St.George Seniors Access Home Loan

Rates and Fees verified correct on October 27th, 2016

Enjoy your retirement years in comfort with the help of the Seniors Access Home Loan

For Australians over the age of 63, St.George offers the Seniors Access Home Loan. This is a reverse mortgage that allows you to use the equity that you worked to build into your home to help finance your retirement.

St.George offers a wide range of home loan products that can meet the needs of just about anyone. This includes a comprehensive package loan that combines your home loan with transaction account and credit card. This award winning Advantage Package will save you money on both interest rates and fees.

Interest Rate Max Insured LVR Max LVR
(Owner Occupier, IO)
6.3% p.a.
Comparison Rate
6.54% p.a.
25% 25%
(Owner Occupier, P&I)
6.3% p.a.
Comparison Rate
6.49% p.a.
25% 25%
6.3% p.a.
Comparison Rate
6.54% p.a.
25% 25%
Product NameSt.George Seniors Access Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$10,000
Maximum Loan Amount$250,000
Maximum LVR25%
Maximum Insured LVR25%
Mortgage Offset AccountYes
Suitable for InvestmentNo
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$950
Ongoing Fees$10 monthly ($120 p.a.)


  • No income verification required to borrow
  • No regular repayments required


  • There is a $950 application fee
  • There is a $10 monthly account fee

Things to consider about the St.George Seniors Access Home Loan

The Senior Access Home Loan offered by St.George is only available to seniors aged 63 and over. The amount borrowed will depend on the age of all of the applicants and the value of the home.

This loan is classified as a reverse mortgage. This means it allows you to borrow funds using the equity built in your home, and requires no repayments until the property is sold, you no longer live in the home, or all borrowers pass away.

Borrowers will be allowed to access the equity of their home at an interest rate of so long as they own it outright. Loan amounts start at $10,000 and increase to $250,000 depending on how old the applicants are and the assessed value of the home.

The funds obtained from this loan will be issued as a lump sum and can finance whatever you wish. It can be used to pay for a vacation, medical expenses or just as an addition to your retirement income.

Features of the St.George Seniors Access Home Loan

  • Loan to value ratio (LVR). The specifications for the amount you can borrow with this loan depend on both your age and the LVR which St.George will determine. Seniors aged 63 to 69 may borrow up to 15% of their home's value or $150,000, whichever is lower. Those aged 70 to 79 may borrow the lesser of $200,000 or 20% of the home's value. Seniors who have reached 80 will be allowed the lesser of 25% of the home's value or $250,000.
  • Loan term. As with the LVR, the loan terms are structured differently in this type of reverse home loan. Deferred payments are allowed and the loan will continue to accrue interest and fees monthly until the property is sold, the borrowers have vacated the home or all borrowers named on the home loan documentation have passed away.
  • Repayment frequency. Repayments are optional. Instead, the interest and fees are added to the loan balance each month. This means that the principal in your loan will increase over time.


Fees you can avoid

  • Lender’s Mortgage Insurance (LMI). The low LVR makes this extra insurance to the lender unnecessary.

Fees you can’t avoid

  • Establishment fee. The borrower will be responsible for paying $950 to St.George for the establishment of this loan.
  • Monthly fee. Your account will be charged a $10 monthly fee to maintain your account.
  • Valuation fee. You will be responsible for paying for the valuation of your property. The cost will vary depending on the location and size of your home.

Find out what your repayments will be in a few seconds

How to apply for the St.George Seniors Access Home Loan

To be eligible for this type of loan you must meet very specific requirements:

  • Age. All applicants must be at least 63 years of age.
  • Property. The home must be completely owned by you.

If you meet these requirements you can click 'Go to Site' to begin the application process. Please gather the following documentation to help expedite the process:

  • Driver’s license. A valid driver’s licence number or other form of identification will be needed to confirm your identity and age.

The decision to take out a Seniors Access Home Loan is not to be taken lightly. You should consider talking with a financial advisor or accountant before making this commitment. If you still think this is right for your situation, explore similar offers being made by other banks to make sure that you are getting competitive rates and fees.

Enquire about this home loan

St.George Seniors Access Home Loan Interest Rate History vs RBA Cash Rate Graph

Enquire about this home loan
Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 3 April 2016 at 18:29.

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

4 Responses to St.George Seniors Access Home Loan

  1. Default Gravatar
    ellen | April 15, 2016

    Hi my mum had one of theses loans. Can you tell me if it has an insurance on it because it is a mortgage would she be insured for death?

    • Staff
      Marc | April 22, 2016

      Hi Ellen,
      thanks for the question.

      The Seniors Access Home Loan does not come with any life insurance products.

      I hope this helps,

  2. Default Gravatar
    DL | January 6, 2015

    We already have a reverse mortgage loan of $100,000 which has been drawn down in full.
    Our question is can we apply to increase the loan?. We are both 79 years old and the loan amount would be well within 25% of the LVR

    • Staff
      Marc | January 8, 2015

      Hi there DL,
      thanks for the question.

      The best way to find out if you’d be able to borrow more is to speak to St.George directly. They’ll be able to let you know if you’d be able to top up your loan.

      I hope this helps,

St.George Seniors Access Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $950 / $10

  • Max LVR


Ask a question