• long running

Owner Occupied 2 Years Fixed Home Loan - 1.79% (60% LVR) & 1.84% (80% LVR) @ St George, Bank of Melbourne, Bank SA

210

From 09/03/2021 St George/Bank Of Melbourne/Bank SA are dropping their fixed and variable interest rates;

Fixed 2 years - 1.79% (comparison 3.43%)
Fixed 3 years - 1.88% (comparison 3.35%)
Fixed 4 years - 1.89% (comparison 3.21%)

Basic variable (with redraw, no offset) - 2.49% (comparison 2.51%)

Rates are for LVRs below 60%, add 0.05% if between 60-80%.

Annual fee $395.

Remember the $4,000 cashback ends 31st March. Terms;

For new Owner Occupier (P&I repayments) and Investment loans. Available on our Advantage Package home loans, with a $395 annual package fee and Basic home loans (no annual fee). $250k min loan per property refinanced. Excludes refinances from within Westpac Group. Apply by 31 Mar 2021, and settle by 30 June 2021. Only 1x $2k cashback per property refinance will be paid regardless of the number of loans involved. Only 1x $2k bonus cashback will be paid for the initial application regardless of the numbers of customers, properties or applications involved with a maximum LVR up to 80% at time of approval.^

Mod: Removed duplicate from title. Broker details at the end of post only.


I know this won't appeal to everyone, however I don't offer broker cashbacks. There are brokers on OzB that do offer cashbacks.

I am a St George Priority Broker - which means time to approval is less than halved and my refinance clients have enjoyed 100% approval rate.

Hope you find this useful,
Aidan
Owner & Mortgage Broker
[email protected]
www.blueowlfinance.com.au
0412378146
Link to my calender - https://www.blueowlfinance.com.au/bookings-checkout/consulta...

ABN 27 646 433 374 | Certified MFAA Member 230928 | Australian Credit Licence number 384704 | Credit Representative’s number 527699

Related Stores

St.George Bank
St.George Bank
Bank of Melbourne
Bank of Melbourne
BankSA (Bank of South Australia)
BankSA (Bank of South Australia)

Comments

  • interested.
    there is any offset account with that rates ?

    • You might pay the annual package fee (300 - 400) to get offset account just like other major banks do.

      • My bad, forgot it's fixed loan so generally no Offset.
        I think only major bank is ANZ offering Offset with Fixed loans, plus some smaller lenders.

        •  

          ANZ will do 1 year fixed with offset.
          Outside that, Adelaide Bank do a great fixed with 100% offset at 2.05%. Annual fees only $180.

        • Teachers Mutual Bank, Community First, Easystreet (no annual fees), then Adelaide Bank, ANZ all do fixed loans with 100 % offset.

      •  

        Annual fee $395 applies.
        Thanks,
        Aidan

    •  

      Hey syaugi,
      There are no offset against St George fixed loans. You may want to look at 'splitting' your loan into two, one part fixed, one part variable with an offset.
      Hope this helps,
      Aidan
      0412378146

    • Fixed rates generally don't have offset accounts, aside from a few select lenders. Having said that you can consider splitting part of your loan with a variable rate, linked to an offset account.

  • Would you advise fixing now or staying on variable?

    •  

      If you're comfortable to pay these rates and lock in for the next 2-3 years, these are market beating offers.
      Think of it as an insurance policy that guarantees no rate changes over that period.
      Hope this helps,
      Aidan
      0412378146.

      • Thanks. Recently with StGeorge and have variable interest rate of 2.62% and 2.89%. Should I be asking for a better deal?

        • +4 votes

          100%. If you think you can get a better deal, you should be asking for one.
          Thanks,
          Aidan.

    • Hard to predict, although it seems that some of the rates on bond yields seem to be spiking and the RBA term funding facility which underpins most of these fixed rates won't be around forever.

  • hey. I just fixed mine with St George on Friday for 4 years at 1.94% =( Nobody said that rates will be reviewed just 2 business days later. Am I eligible to request a lower rate?

