Bridging Home Loans - St George Bank - Relocation Loan

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

Home Loan Loan Term
6 months for existing home purchase.
12 months for construction.
Refer Product Specifications for the end debt product.

Home Loan Loan Size
Minimum of $10K
Maximum refer to BDM for amount over $1M.

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Home Loan Repayment Type
Capitalising. Refer Product Specifications for the end debt product.

Repayment Options
Based on End Loan Amount (end loan may be one of many St.George Products)
Weekly, Fortnightly or Monthly Principal & Interest & Interest Only.

Extra Repayments
Surplus repayments allowed no penalties apply on variable rate loan.

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Split Loan Facility
Yes.

Offset
Yes 100% on end loan Honeymoon and Standard Variable rate.

Redraw Facility
Not available during the construction period or Relocation period.
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 Bridging Home Loans - St George Bank - Relocation Loan

Owner Occupied Maximum LVR 90%
Investment Maximum LVR 80%
Construction Maximum LVR 90%
Refinancing Maximum LVR 90%
No End Debt LVR the maximum LVR is 80% based on the Projected Peak Debt.
End Debt LVR the maximum LVR is 90% based on the Projected
Peak Debt for both owner occupied and investment loans maximum LVR 80% LMI applicable.
No End Debt and End Debt Valuations
For the property being purchased use the purchase price, where permitted by valuation policy.
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 Bridging Home Loans - St George Bank - Relocation Loan

Application Fee $600
Note - with no end debt Application Fee $1350
Settlement/Lodgement Fee:$ 100 per loan account (Fee displayed as Mortgage Preparation )
Additional Valuations:$0 Valuers travelling allowance payable by customer.
Additional Security $100
On going fees Depends on end debt product selected.
Fixed Rate Repayment Fee this fee will apply to home loans that are fully discharged before the end of their fixed rate period : $150
Redraw Fee Electronic $10
Manual $25
Increase Fee $500
Switch Fee to LIS $500
Rate Lock Fee 0.15% of the loan amount or $500 whichever is higher)
Consent to Subdivision $350
Substitution of Security $350
Renegotiation $500
Discharge of Mortgage Fee $500
Discharge Settlement Processing Fee $100
Progress Payment Administration Fee $250
Arrears Letter Fee $50