for 90 days before settlement so that you don’t get a higher rate in the time that it takes your loan to settle.
- Interest in advance. You can pay the interest due on this home loan in advance, which can provide you with tax benefits and interest rate discounts.
Fees you can avoid
- Rate lock fee. The rate lock fee is optional and covers you from rate changes for up to 90 days before settlement. This fee is 0.15% of the loan amount or $500.
Fees you can’t avoid
- Establishment fee. $1,500. This fee is charged to cover the costs of application for this loan.
- Monthly administration fee. $12 per month. This is charged to maintain your loan account each week.
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How to apply for the St.George Fixed Super Fund Home Loan
You can find out more about this loan by clicking the ‘Go to Site’ button on this page. This will securely take you to the St.George website, where you can find out more about this loan, or apply online.
To apply for the Fixed Super Fund Home Loan, St.George will want some information to verify your identity, income, debts and your SMSF. Required documentation includes:
- A certified copy of your Trust Deed
- Bank statements
- Evidence of your income, assets and expenses
- Business tax returns and financial statements if self employed
- The Contract for Sale
- Tax returns and Notices of Assessment if you’re an individual
The St.George Fixed Super Fund Home Loan is a fixed rate home loan with a range of features. Add it to your comparison of SMSF home loans today.
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