St.George Brokers - St.George Portfolio Loan

Portfolio Loan
Description	Portfolio Loan is a secured line of credit facility where one overall credit limit may be divided between up to ten (separate) sub-accounts. Sub-accounts can be set up for different loan purposes as required by the customer. eg. owner occupier, investment or personal.
Target Market	Borrowers who want to own their own home sooner Borrowers who have greater than 10% equity in their property/s Borrowers who have a number of different borrowing and lifestyle requirements
Key Benefits	Customers can own their own home sooner Assists with wealth creation
Not Available For	Owner Builders Introductory / promotional rates (unless specifically stated) Rural land security Interest In Advance repayment type Where the security is to be by registered 2^nd or subsequent mortgage Where any property is already the security for a Great Australian Home Loan approved prior to 21 March 2001
Ability To Increase Loan Amount	Increases are permitted, subject to current credit policy being met ie. LVR, serviceability etc. Minimum increase amount - $10,000
Interest Rate	See interest rates and fees
Loan Amount	Minimum: $10,000 ($2,000 for each sub account) Maximum: Refer to Lending Manager for amounts over $1,000,000
Repayment Type / Loan Term	The minimum repayment required is interest plus fees and charges accrued during the month. Capitalisation is allowed on sub-accounts where a fixed or variable interest rate has been selected - not available for primary sub account. There is no term, however the Bank reserves the right to conduct annual reviews. The account balance is payable on demand (except if the sub-account is fixed, then the balance is payable when in default).
Administration Fees	$14 - monthly on primary and each additional sub account or $200 - annual fee (covers up to 10 sub accounts). or $375 – Advantage Package fee (covers 5 Portfolio loans with up to 10 sub accounts each)
LVR	Maximum: 90% LVR.
LMI	LMI applicable - Refer to LMI Section in Lending Policy
Repayments	The minimum repayment required is interest plus fees and charges accrued during the month. Repayment Pause available.
Interest Offset	Not applicable to a line of credit product.
Principal Reductions	Allowed at any time on variable rate sub-accounts. For sub-accounts on a fixed interest rate where the fixed interest rate was approved prior to October 28, 2000, principal reductions of 10% of the sub-account credit limit during the fixed rate period of the sub-account may be made without incurring break costs.For sub-accounts on a fixed interest rate where the fixed interest rate was approved from October 28, 2000 onwards, principal reductions of $10,000 for each 12 month period of the fixed rate period of the sub-account may be made without incurring break costs. A "12 month period" is a period from the date the fixed rate period starts to the first anniversary of that date or any consecutive 12 month period.
Redraw Facility	Not applicable for this product.
Visa Debit Facility	Visa Debit card is available effective from 1 April 2008.

© St.George Bank Limited ABN 92 055 513 070 AFS Licence No. 240997
St.George is the product issuer of the deposit and payment products referred to on this website. Any advice on this website is prepared without consideration of your personal objectives, financial situation or needs. Before acting on the advice, you should consider if it is appropriate to your objectives, financial situation or needs. You can obtain a Product Disclosure Statement (PDS) for the deposit, payment, insurance and wealth management products referred to on this website by phoning 13 33 30. Please consider the PDS for a product before you decide whether to acquire or continue holding the product. Information current as at date of posting. Applications for credit are subject to the Bank's prevailing lending criteria. Terms and conditions apply to the products mentioned.

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