Basic Home Loans - St George Bank - Promotional Basic Home Loan

This loan is suitable for
Self employed, Salary & Wage earners.

Home Loan Loan Term
Principal & Interest: 3 - 30years.
Interest Based: 3 - 15 years. All interest only loans will be Combination Loans, ie Interest Only for up to the first 15 years reverting to t P & I for at least 1 year.

Home Loan Loan Size
Minimum: $30K
Maximum: $1M

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Home Loan Repayment Type
Principal & Interest : 3 - 30 yrs
Interest Based: 3 - 15 yrs.

Repayment Options
Weekly, fortnightly or monthly frequencies allowed on Principal &
Interest loans. Monthly frequency only for Interest Based repayments.
Repayment Pause available.

Extra Repayments
Principal and Interest- Fortnightly, Monthly or weekly.
Interest Only 15yrs - Monthly.
Standard monthly repayments by automatic transfer or phone/internet (via Freedom Savings Account).

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Split Loan Facility
Yes

Offset
No.

Redraw Facility
Redraw Fee Electronic $0
Manual $50.
No minimum amount applicable.
Note redraw isn't available until the next payment due date after settlement.
With most of our products (excluding Portfolio Loan / line of credit) funds paid into the loan are not available when they have been deposited, until the next payment date. The system holds the deposit until the payment due date and then shows the additional funds (over and above the repayment due) as available redraw. Redraw is not automatic on a loan and clients may need to apply for a redraw facility to be active on their loan.
When a St George loan settles, the surplus funds are usually deposited into a nominated St George Bank account on date of settlement. This needs to be specified in the disbursement form which the client receives with the loan documentation.
Maximum Redraw: via Internet Banking is $30,000 per day, phone and internet transfers can only be made into St George Bank accounts.

LVR for Basic Home Loans - St George Bank - Promotional Basic Home Loan

Owner Occupied Maximum LVR 95%
Investment Maximum LVR 95%
Construction Maximum LVR 0%
Refinancing Maximum LVR 90%
Debt consolidation Maximum LVR 90%
Residential vacant land LVR 95%

Maximum LVR of 95% for existing customers only (please refer to Special Credit Critera for definition of an existing customer)
Maximum LVR of 90% for new customers.

No second mortgages. Apart from a second mortgage used with a family pledge.

FASTRefi is a process that allows settlement for refinancing of residential loans to be completed within days of the customer signing the loan documents. For more information on this service contact your broker support centre Mortgage Central on 1300 137 532.

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Fees for Basic Home Loans - St George Bank - Promotional Basic Home Loan

Establishment Fee $500
Early Repayment Fee $1k if loan is discharged within the first 3 years
Settlement/Lodgement Fee:$ 100 (Fee displayed as Mortgage Preparation)
Monthly Service Fee: Nil
Additional Valuations:$100 for each additional security after the first. Valuers traveling allowance charged for remote properties.
Additional security fee $100
Additional Security Fee: $100 per security
Redraw Fee Electronic $0.
Manual Redraw Fee $50.
Increase Fee $500
Switch Fee to LIS $500
Rate lock fee N/A
Consent to Subdivision $350.
Substitution of Security $350.
Renegotiation $500
Discharge of Mortgage Fee $500.
Discharge Settlement Processing Fee $100
Arrears Letter Fee $50.
Split Fee $150
Refer to Fee Guide in Lender Manual Folder for full list of the fees.