Portfolio Loan Variable Rate Portfolio Loan - Variable Rate (Owner Occupied)

  • 5.64%
    p.a Standard Variable
  • 5.72%
    p.a Comparison**
  • $800
    Upfront fees
  • $168
    Annual fees
  • 90%
    Max Lvr
  • $2,193
    Per Month*

About St.George Bank

St.George Bank is one of Australia's leading retail and business banking brands, serving over 2.6 million consumer, business and corporate customers in Australia. In 2008, St.George and its South Australian brand, BankSA, became part of the Westpac Group. With more than 5700 staff and 396 St.George and BankSA retail branches, St.George is known for exceptional service, innovative, award-winning products, and specialist financial advice for retail and business customers. St.George has built its reputation on strong connections with local communities. A deepening understanding of sustainability suggests that they’re extending their commitment to a broader range of stakeholders and interests.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$2,193
rate per annum
5.64%

Loan to Value Ratio

Borrow up to the maxium of 90% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
90%
Capitalise LMI
Yes

Availability

For ["Line of Credit", "Construction", "Equity", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
1 - 40 years
Min
$10,000
Max
$99,999,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
No
Min Redraw
$0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
No
Redraw Available
No
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
No
Professional Pack
No
Check Account
Yes
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Monthly.

Interest Only Option
Yes
Max Interest Only
5 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$800
Establishment
$700
Settlement
$100

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$168
Ongoing Monthly
$14

Exit Fees

Fees associated with prematurely ending the loan.

Total
$850
Exit
$350
Early Repayment
$0
Switch To Fixed
$500

Notes

Portfolio Loan is a secured line of credit facility where one overall credit limit may be divided between up to ten (separate) sub-accounts. Sub-accounts can be set up for different loan purposes as required by the customer. Eg. Owner-occupier, investment or personal. Target Market: - People who want to own their own home sooner. - People who have greater than 10% equity in their property/s. - People who have a number of different borrowing and lifestyle requirements. Key Benefits: - Customers can own their own home sooner. - Assists with wealth creation. Not available for: - Introductory / promotional rates (unless specifically stated). - Rural land security. - Interest In Advance repayment type. - Bank of Melbourne building loans - Owner Builder loans Repayment Type and Loan Term: The minimum repayment required is interest plus fees and charges accrued during the month. Capitalisation is not allowed the Primary sub-account but is available on other subaccounts (both regulated and un-regulated). There is no term, however the bank reserves the right to conduct annual reviews. The account balance is payable on demand (except if the sub-account is fixed, then the balance is payable when in default).

LVR Notes

For new and existing customers, max LVR for owner occupiers is 90%. Max LVR for refinances from other financial institutions is 90%. Owner Occupied: These LVRs can be increased by the amount of the LMI premium to a maximum of 2% above the max LVR for that customer. Conditions apply for new customers. These include, but are not limited to; - Maximum loan amount of $750K - No Auto Decline overrides will be considered - Genuine savings policy applies, with the exception of Inheritance and Sale of non-real estate assets which are capped at 90% LVR

Notes

5% Genuine savings needs to be verified on mortgage insured loans where the LVR exceeds 85%.

Fee Notes

Rate Lock Fee is the higher of 0.15% of the sub-account credit limit (to be at a fixed rate) or $500

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided