St.George Bank offers a range of products and services, including personal and business home loans. It has a reputation for being a leader in technology and having excellent customer service. St.George also partners with over 800 community organisations through the St.George Foundation, which funds charity-run programs that aren’t able to raise sufficient support on their own.
St.George was established in 1937 in south Sydney as a building society. It became a bank in 1992 and acquired a number of companies, including the commercial banking division of Barclays. It was the first to launch electronic banking to business customers and merged with Westpac in 2008.
St.George has won a number of awards for its home loans, including:
Home Lender of the Year
- Basic Home Loan
- 2, 3, and 5 year fixed rate home loan
- Portfolio Loan
St.George offers two home loan suites: standard and specialist home loans. The loans are designed to suit a range of needs, from first home buyers to investors.
Standard home loans
Standard home loans are straightforward and uncomplicated, with the features you’d expect from a traditional home loan.
Standard Variable Rate Home Loan
This home loan is flexible, from its features to its rate offers. This is a standard home loan with a solid range of features, such as:
- Make extra repayments with no penalty for early repayment
- Option to split the loan into fixed and variable interest rates
- Offset account and redraw facility available.
Fixed Rate Home Loan
This home loan offers security with the ability to lock in your rate on application. Features include:
- Fixed interest rate from 1 to 5 years
- Pay your interest in advance on investment loans and get a 0.2% interest rate for a limited period
- Re-fix your rate at the end of the term or revert to the standard variable rate.
Basic Home Loan
This is a good option for first home buyers prioritising low cost over a long list of features. These include:
- No monthly fees
- Lower variable interest rate
- Redraw facility
This loan provides an ongoing line of credit allowing you to access funds that can be used for investment purposes.
- No set repayment term
- Keep your investments separate by adding up to 10 sub-accounts
- Borrow up to 90% of the value of your secured property and use it to invest
Specialist Home Loans
St.George provides three specialist home loan packages for buyers with specific or unique needs.
This loan is designed for customers building a new home. You can make payments in stages aligned with the progress of your new build. Features include:
- Save on interest by getting loan funds progressively as construction stages are completed
- Make progress payments to the builder in stages
- Make interest-only payments until construction is completed
This loan helps you strike a balance between buying or building your new home and selling your current home. Features include:
- Use the loan to cover costs like your deposit or stamp duty. You’ll still have six months to sell your current home after you get the funds
- New builds get six months to build after the first advance, and an additional six months to sell your existing home
- Range of offset options, including the ability to fully offset your interest
Super Fund Home Loan
Customers with a self-managed super fund (SMSF) can use this home loan to purchase residential investment properties. Features include:
- The ability to pay interest in advance on fixed rate interest loans
- Offset your interest in full
- Choose your repayment term: up to 30 years for principal + interest or up to 5 years for interest only.
St.George offers a comprehensive list of features, making it a competitive choice for home loans. Availability of features depends on the home loan you choose and terms and conditions apply. Popular features include:
- Choose your repayment frequency: weekly, fortnightly or monthly.
- Avoid paying Lenders Mortgage Insurance by using a family member as a guarantor
- St.George Advantage Package: Package your home loan with a St.George Bank credit card and transaction account to save on interest rates and home loan fees.
- Offset accounts
- Redraw facilities
- Ability to make extra repayments on your mortgage
- Pause repayments for a set period of time
St.George home loans cover a range of loan types and payment options. Depending on your home loan, you can opt to pay principal + interest or interest-only.
St.George breaks its loans into four types:
- Established home loan: for borrowers purchasing an existing home
- Building loan: for borrowers building a new home or doing renovations
- House and land package: for borrowers receiving a single advance to purchase a new home
- Vacant land: for borrowers intending to purchase land only
There are three ways to apply for a St.George home loan.
Before you apply, ensure you’re prepared with the relevant financial documents. What’s required will vary depending on your situation, but as a starting point you should have the following:
- Proof of income
- Savings history
- Proof of debts or other financial interests
If you’re over 18 and an Australian permanent resident, you can apply online via the St.George website. After completing the online form you’ll receive information on the next steps. A home loan expert will contact you over the phone to talk about what comes next.
Alternatively, submit an online enquiry to receive a call from a home loan expert at St.George. Prefer to talk to someone face-to-face? Visit your local St.George branch to discuss your options.
Yes. If you’ve made more than the minimum repayments on your home loan, you can request to withdraw these funds at any time without extending the life of your loan. You can register for redraw at any time with internet or phone banking.
Fees may apply to each redraw, and are typically lower if you make the request via internet or phone banking.
Yes. If you have a variable rate home loan, you can make unlimited extra repayments on your loan at no additional cost. With fixed rate loans, you can make up to $10,000 in extra repayments each year. Repayments above this amount may incur fees.