St George Introductory Variable 1 Year

The St George Introductory Variable Rate Home Loan has a low interest rate for the 1st year which reverts back to the Standard Variable rate. The product is popular among first home buyers who are rate conscious and are looking the lower their payments as much as possible.

This mortgage is also has a number of quality features including a 100% offset account. The borrower also has the option to engage in an interest only loan.

The introductory rate provides a high level of flexibility for the consumer at a lower than standard variable rate for the 1st year.

Starting in the 1930s the St George Bank has become one of the largest lenders in Australia. Recognised for its customer service St George is a popular bank among borrowers.

KEY BENEFITS

This mortgage offers clients a number of benefits.

Discounted Variable Rates

Getting a low interest rate is important, particularly if you are purchasing your first home. Get started on the right foot by getting a 0.7% discount off the St George Standard Variable Rate for the first year. Note that the rate does revert back to the Standard Variable rate after the first year is up.

100% Offset Account

The St George home loan also comes with a 100% offset account. The offset account lets you reduce the interest you are paying based on the amount you have deposited in your offset account. It is a fantastic feature that can be linked to your income.

Further Repayments

Have the ability to pay down you home loan sooner than you first anticipated. If you are fortunate to come into some money you have the flexibility to make additional payments on the home loan. It is a great way to get ahead and owning the property sooner rather than later.

Interest Only

If you are looking to reduce you payments initially you have the option to take out the loan on an ‘interest only’ option. This means that you are only paying back the interest on the loan size as opposed to principle and interest.

Split the Loan

Are you after the ability to split your debt over two loan products? It allows you to combine your loan with another St George product so that you can maximise the benefits of both products.

Repayment Holiday

This feature allows you to pause you repayments for a period of time if you come into a tough period. Note that there is a limit on the time and fees apply.