|
Lender Name |
ST GEORGE
BANK |
|
Product Name |
RELOCATION
LOAN |
|
Product Type |
BRIDGING |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Not
available
during the
construction
period or
Relocation
period. |
|
Offset |
Yes 100% on
end loan
Honeymoon
and Standard
Variable
rate. |
|
Fees |
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
$395
Switch Fee
to LIS $350
Rate Lock
Fee $395 to
0.15% of the
loan amount
or $395
(whichever
is higher)
Consent to
Subdivision
$350
Substitution
of Security
/
Renegotiation
$350
Discharge of
Mortgage Fee
$350
Discharge
Settlement
Processing
Fee $100
Progress
Payment
Administration
Fee $250
Arrears
Letter Fee
$50 |
|
LVR |
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 iis 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.
Note: There
is no policy
change to
the
requirement
for a short
form
valuation
(based on 30
day fire
sale) on
property
being sold. |
|
Repayment
Type |
Capitalising.
Refer
Product
Specifications
for the end
debt
product. |
|
Repayment
Options |
Base on End
Loan Amount
(end loan
may be one
of many
St.George
Products)
Weekly,
Fortnightly
or Monthly
Principal &
Interest &
Interest
Only. |
|
Repayment
Method |
Monthly
frequency
only for
Interest
Based
Repayments.
Weekly or
Fortnightly
for P&I
Repayments. |
|
Extra
Repayments |
Surplus
repayments
allowed no
penalties
apply on
variable
rate loan. |
|
Special
Offers |
|
|
Term |
6 months for
existing
home
purchase.
12 months
for
construction.
Refer
Product
Specifications
for the end
debt
product. |
|
Loan Size |
Minimum of
$10K
Maximum
refer to BDM
for amount
over $1M. |
|
Mortgage
Insurance |
Mortgage
Insurance
applicable
if LVR is
over 80%. |
|
Acceptable
Income |
Self
employed,
Salary& Wage
Earners. |
|
Product
Change |
Yes fees
apply. |
|
Statements |
Issued 6
monthly. |
|
Portability |
Yes
(facility
not
available
during
relocation
period) |
|
Split Loan
Facility |
Yes. |
|
Special
Notes |
Acreage over
10 acres
must have
dwelling on
property.
Acreage
greater than
10 acres
refer to
BDM. |
|
Target
Market |
Purchase a
new home
immediately
with 6
months to
sell
existing
property, or
Construct
new home
with 12
months to
sell
existing
(inclusive)
Bridging
Loan with no
end debt
also
available
fee of $1350
applies. |
