Relocation Loan Relocation Loan (End Debt) (Interest Only) (Owner Occupied)
5.34%p.a Standard Variable
About St.George Bank
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
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.
- Capitalise LMI
For ["Bridging", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].
- 1 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
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
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repaments Monthly.
- Interest Only Option
- Max Interest Only
- 5 years
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.
Monthly and annual fees and charges during the loan period.
- Ongoing Monthly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
The Relocation Loan is designed to assist customers with the purchase of a new property for the purpose of owner occupation or Investment when the sale of their existing property is still to occur. With End Loan caters for customers who will have a residual loan secured by a mortgage on their new property once the sale of their existing property occurs. The End Loan is based on the purchase price of the new property plus purchase/selling costs, less equity in the existing property and allowing for a 15% fall in the sale/ valuation of the existing property. This allows for a possible fall in property value/sale price of the existing property. The Relocation With End Loan is available on any existing product type currently available (subject to individual product specifications) for the end debt portion. The capitalised portion is to be on the standard variable rate only. A Relocation Loan will have at least two securities. St.George is to hold registered first mortgage security over all security properties. Any existing mortgages on security properties are to be discharged and the loans re-financed. All properties will be held as security upon settlement of the new purchase. The existing securities will be released when the properties are sold and the end loan amount will be secured by mortgage on the remaining property. Where there are more than two security properties, the existing properties do not need to be released at the same time. At the end of the relocation period, a partial discharge transaction is processed to the loan to discharge the Capitalised Loan sequence. The relocation period will end at the time the partial discharge payment is made to the loan. The loan will continue on the selected product. A Relocation Loan is NOT AVAILABLE for: - 2nd Mortgages - Increase (Further) Loans - Vacant Land - Extended settlement loans - Owner Builder Loans - Family Pledge loans Building loans are allowed provided they are being undertaken via a Contract builder (owner builders excluded). There is a maximum of 6 months to build the home from the date of the first advance, then a maximum of 6 months from final draw down to sell the existing home, a total relocation period of 12 months. Eg if the building is completed within 4 months, then the maximum relocation term will be 10 months. Increase (Further) loan Not available during Relocation period. Any requests for loans in excess of $1M are to be referred to Mortgage Central before proceeding. Customers with principal & interest repayments may nominate to pay extra repayments via automatic transfer from their St.George transaction account. Additional repayments may be made over the counter at any St.George branch or via Internet or Phone Banking. (Processing fee may apply) Redraw Not available during relocation period.
The maximum LVR is not to exceed 90% (owner occupier Loans) and 80% (investor loans) at the time of projected Peak Debt (calculated in the Relocation Worksheet). LMI is available for this product for owner occupiers up to a maximum of 90% LVR. It is not available for investors. 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
5% Genuine savings needs to be verified on mortgage insured loans where the LVR exceeds 85%.
Other upfront fees and costs may apply. Additional Security Property Fee: $100. Partial discharge assessment fee: $350. Company Title: $205 per security. Trustee: $205 per trustee. When any of the security offered involves a Guarantee:$205 per guarantee.