St.George Fixed Loan (2 Years)
Posted June 18th, 2010
and last modified March 23rd, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
As we are presently enjoying a lull in increasing home loan interest rates, it is therefore an ideal time to consider exactly where you would be financially should rate rise once again. You then should consider where rates should go in the future – up or down!
Nobody can be sure of what will happen in the future but one thing you can be sure of is that if you fix the interest that is available now you won’t have to worry anyway. If rates should happen to fall you can rest assure that the time will come when they will rise again. If they were to rise your fixed home loan could save you thousands of dollars and give you much peace of mind.
St.George Advantage Package Benefits
A St.George fixed home loan for two years will give you enough time to become more comfortable with your situation, as well as give you an outstanding introductory low rate for the first year to get you going. A St.George Advantage package will also deliver an assuredness and confidence when linked to your two year St.George fixed home loan upon application, as you will be rewarded with a discount off the standard variable interest rate after the initial two years of fixed interest has expired, if the amount borrowed is at least $150,000.
A St.George Advantage Package carries with it:
- No establishment fee,
- no home loan administration fee and
- no monthly service fee on the 100 percent offset savings account linked to your home loan.
Lock in low interest rate while waiting.
The interest rate on a two year St.George fixed home loan will be determined at the time of draw down unless a rate lock feature has been applied. To ensure there will be no rate change from the time you make application to the time of settlement you are able to pay a fee that will assure you the fixed rate at that time will remain the same. For instance the present fixed interest rate for a two year St.George fixed home loan is 6.34% with a comparable rate of 7.36% This is the rate you will pay on your loan despite any unforeseen movement when the time comes to actually draw down your loan if you have activated your rate lock option.
Automatic switch to variable after fixed period expires.
After the fixed rate period of two years has expired on your St.George fixed home loan, the mortgage will automatically become a variable interest rate home loan that will carry with it the Advantage Package discount, although at this stage an annual package fee of $395 will be applied. Other fees may also be applicable and full details will be disclosed on request.
Discount on variable interest on expiry of fixed rate.
The standard variable interest rate discount that is applied to the Advantage Package after the two year fixed interest rate period has expired is graded as follows:
- For home loans from $100,000 to 150,000 a 0.25 percent discount is granted,
- from $150,000 to $250,000 a 0.50 percent discount in granted and
- for home loans over $250,000 a 0.70 percent discount is applied.
In the past, fixed interest rate home loans were only considered seriously when interest rates were rising. They carried little to no features and were inflexible to the extent that severe penalties were imposed for early repayment or for making additional repayments. Competition in the home loan market has seen fixed interest rate home loan customers now being able to enjoy the same features that apply to many variable interest rate mortgages, so much so that fixed interest rate home loans are now challenging variable rate loans as the most popular home loans on the market.
Read the St.George Fixed Rate Home Loan - 2 Year Fixed Rate terms and conditions.
| Minimum Loan Amount | $10,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 95% | |
| Maximum Insured LVR | 95% | |
| Mortgage Offset Account | Yes | |
| Loan Redraw Facility | No | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.34% | |
| Comparison Rate | 7.36% | |
| 2 Year Fixed Rate | 7.54% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $10.00 | |
| Settlement Fee | $100 | |
| Exit Fee | $250 | |
| Early Termination Fee | $1,000 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
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