Refinancers

A guide to refinancing

Is there a more suitable home loan?

Depending on your changing needs and circumstances, your current home loan may no longer be working for you.

Use our Home Loan Product Selector to find a more suitable product or view our suggestions:

Our suggestionWhat do you need from a home loan?

Standard Variable RateYou want flexibility with a full range of features.

Advantage PackageYou want an all-in-one package that offers savings on your home loan, credit card and transaction
accounts.

Portfolio LoanYou want to create wealth to secure your future.

Fixed Rate Home LoanYou want to budget for the future with confidence.

Basic Home LoanYou need a straight forward, easy-to-use home loan.

Renovation Home LoanYou need a loan you can draw down in stages during the renovation of your home.

Our home loan comparison chart offers a snap shot of St.George loans and their features and benefits.

It pays to know the full cost

The market is changing but you've had the same home loan for years; maybe you're starting to think you could do better. Knowing all the refinancing costs before you commit can be a make or break situation.

There are additional fees you may be charged for repaying a loan early, including discharge fees or early termination fees as well as break costs if you are currently on a fixed interest rate home loan. Make sure you ask for a full breakdown from your current lender and factor these costs into your decision.

Speak to one of our lenders to see how we can help find the right home loan for you without breaking the bank.

Increasing your current loan

Do you know how much equity is lying around in your home? If you're thinking of increasing your home loan so you can renovate or perhaps go on a family holiday, your borrowing power could be right under your nose.

Our Line of Credit Calculator can show you the time and interest you can save with different loans.

You may be able to borrow up to 80% of the value of your home without Lenders Mortgage Insurance. And if you're already a St.George customer, think about applying for a 'top up' to your current home loan.^

Use our Borrowing Power Calculator for an indication of how much you may be able to borrow or speak to one of our lenders.

^All applications for credit are subject to the Bank's prevailing credit criteria.

Borrowing to renovate

If a home makeover is on the cards then you could have an easier job ahead of you than building from the ground up or moving altogether. However you'll still need funds to get the job done. Our Renovation Home Loan offers flexible finance as and when you need it so that you can make renovations or extensions to your home. Benefits include:

Access to funds on an ongoing basis throughout the renovation period.

Pay interest only on the advanced amount.

Organise scheduled payments for builders as they complete agreed milestones.

Insuring your asset

As a home owner you may be concerned about protecting your most expensive asset. There's no need to worry, just make sure you have the right cover should anything unexpected happen. You'll need to look at:

Building insurance - covers the structure and fixtures of your home.

Contents insurance - covers your belongings including furniture, artworks and jewellery.

Find out more about home and contents insurance.

Home Loan Protection - pays a lump sum to cover your home loan if you pass away, or are diagnosed with a covered serious medical condition or are permanently unable to work.

Find out more about Home Loan Protection.

What to look out for when insuring your home:

Avoid being under-insured by making a room by room, floor to ceiling list of all of your contents. Include carpets, shoes, clothes, soft furnishings, bedding, toys, cosmetics, perfumes, cookware and tools - in short, everything you own. Then estimate the full replacement cost of every item and insure accordingly.

Most policies ask you to list valuables that are worth over a certain amount like rugs, antiques, artworks and electrical goods. Be sure to list such items with their dollar value so you can claim their full cost, otherwise your claim may be limited to a set maximum dollar value per item.

When choosing contents insurance be sure to consider what the policy offers. For example, a replacement policy replaces older goods for new ones and an indemnity policy applies depreciation to your assets.