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
0 - 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
Yes
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
Yes
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
No
Check Account
Yes
Direct Salary Credit
Yes
Free Transactions
No
Minimum Redraw
No
Redraw Fee
Yes

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

St.George Portfolio Loan allows borrowers to put the funds they borrow to a number of different uses and to change the use of their funds with minimal effort. The product may be the only credit facility that the customer ever needs. -Portfolio Loan credit limit can be divided into sub-accounts (up to 10), each of which has its own sub-account credit limit. The Portfolio Loan credit limit is the sum of all the sub-account credit limits. - As the customer’s financial needs change, they may redistribute any available credit limit between subaccounts eg as they pay down their owner occupier sub-account, they may transfer excess credit limit on this sub-account to their investment sub-account and use the funds to increase their investment holdings. - The customer has the convenience of keeping their transactions separate for budgeting and taxation purposes and the flexibility of changing the purpose of their borrowings whenever they need. - The primary sub-account must be in the names of all the Portfolio Loan borrowers. - The ownership structure for each subsequent subaccount may be different. A borrower in whose name a sub-account is opened is referred to as the subaccount holder. A sub-account holder MUST be one or more of the Portfolio Loan borrowers. - Any Portfolio Loan borrower who is not a sub-account holder of a particular sub-account MUST guarantee that sub-account. - A Portfolio Loan Guarantor who is not a borrower cannot be a sub-account holder. - With the exception of the Primary sub-account, there is the ability to capitalise interest on fixed and variable rate all sub-accounts irrespective of purpose (for both regulated and unregulated sub accounts). There may be taxation benefits in this for the customer. Customers should be encouraged to obtain their own financial advice, especially when they are using any of the sub-accounts for investment purposes. This is not available on the primary sub-account. - Where the Portfolio Loan security property may be under construction, a building sub-account can be set up from which the Bank will advance progress payments to the builder, during construction. This is not available for Owner builders. Portfolio Loan is NOT AVAILABLE for: - Introductory/promotional rates (unless specifically stated) - Rural land security (restrictions apply) - Where the security is to be by registered 2nd or subsequent mortgage (behind another financier) - Where any property is already the security for a Great Australian Home Loan (GAHL). Unless that GAHL was approved after 21 March 2001 - Building Loans (Owner builder). - House and land packages Splitting Not applicable for this product. New sub-accounts may be added as required by the customers and the Portfolio Loan credit limit redistributed across all sub-accounts. Portfolio Loan is available as the end debt portion of a Relocation With End Loan. The capitalising portion of the Relocation Loan cannot be a Portfolio Loan. For Relocation With No End Loan, the borrowers may apply for a Portfolio Loan after settlement of the sale. Standard Bank serviceability and other lending criteria must be met, however a reduced establishment fee will apply. Building loan: A building sub-account can be set up on a Portfolio Loan from which the bank will advance progress payments to the builder, during construction. The property under c

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

Other upfront fees and costs may apply. Additional Security Property Fee: $100. Partial discharge assessment fee: $350 Additional sub-account fee: $100 per additional sub-account Redistribution of limit fee: $10 per request Change of primary sub-account fee: $10 per request. Change of interest rate or interest rate option or payment requirement: $500 per request per sub-account plus break costs if applicable

*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