St George No Deposit Variable and Fixed Rates | Home Loans | Investment Loans | Mortgages | Interest Only

Lender Name	ST GEORGE BANK
Product Name	NO DEPOSIT FLEXIBLE DEPOSIT OPTION
Product Type	VARIABLE / FIXED
Interest Rates	Latest Interest Rates Compare Other Lenders
Redraw Facility	Available on variable rate Principal & Interest loans subject to the bank approval. No Minimum redraw amount subject to bank approval.
Offset	Mortgage Offset Available. (100% offset (Mortgage Equaliser) only available on variable rate loans.)
Fees	Establishment Fee $750 includes Legal, Valuation on one property and Admin Fee reduced savings account when nominated for the loan repayment. Early Termination Fee 1.75% in first 4 Years No minimum redraw amount Redraw Fee Electronic $10 Manual Redraw Fee $50 Increase Fee $395 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 Progress Payment Final Inspection Fee $102.50 Arrears Letter Fee $50 Settlement/Lodgment Fee:$ 100 per loan (Fee displayed as Mortgage Preparation).
LVR	Owner Occupied Maximum LVR 100% Investment Maximum LVR 100% Construction Maximum LVR 100% Refinancing Maximum LVR 100% Increase to an existing No Deposit Home Loan Home Improvements by contract builders only 100% No Genuine Savings required (refer to Special Lenders Criteria for information)
Repayment Type	Principal & Interest for Owner Occupier & Investment Owner Occupier & Investment - Interest Only or Principal & Interest Fixed option is available upon the completion of the dwelling.
Repayment Options	Weekly Fortnightly Monthly allowed on Principal & Interest Loans. Monthly repayments only for Interest Only Loans. Interest in advance repayment option for investors with fixed rate loans.
Repayment Method	Automatic Transfer from a St George savings account, Direct Credit, Manual Payments, BPay and phone and Internet Banking.
Extra Repayments	Extra Repayments: Unlimited additional repayments available on Principal and Interest variable rate loans. additional payment of up to $10k per 12 month period during the fixed rate period without incurring any break cost.
Special Offers
Term	Owner Occupier Principal and Interest loan term 30 Years Investor P&I oan term 25 years. Interest Only maximum 5 years then P & I over 20 years or 25 for Owner Occupier.
Loan Size	Minimum $50K Maximum Loan $750K Maximum loan $750K. Capital and major regional centre - refer to No Deposit Home Loan Locator for remaining allowable security locations
Mortgage Insurance	Lenders Mortgage Insurance is payable for LVR�s >80%
Acceptable Income	PAYE employees. Approval to be obtained on an individual basis per application. 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.
Product Change	Borrowers with a St George No Deposit Home Loans may have the interest rate reduced or switch to either a standard variable or fixed rate providing Loan has been in existence for at least 12 months. There have been no arrears on the loan. Updated valuation required to bring the LVR to 80% or less. A customer with a No Deposit Quick Start Option may switch to another No Deposit Home Loan (LEF or Flexible Deposit) product after 3 years if at this time the loan has an LVR, which is less than 100%. A customer with a No Deposit Quick Start Option may switch to our standard home loan products after 3 years if at this time the loan has an LVR which is less than 95% and meets all the other product parameters/lending criteria for the product. If a customer wishes to switch to a No Deposit LEF Option within 3 years - they can do this upon payment of the LEF fee.
Statements	Issued ever six months
Portability	Not available.
Split Loan Facility	Yes available.
Special Notes	Documents required for unconditional approval 1- Builder Specifications Documents required for unconditional approval 1- Builder Specifications 2- Standard Building Plans 3- Builders Tender 4- Site Plan Documents required for settlement instructions to be provided to Bank Solicitor: - 1- Building Plans/Working Drawings 2- Fully Signed and Completed Building Contract Note: Tender and/or contract must State the address of the property State the cost of building in accordance with the plans and specifications State the builders licence number Be a firm tender for a minimum of 60 days Be no more than 2 weeks old for a 60 day tender, or no more than 6 weeks old for a 90 day tender at the time of application Applicants will be required to have the difference between the tender/contract and loan amount in a St.George account, or through the sale of a property, as these funds will be contributed in full prior to the release of any loan funds. Please note that should the building agreement/contract differ from the tender by way of inclusions, finishes and/or cost then the following action will be taken: - Client is to meet cost increase (where applicable) and/or Additional valuation must be ordered (where applicable) at the expense of the client. This will impact on time required to prepare for land settlement Please note also that settlement instructions will not be provided to the bank solicitor to prepare for settlement until the fully executed building contract is produced. A realistic settlement time based on the production of the building agreement MUST be sought. Applicants will be able to provide individual quotes for the required minimums in the building contract. Applicants will now be able to provide quotes for the minimum Building Loans. This only applies to applicants in South Australia and the security property must be located in South Australia. They are as follows: Driveways from the footpath to the front of the dwelling Flooring that is carpet or boards tiling or vinyl Written quotes must be provided and to be provided by a reputable licensed contractor and must be inclusive of GST installation and or labour costs. SCHEDULE A NO DEPOSIT HOME LOAN ACCEPTABLE SECURITY LOCATIONS refer to BDM or http://www.stgeorge.com.au/brokers/.
Target Market	The St.George No Deposit Home Loan is now an option 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. Refinances available on this product Available for Construction Loans Variable Rate, House and Land Packages and Strata Units and Townhouses A No Deposit Home Loan customer would be someone who has newly graduated from university and is now in stable employment, or perhaps a younger borrower who has not yet had time to establish themselves and save a deposit Who has sufficient income to afford to buy a more expensive house but has less than 5% deposit Who has a good income but has lost assets in a divorce settlement. Who have 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.

Home Compare Home Loans Mortgage Calculators Mortgage Quotes Commercial Loans

Business Loans Insurance Site Map Contacts

WARNING: Comparison rates (real rate) are based on a $250,000 loan for 25 years. This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.