    •  

      Hey Sergey,
      It will be the rates at the time of application, will need to start again if you wanted the lower rates.
      Hope this helps,
      Aidan
      0412378146.

    • And nobody forced you to signup 4 years contract. Do you think it's bank's obligation to tell customers any unforseable rate review? But I guess you can try to contact them to see what they can do as a good gesture.

    • Unless your LVR is below 60% you still have the lowest rate…

  • Call him tel:0412378146 then post back here

  • I almost went 3 years with St George at 2.24% 10 months ago. Decided to go 1 year as I am very cautious about fixed rates. Glad I only went one year.

    •  

      Thanks @edshays, however from another perspective, at 2.24% you're still way below variable rates.
      Thanks,
      Aidan
      0412378146

  • Hi, I am currently with Westpac at 2.29% flexible. I think even without the cashback it is still attractive. Is there any fee in refinancing?

  • Those currently fixed, call your bank to check your break costs. Might be lower than expected and the break cost might be paid off by the new rate savings.

    Also, Ubank are doing 1.75% for three years.

    •  

      @edshays you are correct on all accounts!
      UBank no fees and lower rates, however no $4k. Depends which you want the most.
      Thanks,
      Aidan.

  • My fixed loan with other bank expires some day in May. can i apply this month, and execute in May for cash back?

  • Fixing more than 2 years is pretty risky. Apt can happen in 2 3 4 years. Don’t wanna be stuck with the loan if your life changes and you had to sell your house.

    •  

      Good comment @ Frozensage and should be taking into consideration when fixing for long periods.
      Aidan.

  • Was actually going to lock in 4 years at 1.94% later today! Thanks OP, I will wait until tomorrow to make the call. :)

  • Could OP shed some light on investment loans? PI and IO what's the rate & cashback available?

    •  

      @mutexing - sure can!
      Investment P&I under 60% LVR 2 Year Fixed - 2.19% (3.94% comparison)
      Investment IO under 60% LVR 2 Year Fixed - 2.39% (4.20% comparison)

      Add 0.05 if LVR between 60% and 80%.

      $4k cashback applies here too

      [email protected] or 0412378146

  • Are the lower interest rates only for fixed 2+ years? I'm after fixed 1 year.

  • Does anyone know when ANZ will cut the rate?

  • Do we have to take the credit card included in the package?

  • do you know the rate for 1 year fix?

    •  

      1.94% and the $4k applies on this loan type.
      [email protected]

      • the 1.94% 1YR rate AND the cashback applies for existing St George customers ? or just the rate ?
        I currently have a variable offset and looking to split to 1YR fixed and retain a variable offset package at a better rate then current.

        • Don't think existing customer are eligible for the cashback mate. I just pulled the trigger on moving part of my existing variable loan balance to fixed for 2 years at 1.89% and there was no mention of cashback, etc. I may have been able to push harder on the rate given that 1.79% is being advertised for new customers, but I'm pretty happy with 1.89%. I also could have taken up an offer for 4 years at 1.94%, but decided against locking in for that long. Even better, my remaining discounted variable rate of 2.69% is now irrelevant for the next 2 years as I have enough offset to cover that balance. :) Good luck!

  • Would this be available to existing customers

  • What is best fixed term that allows additional repayments?

    So far I got CBA 1.99% and $10,000 additional repayments. Does anyone offer more than $10k extra A year whilst offering anything under 2% fixed for 4 years?

    • +1 vote

      Look into having 2 x fixed loans, double your capacity to pay extra.
      [email protected]

    • FYI - I was advised today that St George allow up to $30k extra repayments into their fixed loans over the term of the loan. 4 year rate I was offered was 1.94%, but I went with 2 years at 1.89%.

  • Would you be able to get the rate lock fee waived?

    Do they charge the fee if rates haven’t changed when you settle

  • What if refinancing and the current amount is less than $250k, can you ‘borrow’ the minimum amount ie:$250k (will have to split allowing extra repayment)
    Extra complication is that I’ve split some of our loan to allow debt recycling and not sure if that part of the loan could be retaining without contaminating it.
    Feel like the cashback is worth looking into the changeover at this stage.