St.George Basic Home Loan
Posted May 12th, 2010
and last modified January 31st, 2012
If you’re looking to buy a new house or just to refinance and you don’t want to be paying for all these fancy features that you’re just not going to use, you should look at the St.George award-winning basic home loan that offers a low variable interest rate with no monthly account keeping fee or yearly fee. This no-frills home loan could be just what you need to get into your new home or if your current home loan that is just not working for you.
Features of the St.George Basic Home Loan
There are so many choices when it comes to a new home loan, that when a simple choice comes along, it could just be the best one. If you’re ready for something simple in your search for the perfect home loan, consider the features and information about the St.George basic home loan:
- Who is able to use this home loan? This home loan can be used by either a person looking to buy the family home or invest in a residential property with a value between $30,000 and $10,000,000.
- How much can be borrowed with this home loan? A person can buy up to 95% of the value of their chosen home if they take out mortgage insurance or up to 95% of the property’s value without mortgage insurance.
- Use of redraw facility. With a St.George basic home loan your to get the handy option of being able to withdraw on the extra funds that you may have deposited on your home loan this means that you can confidently use any extra money you may have to reduce you’re home loan dept and still be able to access these fund if there is ever a situation where your require them.
- Repayment Pause. Is something unforeseen happens and you are unable to work for legitimate reason then you can apply to St.George to have the repayments on your home loan reduced to a more manageable level, you can even ask to take a breather for 3 to 6 months until you’re able to return back to work
- Who can use a St.George basic home loan? The St.George basic home loan can be used to purchase any residential property with a term up to 30 years. It has a variable interest rate, and can be used to purchase vacant land but it cannot be used as a construction loan.
- Repayments of your choice. St.George gives you the flexibility of being able to choose when you would like to make your home loan repayments be it weekly, monthly or even fortnightly.
- You can apply for more funds. With this basic home it’s an easy process if you would like to apply for additional funds this is always nice if you would like to borrow against the equity that you’ve got in your home something like an extension or if you would like to renovate.
- Fees and charges. One of the reasons that the St.George Basic home loan is so good is that there is no monthly account keeping fees or establishment fees this makes it easier to pay off your home loan.
- You can make extra repayments. If you get a pay rise ore if you are lucky enough to come into some extra money then you can make extra repayments on your home loan at any time and without incurring any fees.
- A variable interest rate. The current variable interest rate which St.George offer on a basic home loan is 7.22% Being a basic home loan means that St.George is able to offer a competitive variable interest rate because they don’t have to supply any fancy features.
If you think that this no-frills home loan that offers a great variable interest rate and has all the features that you need like a redraw facility and being able to make extra repayments and none of the ones that you don’t, then you should compare the St.George basic home loan with some of the other home loans offered by Australia’s best banks at the Home Loan Finder comparison table, then you can follow the secure link to the home loan provider’s website and start your application for a new home loan today.
Read the official terms and conditions
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| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
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