St.George Brokers - St.George Fixed Rate Home Loan

Fixed Rate Home Loan
Description	Fixed to Variable - The interest rate is fixed for a selected period of 1,2,3,4 or 5 years. At the end of the fixed rate period the interest rate will convert to the standard variable interest rate for the remainder of the loan term. The interest rate for new loans is fixed from settlement of the loan and does not change for the duration of the fixed rate period. The prevailing fixed rate can be "locked in" at the time of lodging a full loan application with St.George by paying the Rate Lock fee of $500 or 0.15% of the loan amount, whichever is higher. This ensures the rate will not rise (but can decrease) above the "locked rate" for a period of 90 days from the date of the customer’s request.
Target Market	Customers who want to lock into a fixed rate and safeguard against potential interest rate rises.
Key Benefits	Protects borrowers in a rising interest rate environment. Enables borrowers to budget for the future with confidence. Principal reductions may be made up to an allowable limit (before break costs apply). Interest in Advance option available for investment loans only.
Not Available For	Capitalising portion of Relocation loans Building loans Extended Settlement Loans
Ability To Increase Loan Amount	Increase (Further) Loan - Yes
Loan Amount	Minimum: $10,000 Maximum: Refer to Lending Manager for amounts over $1,000,000
Repayment Type / Loan Term	Principal & Interest : 1 - 30 yrs Interest Based Term : maximum of 15 years (The loan term has a maximum period of 30 years.)
Administration Fees	$10 - monthly
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	Partial interest offset facility available for Principal and Interest loans and for Interest Based loans.
Principal Reductions	Principal reductions of $10,000 may be made per 12 month period during the fixed rate period without incurring break costs.
Redraw Facility	Not available during fixed rate period.
Rate Lock Fee	This fee is payable if the customer wishes to 'lock in' the prevailing fixed rate. This ensures the rate will not rise (but can decrease) above the "locked rate" for a period of 90 days from the date of the customer’s request.

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