St George Home Loan Review

St George Home Loan Review

Read Here for Our St George Home Loan Review:

St. George has been serving customers as a financial services institution for more than 80 years. It achieved full banking status in 1992 and became a full-service bank two years later when it acquired the Commercial Banking division of Barclays. Today, St. George is one of the top five largest banks in Australia. Home loans are just one of the products that the Bank offers.

Home Loan Products from St. George

St. George offers a wide range of home loan products, from the most basic to those packed with features. Have a look at these offerings to see which suits you best.

  1. Basic variable home loan

This is the home loan with the lowest variable interest rate that St. George offers. Because it is a no-frills product, you don’t have to pay for features that you won’t be using or don’t need. It also has a redraw facility and no ongoing fees.

Key features:

  • You can make extra repayments free of charge so that you can pay your loan off sooner.
  • You can redraw any extra repayments that you have made.
  • Zero monthly service fee
  • Zero establishment fee if you borrow more than $150,000 when making Principal and Interest repayments only.
  • You can reduce or pause your repayments for a certain period. Please keep in mind that your repayments may become higher after the break for the rest of your loan term.
  • You can use the equity in any of your family’s residential properties to maximise the amount that you can borrow.
  1. Variable home loan with offset

This is a feature-packed variable rate loan with an offset account, a redraw facility and an option to split your loan.

Key features:

  • Pay off your loan sooner by making unlimited additional repayments. This home loan product has no break costs that you need to pay if you finish repaying early.
  • You can redraw funds from your extra repayments.
  • This comes with an offset facility to help you save on interest.
  • You have the option to split your loan into a fixed interest rate and a variable interest rate.
  • You can reduce or pause your repayments for a certain period. Do keep in mind that your repayments may become higher after the break for the rest of your loan term.
  • You can use the equity in any of your family’s properties to maximise the amount that you can borrow.
  1. Fixed rate home loan

With St. George’s fixed rate home loan, you can lock in a fixed interest rate for a period of your choice. You can choose from a 1, 2, 3, 4 or 5-year term.

Key features:

  • Choose from weekly, fortnightly or monthly repayments.
  • You can lock in a fixed rate during application so that you won’t be affected even if rates rise before you settle.
  • You can package your home loan, transaction account and credit card to get a discount on your home loan interest rate and fee waivers. Take advantage of this package for a $395 annual fee. This option is not available on basic home loans.
  • At the end of your fixed rate period, you can re-fix your interest rate for another term. Alternatively, you can let it automatically revert to a standard variable interest rate.
  • You can use the equity in any of your family’s homes to maximise the amount that you can borrow.

Home Loans, Insurance Products and More in a Few Clicks

Can’t decide which home loan product or provider to choose? Makes Cents makes deciding easy for you. With just a few clicks of the mouse and some basic information, you’ll be able to compare more than 25 loan and insurance products and their providers. Start clicking and comparing today.

Our St George Home Loan Review is just one of many. You can also read reviews on many more Home Loan Reviews at MakesCents. 



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