St George Fixed 4 Years

St. George Bank’s 4-Year Fixed Rate Home Loan is the standard fixed rate loan that has a fixed term of four years before the loan is converted to the Standard Variable Rate. The benefit of these fixed rates is that they protect the borrower from increasing interest rates. Consistent payments are possible because the rate stays the same.

The St. George Bank provides a number of features that help to round out the dimensions of this fixed rate home loan. One of the interesting ones is the rate lock. This option allows you set your fixed rate even before you get the final numbers on your mortgage payments. You can lock you interest rates in for 90 days.

Other common home loan features include interest only payments, extra payments, redraw facility, payment holidays, and more.

KEY BENEFITS

The following are some of the key benefits you will receive when you apply for one of St. George’s 4-Year Fixed Rate Home Loans.

The Repayment Holiday

You can put a hold on paying further payments on the mortgage using a repayment holiday. This period can go anywhere from 3 months through to a full 12. It is only available if you are willing to pay the $500 charge and you’ve paid additional payments ahead on your loan.

Redraw Facility

You may access money that has already been paid into the mortgage for other reasons. You can only re-draw what has been paid above normal payments.

Additional Repayments

You can make additional payments on your loan so you can repay the principal more quickly. This allows you to save money and also reduce the time it take to pay the balance off.

Split Loans

If you split a loan you are dividing the current loan’s total balance between more than on type of loan.

Interest Only Payments

You can pay just the interest owed during this period. It can last up to 15 years before you have to pay principal.