St.George Brokers - St.George Discount Variable Rate Home Loan

Discount Variable Rate Home Loan
Description	The Discount Variable Rate Home Loan is a variable interest rate loan with a rate that is at a stated percentage per annum below the standard variable rate for the first 12 months. When sold as part of the Advantage Package, converts to the Advantage Package discounted interest rate at the end of the introductory period (a fee will apply). This loan must be sold as part of an Advantage Package.
Target Market	This product is an introductory variable rate and will appeal to customers who do not want to lock into a fixed rate.
Key Benefits	Flexible repayment frequency Unlimited additional repayments allowed Redraw facility available Mortgage Equaliser 100% Offset available
Not Available For	Existing loans Interest in Advance repayment type Portfolio loan Extended settlement loans
Ability To Increase Loan Amount	Increase Loan Amount - Yes Further Loan - Yes
Loan Amount	Minimum: $50,000 Maximum: Refer to Lending Manager for amounts over $1,000,000
Repayment Type / Loan Term	Principal & Interest : Must be greater than 4 years with a maximum of 30 years Building Loans : Must be greater than 4 years with a maximum of 30 years Interest Based Term : Maximum of 15 years (The loan term must be greater than 4 years with a maximum period of 30 years.) At the end of the interest based term the repayments automatically change to Principal and Interest for the remainder of the loan contract term.
Administration Fees	$10 - monthly Nil monthly admin fee when sold as part of an Advantage Package
LVR	Maximum 95% LVR for owner occupiers and investors Maximum 90% LVR for refinances from other institutions These LVRs can be increased by the amount of the LMI premium, refer to BDM for more details.
LMI	LMI applicable - Refer to LMI Section in Lending Policy
Repayments	Weekly, fortnightly or monthly frequencies allowed on Principal & Interest loans. Monthly frequency only for Interest Based repayments. Repayment Pause available.
Interest Offset	Both Mortgage Equaliser 100% Offset and Partial Interest Offset are available on Principal & Interest loans and Interest Based loans.
Principal Reductions	Allowable on Principal & Interest loans and on Interest Based loans.
Redraw Facility	Available, subject to the Bank's approval.

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