Fixed Rate Home Loans - St George Bank - Quick Start No Deposit H/L 2 yr fixed |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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St George Bank Home Loan |
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| Home Loan Product Name |
Quick Start No Deposit H/L 2 yr fixed |
| Interest Rate |
9.64% |
Comparison Rate
Estimated |
10.00% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,276.63 |
Monthly Payment
Estimated |
$1,301.22 |
Total Paid
Estimated |
$472,854 |
| Establishment Fee |
$750.00 |
| Enquire/Apply |
 
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| Target Market |
The St.George No Deposit Home Loan Quick Start is for customers who do not meet traditional mortgage insurance savings requirements, but need a flexible home loan to purchase their own home; i.e. newly built or established.
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Available for Construction Loans Variable Rate, House and Land Packages and Strata Units and Townhouses
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A No Deposit Quick Start loan would suit:
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Someone who has newly graduated from university and is now in stable employment,
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A younger borrower who has not yet had time to establish themselves and save a deposit
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Someone whose loan application has been declined LMI cover due to insufficient savings history, an unacceptable deposit source or a valuation that has come in slightly under the purchase price,
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A customer with sufficient income to afford to buy a more expensive house but less than 5% deposit or who has a good income but has lost assets in a divorce settlement.
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It could also suit someone who has a deposit but who would prefer to use their own funds for purchases after they move into their new home, such as furniture, or renovations. |
| Acceptable Income |
PAYG & Self Employed
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Investors profile: minimum net assets of $100K or at least 20% equity in their own home (minimum value $50K) and minimum income of $50K one borrower. |
| Loan Term |
Owner Occupier loan term 30 Years
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Investor P&I loan term 25 years.
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Interest Only maximum 5 years then Principal and Interest over 20 years (Investment Only). |
| Loan Size |
Minimum $50K
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Maximum Loan $750K
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Maximum loan $750K. Capital and major regional centre - refer to No Deposit Home Loan Locator for remaining allowable security locations |
| Repayment Type |
Owner Occupier - Principal & Interest
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Investment - Interest Only or Principal & Interest
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Variable rate and 1 to 5 year fixed rates available. |
| Repayment Options |
Weekly Fortnightly Monthly allowed on Principal & Interest Loans.
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Monthly repayments only for Interest Only Loans.
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Interest in advance repayment option for for fixed rate investors. |
| Extra Repayments |
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| Split Loan Facility |
Yes available. |
| Offset |
100% Mortgage Offset Available on the variable rate.. |
| Redraw Facility |
Available on the variable rate. No Minimum redraw amount subject to bank approval. |
| LVR |
Owner Occupied Maximum LVR 100%
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Investment Maximum LVR 100%
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Construction Maximum LVR 100%
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Refinancing Maximum LVR 0%
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Owner Occupier, Investment & Construction Maximum LVR 100%
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Increase to an existing No Deposit Home Loan
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Home Improvements by contract builders only 100%
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Genuine Savings is not required. |
| Fees |
Establishment Fee $750 includes Legal, Valuation on one property-
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Fixed Rate Repayment Fee this fee will apply to home loans that are fully discharged before the end of their fixed rate period: $150
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Administration Fee $12 per month
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Early Termination Fee 1.75% of the loan balance owing on the date of repayment if the loan is discharged within 4 years from settlement date
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No minimum redraw amount
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Redraw Fee Electronic $10
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Manual Redraw Fee $50
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Increase Fee $500
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Switch Fee $500
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Rate Lock Fee 0.15% of the loan amount or $500 whichever is higher)
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Consent to Subdivision $350
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Substitution of Security $350
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Renegotiation $500
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Discharge of Mortgage Fee $350
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Discharge Settlement Processing Fee $100
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Progress Payment Administration Fee $250
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Progress Payment Final Inspection Fee $102.50
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Arrears Letter Fee $50
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Settlement/Lodgement Fee:$ 100 per loan (Fee displayed as Mortgage Preparation). |
| Enquire/Apply |
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| Other Fixed Rate Home Loans |
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| Other St George Bank Home Loan Products |
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This Comparison Rate applies only to $150,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.
This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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